Because the weekend shifts the observance of Emancipation Day (typically 4.16) to today (4.17.2017) in Washington, DC, we all have until Tuesday night at midnight, April 18, to file our tax return. The IRS recommends that you not panic if you haven’t done your taxes yet. However we’re guessing that panic is the only motivation left that works with people who are waiting until now to start working on their tax returns. Here are some tips from the IRS for procrastinators.


1 | Don’t delay (anymore)

Don’t wait until Tuesday night at 11:30 to do your taxes. If you rush to beat the deadline, you may miss out on tax savings or make a mistake. An error may delay your refund and could cause the IRS to send you a letter.

2 | File free

Use IRS Free File.  If you made $62,000 or less, you can use free tax software to do your taxes and e-file. If you made more, you can use Free File Fillable Forms. These are electronic versions of IRS paper forms. Free File will also help with the reporting requirements for the Affordable Care Act.

3 | Use IRS e-file

No matter who does your taxes, you should file them using IRS e-file. It’s the safe, easy and accurate way to file your tax return. You’re 20 times less likely to make a mistake when you e-file compared to filing a paper return. Tax software catches and corrects common paper filing errors. It also will alert you to tax credits and deductions you may otherwise miss.

4 | Visit IRS.gov

Go online for tax information and resources. The Interactive Tax Assistant, Tax Trails and IRS Tax Map are useful question and answer resources.

5 | File on time

If you owe taxes but can’t pay by the April due date, you should still file on time and pay as much as you can. This will reduce potential penalties and interest charges. If you can’t pay all the tax you owe, you may apply for an installment agreement. The easy way to apply is to use the Form 9465, Installment Agreement Request.

6 | File an extension (but, you’ll still have to pay any taxes you owe on April 18)

If you’re not ready to file by April 18, you can get an automatic six-month extension. You can e-file your extension request for free using IRS Free File. If you owe tax, you can request your extension when you make a payment with Direct Pay, Electronic Federal Tax Payment System or by debit or credit card and select Form 4868 as the payment type. You may also file using Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. Make sure to e-file or mail the form and pay an estimate of any tax due by the April due date.

7 | File to reconcile Advance Payments of the Premium Tax Credit

You must file a tax return and submit Form 8962 to reconcile advance payments of the premium tax credit with the actual premium tax credit to which you are entitled. You will need Form 1095-A from the Marketplace to complete Form 8962. Filing your return without reconciling your advance payments will delay your refund and may affect future advance credit payments.

(via: IRS.gov)

3
Is Tip Income Taxable? Here’s What the IRS Wants You to Know | 2017

The answer is yes and here are some resources the IRS provides to help you keep up with what you owe.

4
More U.S. Business Tax Resources and Statistics | 2017

Business-related statistics and statistical resources available from the U.S. Internal Revenue Service.

5
More Red Flags That Increase Your Odds of Being Audited by the IRS | 2017

More red flags that will cause the IRS to look closer at a tax return.

6
A Handy Calendar of Important Small Business Tax Dates | 2017

Bookmark this calendar of key IRS dates during 2017

7
Small Business IRS Tax Forms and Guide | 2017

The most up-to-date employer-related forms (as of 2.2017) from your friends at the IRS.

8
5 IRS Tax Facts for Self-Employed Small Business Owners | 2017

Information the IRS wants you to know.

9
Things The IRS Wants You to Know about Filing Late and Paying Penalties | 2016

Information about about filing your IRS return late and paying penalties

10
It’s Tax Day: What Are Your Chances of Being Audited? | 2016

The odds of you being audited depend on your income.

11
Five Things the IRS Wants You to Know About Filing a Tax Extension | 2016

While you can’t delay paying your taxes, here’s how to delay filing your return,

12
Home Office Tax Deduction Resources From the IRS | 2016

If you use part of your home for business, you may be able to deduct expenses for the business use of your home.

13
Owning a Small Business and 14 Other Red Flags Increasing The Odds You’ll be Audited

There’s no sure way to avoid an IRS audit, but here are things the IRS looks for in selecting returns they consider.

14
How to Keep From Overpaying Unemployment Insurance Taxes

Each year, many businesses pay more in unemployment insurance taxes than they should. Here is how to avoid being one of those companies.

15
How to Save Tax and Personal Financial Data Without Having Your Identity Stolen

The IRS recommends you keep tax forms and supporting documents a minimum of three years to a maximum of seven years.

16
How Much Tax You’ll Pay on Your $1.3 Billion Powerball Winnings

Before you start plans to expand your business, you may want to sit down with a team of your most trusted legal, tax and financial advisors.

17
A Dozen Business-Related Tax Incentives in the 2016 Budget, Spending Bill

The House of Representatives overwhelmingly passed the first of two bills that will avoid a government shut-down and make permanent a long list of tax provisions

18
A Small Business Year-end Tax Tip That Helps Throughout the Year

This tax calendar from the IRS that can be viewed online or via your computer or mobile device.

19
Six Tax Tips for Year-end Charitable Giving | 2015

Advice from the IRS about different types of year-end giving and how they can impact your taxes.

20
Small Business Tax Day Countdown: A New Taxpayer Bill of Rights

Adopted by the IRS in 2014, the Taxpayer Bill of Rights applies to all taxpayers, individuals or businesses, in their dealings with the IRS.

21
Small Business Tax Day Countdown: Good News, Bad News on How-to Find a Good Tax Preparer

How to find a good tax advisor and tax return preparer for your small business.

22
Affordable Care Act Tax Information From the IRS

The IRS provides a wide range of resources (all are published as PDFs) related to the Affordable Care Act and taxes.

23
Small Business Tax Day Countdown: Last Minute Tax Help You Can Find on the IRS.gov Website

Avoid long waits on-hold or in-line. The IRS.gov website has answers to many of your tax questions, printable tax forms and publications and more.

24
You Must Pay Taxes on Time, but Here are Ways to File an Extension for Turning in Your Tax Forms

Three ways to request an automatic extension of time to file your U.S. individual income tax return. (But your taxes are still due on time.)

25
Small Business Tax Day Countdown: While Tax Preparation is Rarely Free, Online Tax Filing Is

For small business owners and self-employed, the price at a free online tax filing service isn’t free. The price begins at $104.99 using TurboTax, for example.

26
Know the Difference Between an Employee and an Independent Contractor

Taxes and benefits hinge on whether or not a provider of a service is determined by the IRS and other federal and state agencies to be an employee or independent contractor.

27
Rollover Business Startups (ROBS) are Risky, May Violate Tax Laws

Use of a complex strategy to transfer IRA savings into funds to acquire a startup is not only risky, the IRS is challenging it.

28
New Ways States are Finding Small Business Tax Evaders

Following the IRS lead at the federal level, states are looking for ways to find small business owners and the self-employed who are evading state tax laws.

29
Tax-free Commuter (Even by Bicycle) & Parking Expenses

Even if your company does provide parking and commuting expenses as a benefit, they can be paid for with pre-tax money.

30
Add Up Your Healthcare Premiums With This ACA Tax Subsidy Calculator

The Kaiser Family Foundation created this calculator to illustrate health insurance premiums and subsidies for people purchasing insurance on their own in new health insurance exchanges