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It’s Tax Day! Tips for filing federal tax returns

It’s Tax Day! And that means it’s the last day to file your federal tax returns.

So, what do you do if you’ve put off filing your taxes until now? Abby Breidenbach was LIVE this morning with more.

There’s still time to file your federal taxes today, though you’ll certainly be cutting it close. You have until midnight to file your returns or an extension. An extension will ensure you don’t accrue penalties for not meeting the April 15 deadline and give you an additional six months to file those returns.

To get that extension, you’ll need to file a form called 4868.

Filing an extension, however, doesn’t mean you don’t have to pay. Filers will need to estimate how much they think they’ll owe for 2018 and make that payment. Tax professionals say it’s best to look back at your last return to estimate or use an online estimator via the IRS or trusted tax preparer website.

It’s better to overpay than underpay when making that estimate.

If you find yourself unable to pay the tax you owe, the IRS has several tax payment options on its website.

For more information on filing an extension and to file your returns visit the IRS website.

In Louisiana, the deadline for filing state tax returns is May 15.

KATC News

KATC News

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