Tax Filing Deadline Approaches

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He said the IRS expects to receive about 168,000 requests for extensions from Alabamians.

Experts say e-file is the most secure way to do your taxes. Also, as with any action that might impact business compliance obligations, I encourage you to talk with a business attorney to ensure you fully understand the legal responsibilities before making a change.

"The IRS is never going ot reach you for the first time about a tax debt via phone call", said a representative from H&R Block. You'll get a penalty if you miss both of these deadlines, though. "That's a common mistake that people make".

If you decide to go with a tax preparer, the IRS has some helpful tips to for your security.

What if I need more time to file my 2017 tax return?

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Demand that taxpayers pay taxes without the opportunity to question or appeal the amount they say is owed. By doing so, the tax return appears to be self-prepared, with no indication that a paid tax preparer was used in completing the tax return - helping keep the return preparer under the radar.

Dishonest and unscrupulous tax preparers, including some who are "ghost" tax preparers, perpetuate refund fraud and scams that hurt honest taxpayers who are simply trying to do the right thing and file a legitimate tax return.

Should you incur a failure-to-pay penalty, the charge is 0.5% per month or partial month that the charge is outstanding and is limited to 25% of the total taxes owed.

The IRS summoned Coinbase, the No. 1 cryptocurrency exchange in the USA, to provide information about every customer who undertook transactions above $20,000 through their platform between 2013 and 2015.

The price of bitcoin soared by 1,221% in 2017, reaching almost $20,000 in December-and making a lot of people rich, if they sold at the right time.

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As April 17 approaches, remember if your taxes aren't filed, you face the threat of some pretty hefty penalties from the IRS.

Income: Don't forget dividends, state tax refunds, unemployment payments and earnings from side jobs or freelance work.

You have until midnight, Tuesday April 17th, to file your taxes.

"The overall bill seems more like a hodgepodge of items and less like a thoughtful set of comprehensive reforms to help the IRS become more effective as a tax administrator", said Mark Mazur, a former U.S. Treasury official and analyst at the Tax Policy Center, a nonpartisan think tank. "Ask the person on the other end of the call to provide you with their employee identification number".

Get your Refund Fast and File your Taxes for Free.

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Long story short, it's so much easier to file for an extension than to blow off filing a return altogether.

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