Schwartz Bankruptcy Law Center
Louisville 502-485-9200
New Albany 812-945-9200
Toll Free 866-366-3328

Things You Should Know if Filing Taxes Last Minute

It's important to take care of your taxes as soon as possible and not fall behind… However we know things happen and maybe you've found yourself now standing in line at the post office the day taxes are due. If this sounds like you, there are some things you need to keep in mind while rushing to get your taxes done that will help you keep things in a row.

File for an Extension: If you've been procrastinating, and you need some more time on those taxes, don't bother telling your sob story to the IRS about your all-nighter that consisted of coffee, blood, sweat, and tears. Instead, bypass the conversation altogether and fill out the IRS Form 4838 and submit it either via mail or online. The IRS grants automatic extensions, however an extension on time for filing, is not an extension to pay.

No Money, No Filing? No Chance: There's no reason not enough money to pay everything at once should hold you back from filing your taxes. Instead, look into filing for an installment agreement. This will allow you to opt to pay taxes in payments over time, rather than a lump sum. It will cost you some to set this up, but agree to have funds withdrawn electronically and that cost gets cut in half. Look into IRS Form 9465.

Bank Info: Sure, you can file your taxes completely online now; pay what you owe, and get refunds directly deposited into your bank account. This gives you instant gratification and no hassle. However, be sure to enter your bank information correctly or you could miss out on that return!

Social Security Numbers: It's easy to make mistakes when you're in a hurry. If you're filing taxes last minute, that means you're probably in a hurry. Make sure to carefully go over all information to make sure things are correct. This is especially important for things like social security numbers, names, and identification qualifications.

Don't Forget to Sign Returns: Again, you're in a hurry â€" which means you're prone to overlooking things. Signatures are extremely important on returns as they are considered invalid if left unsigned. If someone else prepared your form for you, they must also sign.

Have a Plan of (Post Office) Attack: If you're mailing in your return forms, you need to make sure things are postmarked no later than April 18th. Some post offices are nice and will stay open longer hours on tax day for this specific reason. However, not all do so call your local post offices to make sure you know the appropriate hours. Lines may be very long these days, so work to get them out sooner than later and save yourself the stress.

Next year, don't procrastinate so much!

No Comments

Leave a comment
Comment Information
  • NACBA- National association of consumer bankruptcy attorneys
  • LexisNexis- AV -Peer review rated
  • Kruger & Schwartz BBB Business Review
Contact Our Attorneys
Review Us

Privacy Policy | Business Development Solutions by FindLaw, a Thomson Reuters business.

Back to top