Certified account says time to stop procrastinating on taxes - WAFF-TV: News, Weather and Sports for Huntsville, AL

Certified account says time to stop procrastinating on taxes

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An extension only gives you time to collect your tax information. It does not extend your payment due date, April 15. (Source: MGN) An extension only gives you time to collect your tax information. It does not extend your payment due date, April 15. (Source: MGN)
HUNTSVILLE, AL (WAFF) -

If you haven't filed your taxes yet, it's time to stop procrastinating. The IRS said it takes an estimated 16 hours to fill out a 10-40.

"As you know, April 15 is Tuesday," said Certified Public Accountant David Freeman. "It's the last day to file your tax return."

However, that doesn't mean you have all day to mail out your taxes.

"Keep in mind the post office closes, so you can't take it to the post office at midnight and expect it to go out."

If you won't have all your tax information together by the deadline, you'll be okay if you follow some simple guidelines.

"You can file an automatic six month extension, form 4868. It also covers your state of Alabama. You get a six month extension until October 15."

An extension only gives you time to collect your tax information. It does not extend your payment due date, April 15.

"If you cannot afford to pay it which is very, very common, then the IRS will most of the time setup payments."

The State of Alabama does not give you the option for a payment plan, so if you can only pay one, pay your state taxes first according to Freeman.

"My experience has been that the IRS are good folks. They have a job to do, to collect taxes for the government."

No matter how you pay, the most important thing you do is file your tax returns.

"If you don't file a tax return at all, eventually they will find you, the IRS will find you. It may be years down the road, but they will find you."

If you're a very late filer and still haven't filed your 20-10 return, April 15 is the final deadline. The government is holding over $700-million in unclaimed refunds, but after the 15th, that money becomes property of the US Treasury.

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