The official deadline to file for taxes in the US is today — Monday, April 15. Many Americans may have let this deadline sneak up on them and have yet to file. While the deadline can be important for many, it’s possible to file an extension and receive more time to get what they need together, in order for a successful return.
National Association of Tax Professionals (NATP) Director of Tax Content Tom O’Saben joins Wealth! to break down everything Americans need to know when filing for their taxes at the last possible minute.
O’Saben offers this advice: "I would advise today, get an extension filed. The extension, by the way, is in time to file, not in time to pay. So if you’re not sure, then you’re going to have to send something in or at the very least get that extension filed, and then get together with your tax professional or sit down with a clear mind — maybe in a couple of weeks — and get that return paid in… Get that return submitted when your mind is clearer… Let’s not turn that haste into a big mistake on a tax return that either the IRS comes back later and says, ‘Hmm, I really didn’t know when you got these numbers,’ or secondly, you missed out on some deductions or some refunds."
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