April 11, 2016
Taxes are due Monday, April 18, 2016.
If you’re not going to finish your tax return on time, file an extension. You'll have six more months to complete your return, putting the due date at October 17, 2016, for most calendar year taxpayers.
Even with an extension of time to file, the deadline to pay taxes owed and avoid penalty and interest charges is April 18. The extension form will ask you to estimate what you owe.
Extension forms are available by filing status – individual, business and more.
Individuals can e-file their extension form for free under Free File. Look for “Free Extensions for Anyone.”
For more information, visit this IRS webpage:
Do I still have enough to itemize?
Since before I can remember, taxpayers have had the option of reducing their income (to arrive at taxable income) by using either the standard deduction or itemized deductions. It was the one place on the tax return where most folks felt like the IRS granted them a little bit of favor…because you got to deduct whichever...
What’s going on with my exemptions under the Tax Cuts and Jobs Act (TCJA)?
Under the former law, which of course applies to the tax returns being filed for 2017, taxpayers can claim a personal exemption for themselves, their spouse (if filing jointly) and each qualifying child or relative. Each of these exemptions allowed taxpayers to reduce their taxable income by...
As we all know (if you don’t, I’m not sure what rock you’ve been sleeping under), Congress presented and the President signed in to law the Tax Cuts and Jobs Act (TCJA) on December 22, 2017. This law amends the Internal Revenue Code of 1986.
This new law affects us all. No taxpaying person in the United States will escape these changes. For some of...