Block on Trump's Asylum Ban Upheld by Supreme Court
So if the calendar flipping to April sent off a little alarm in the back of your mind but you haven't quite been able to put your finger on what it is you're forgetting to do, you might need to file your taxes. Don't panic -- you still have until the 17th. But you might want to start getting your paperwork together this week.
And here are three tips for you tax procrastinators to help with your last-minute filing.
How much you'll be penalized for filing your taxes late will depend on how much money you owe (if any) and just how late your filing is. Though it may vary from case to case, late-filing penalties are typically five percent of the tax owed, pro-rated for each day the return is late. (Although this late penalty is generally capped at five months or 25 percent of your total unpaid taxes.)
If your filing is late by more than 60 days, the minimum penalty can be either $135 or 100 percent of the unpaid tax.
If you don't think you'll make the 17th deadline, you can file for an extension by filling out and submitting a Form 4868. Extensions are generally automatically granted and give you an additional six months to file.
If you do miss this year's tax deadline, you're not completely out of luck, but you might be out of a little more money. The filing process is the same, just be prepared for some late fees and interest.
If you need help with a last-minute tax filing, contact an experienced tax attorney.
Meeting with a lawyer can help you understand your options and how to best protect your rights. Visit our attorney directory to find a lawyer near you who can help.
Sign into your Legal Forms and Services account to manage your estate planning documents.Sign In
Create an account allows to take advantage of these benefits: