If you're working on your tax return today, the eve of this year's April 18 filing deadline, you are not alone. The IRS says between 20 percent and 25 percent of taxpayers put off their tax tasks until the last two weeks of the filing season.
But these folks are mere amateurs.
Given that the IRS expects 141 million returns this year, that translates into 9.87 million taxpayers likely to seek until as late as Oct. 17 to finish up their tax paperwork.
A few quick notes about filing extensions.
You can submit Form 4868 electronically or by mail. Whichever method you choose, do so by tomorrow.
Not to be a nag, but pay what you owe or as much as possible. Yes, you might be able to get a reprieve on paying due taxes tomorrow, but in most cases, the IRS expects any money you owe by the filing deadline.To that end, the agency offers several payment options.
If you do get a six-month extension, you don't have to wait until October to finish your return. As soon as you can complete your 1040 and associated forms, the IRS will be happy to take it.
Free File will stay open for business through Oct. 17 to accommodate the ultimate tax filing procrastinators.
- Texas leads tax procrastination list
- Short-term payment extension possible
- Free File is open for 2011 tax business
- Free tax help
- By the Numbers (2011 fun tax stats)
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