Posted On September 26, 2013

Filing and payment extensions about to expire, warns IRS

This year, over 12 million Americans requested the available 6-month extension on their tax returns, according to sources. The IRS has reminded Nevada residents and Americans across the nation that the deadline for this extension is Oct. 15, a date fast approaching. It is vitally important for all taxpayers to ensure their tax returns are filed by this time if they have not already done so.

The extension is in place to allow extra time for taxpayers to double-check their returns and apply for additional benefits. A variety of benefits are available for those who know to look for them, including Earned Income Tax Credits, Opportunity Tax Credits and others. Applying for these credits can make a big difference to a taxpayer’s bottom line.

Taxpayers also have a variety of options in terms of filing their return. E-filing is gaining popularity due to its relative speed compared to traditional filing and the fact that the electronic format limits human errors. E-filing also allows for a direct deposit option on tax returns, meaning any money owed a taxpayer will be returned to them quickly and efficiently. It is important to remember the Oct. 15 deadline does not apply to certain people including deployed combat troops, who are afforded extra time given their unique circumstances.

The IRS affords extensions to help Nevada residents pay their taxes as accurately as possible. This can help smooth the entire tax system by cutting down on delays caused by misfiled information. All Americans have a responsibility to pay their taxes on time, and the IRS offers many avenues to help facilitate that civic duty.

Source: njtoday.net, IRS Reminds That Tax-filing & Payment Extensions Expire Oct. 15, No author, Sept. 26, 2013