October 15 Tax Deadline Looms – IRS Offers Quick Tips

If you filed an extension with the Internal Revenue Service for your 2014 taxes, time is quickly running out to get that return prepared and sent in.

IRS spokesman Mark Green says if you haven’t done so already, you need to start now to get your return prepared.  The deadline to file your return if you have an extension is midnight Thursday, October 15.

And he says the best way to make sure that return is filed before the deadline is to send it in electronically.

The Internal Revenue Service is warning of possible long lines at some of the largest Taxpayers Assistance Centers across the country and long hold times on the phone.

As the tax filing extension deadline fast approaches, when possible, the IRS recommends taxpayers take advantage of the numerous online tools for fast, easy service. Because limited resources have impacted some IRS services, the IRS reminds taxpayers that they can get answers to many of their tax questions, tax forms and publications, making a payment and much more by visiting IRS.gov. Often taxpayers may find it more convenient to visit IRS.gov to get the tax help they need.

Now if you still don’t think you can get your return in by midnight Thursday, Green encourages you to file something.

“Taxpayers with extensions should file their returns by Oct. 15, even if they can’t pay the full amount due,” Green said. “By doing so, taxpayers will avoid the late-filing penalty, normally five percent per month, that would otherwise apply to any unpaid balance after Oct. 15. However, interest, currently at the rate of 3 percent per year compounded daily, and late-payment penalties, normally 0.5 percent per month, will continue to accrue.”

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“We encourage taxpayers to visit our website to find the answers to their questions. We don’t want anyone waiting needlessly when there are other resources online at their fingertips,” said IRS Spokesman Mark Green.

Taxpayers can also pay by debit or credit card. While the IRS does not charge a fee for this service, the payment processer will. Other e-pay options include the Electronic Federal Tax Payment System (pre-registration is required) and Electronic Funds Withdrawal which is available when e-Filing. Taxpayers can even e-pay what they owe using, IRS2Go , the agency’s popular mobile phone app.

The IRS reminds taxpayers that they can often get needed tax information or resolve a tax problem without having to call or visit an IRS office. The IRS website provides many of the same services available at a Taxpayer Assistance Center including the ability to get copies of transcripts check the status of a tax refund or get answers to common tax law questions.