UNITED STATES NEWS

Tax Day laggards: Consider filing for extension if in a rush

Apr 17, 2022, 2:00 PM

WASHINGTON (AP) — Millions of Americans wait until the last minute to file their taxes and this year is no exception.

Monday is Tax Day — the federal deadline for individual tax filing and payments — and the IRS will receive tens of millions of last-minute filings electronically and through paper forms.

As of April 8, the IRS had received more than 103 million returns for this tax season, and it had issued more than 63 million refunds worth more than $204 billion.

For comparison, last year more than 169 million people completed an income tax return by the end of the year. That probably leaves nearly 40 percent of this year’s taxpayers still unaccounted for, with many scrambling to submit their documents by Monday.

Nina Tross at the National Society of Tax Professionals says if people haven’t filed their taxes by now, “they’re better off filing an extension.”

But, she added, “People don’t realize that filing an extension has zero effect” as long as they have paid their income taxes by Tax Day.

“An extension is merely filing a return at a later date,” Tross said. “If you rush through a return to get it out the door, and you have to amend it later, you’re more likely to get a double look from the IRS.”

“You’re much better off extending than amending,” she said.

The IRS this year is facing its biggest backlog in history. At the end of the 2021 filing season, the agency had 35.3 million returns waiting for processing. One reason is that every paper document that goes into the IRS is processed by a human, according to the IRS.

And some forms are reviewed by IRS employees and treated as if submitted on paper even if they are e-filed.

This year will be one of the most challenging for the agency, with its record low staffing numbers. The IRS workforce is the same size it was in 1970, though the U.S. population has grown exponentially and tax laws have become increasingly complicated.

The agency announced plans in March to hire at least 10,000 more workers.

Lisa Greene-Lewis, a CPA and spokesperson at TurboTax, said that if people still intend to file a return by Tax Day, “I would gather all your documents in one place so you don’t leave anything out, like W2s and 1099s.”

Important papers such as the ” Letter 6419 ” that outlines the Child Tax Credit payments a taxpayer should have received this year and the ” Letter 6475 ” for stimulus payments should also be on hand.

Greene-Lewis, who has been doing taxes for over 20 years, said “you want to report the correct amount you received so you don’t have to have to make adjustments to your refund.”

The IRS has put out some information and helpful links for last-minute filers — stressing that “taxpayers should be careful to file a complete and accurate tax return. If a return includes errors or is incomplete, it may require further review.”

Keith Kahn with the Delaware Society of CPAs said he encourages everyone to file an electronic return.

When asked whether CPAs will accept clients on Tax Day, Kahn said it’s common for people to be turned away. But for those who can get an appointment, “make sure you have everything you could possibly provide to your CPA — there’s not a lot of time to hammer out strategy or to ask questions.

United States News

Alyssa Milligan participates in the Bike Ride Across Wilson County in conjunction with the Tennesse...

Associated Press

New cars are supposed to be getting safer. So why are fatalities on the rise?

NASHVILLE, Tenn. (AP) — Alyssa Milligan was someone who intuitively knew when another person needed help, encouragement or a kind word. Although she was new to Tennessee, the 23-year old physical therapy student, whose mother called her “Sweet Alyssa,” had already made many close connections, especially within the tight-knit cycling community around Nashville — before […]

37 minutes ago

Bridge to Calculus summer program participants, from left, Steven Ramos, Kevin Dang, Kevin Tran, Pe...

Associated Press

America’s poor math skills raise alarms over global competitiveness

BOSTON (AP) — Like a lot of high school students, Kevin Tran loves superheroes, though perhaps for different reasons than his classmates. “They’re all insanely smart. In their regular jobs they’re engineers, they’re scientists,” said Tran, 17. “And you can’t do any of those things without math.” Tran also loves math. This summer, he studied […]

2 hours ago

A no-trespassing sign hangs on a gate outside a private property, Thursday, Sept. 21, 2023, in Pomf...

Associated Press

Leaf-peeping influencers are clogging a Vermont backroad. The town is closing it

POMFRET, Vt. (AP) — Social media influencers take note: You won’t be able to snap that fall foliage selfie at a popular Vermont spot. The town has temporarily closed the road to nonresidents due to overcrowding and “poorly behaved tourists.” The normally quiet dirt road from Pomfret to Woodstock, home to the frequently photographed Sleepy […]

2 hours ago

Associated Press

With a government shutdown just days away, Congress is moving into crisis mode

WASHINGTON (AP) — With a government shutdown five days away, Congress is moving into crisis mode as Speaker Kevin McCarthy faces an insurgency from hard-right Republicans eager to slash spending even if it means curtailing federal services for millions of Americans. There’s no clear path ahead as lawmakers return with tensions high and options limited. […]

2 hours ago

FILE - United Auto Workers members walk the picket line at the Ford Michigan Assembly Plant in Wayn...

Associated Press

Biden is headed to Michigan to join the UAW picket line. He’s all-in on showing his union bona fides

WASHINGTON (AP) — President Joe Biden’s decision to stand alongside United Auto Workers picketers Tuesday on the 12th day of their strike against major carmakers underscores an allegiance to labor unions that appears to be unparalleled in presidential history. Experts in presidential and U.S. labor history say they cannot recall an instance where a sitting […]

2 hours ago

Associated Press

California governor signs law barring schoolbook bans based on racial, gender teachings

SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom signed a bill Monday to ban school boards from rejecting textbooks based on their teachings about the contributions of people from different racial backgrounds, sexual orientations and gender identities. Newsom called the measure “long overdue.” “From Temecula to Tallahassee, fringe ideologues across the country are attempting to […]

3 hours ago

Sponsored Articles

...

DAY & NIGHT AIR CONDITIONING, HEATING AND PLUMBING

Importance of AC maintenance after Arizona’s excruciating heat wave

An air conditioning unit in Phoenix is vital to living a comfortable life inside, away from triple-digit heat.

...

re:vitalize

When most diets fail, re:vitalize makes a difference that shows

Staying healthy and losing weight are things many people in Arizona are conscious of, especially during the summer.

...

DAY & NIGHT AIR CONDITIONING, HEATING AND PLUMBING

Here are the biggest tips to keep your AC bill low this summer

PHOENIX — In Arizona during the summer, having a working air conditioning unit is not just a pleasure, but a necessity. No one wants to walk from their sweltering car just to continue to be hot in their home. As the triple digits hit around the Valley and are here to stay, your AC bill […]

Tax Day laggards: Consider filing for extension if in a rush