IRS Tax Tip 2024-81, Oct. 3, 2024
The Oct. 15 extension deadline to file taxes is quick approaching. Most taxpayers who requested an extension of time to file their 2023 tax return should file by Tuesday, Oct. 15, to keep away from the penalty for submitting late. The IRS urges folks to file electronically.
Keep in mind that an extension to file was not an extension to pay. Extension filers who owe taxes ought to pay as a lot as doable to cut back curiosity and penalties. Those that owe tax, have but to file a 2023 tax return and didn’t request an extension can usually keep away from extra penalties and curiosity by submitting the return and paying any taxes owed as quickly as doable.
IRS e-file is simple, protected and probably the most correct strategy to file taxes. It’s accessible by Oct. 15. Submitting electronically also can assist taxpayers decide their Earned Earnings Tax Credit score, Youngster and Dependent Care Credit score and extra.
Some teams have extra time to file
Entry tax account data
Particular person taxpayers can log into their IRS On-line Account to get key data from their most up-to-date tax return equivalent to their adjusted gross earnings (AGI), which can assist in getting ready and submitting their return. They’ll additionally view the quantity they owe, fee historical past together with estimated tax funds, their fee plan particulars and choices, digital copies of sure notices, their handle on file and authorization requests from tax professionals.
Fee choices
Taxpayers who owe can pay on-line utilizing IRS Direct Pay for gratis or use a debit card, bank card or digital pockets, which can be topic to a fee processing payment.
If taxpayers have a steadiness and may’t pay it now, they need to apply for a fee plan. The IRS has extra data for taxpayers who cannot afford to pay the taxes they owe.