BIR: Monday deadline for tax filing stays

If you've waited until the last minute to file your taxes, you're not alone.

"A lot of filers, late season filers may owe". Everyone can use Free File to file for an extension, Form 4868, if they can't meet the April 18 deadline.

If you receive one of these emails the IRS advises you to forward them to phishing@irs.gov. While employers rarely neglect to send out W-2s, 1099s are a different story.

Don't make the mistake of finding you have a tax bill and then burying your head in the sand, Piershale added. If you don't, you'll have no choice but to postpone your filing, which leads to my next tip. Taxpayers who reside in certain portions of Louisiana have until June 30, 2017 to file and pay their 2016 tax return. If not listen up, you still have a little bit more time to do them. But there is no extension for paying the taxes you owe, which are still due Tuesday.

Experts also say do not worry if you owe taxes. However, if you anticipate owing taxes to the IRS, you must provide an estimated payment or face penalties, said Leslie Thompson, a certified public accountant and managing principal at Spectrum Management Group in Indianapolis. "So if you have taxes due, even if you haven't filed your tax return, they still have to be paid by April 18th, and penalties and interest will begin accruing on April 19th".

Experts stress the importance of getting your taxes done ahead of the deadline.

Taxpayers who are going to mail their returns on Tuesday are encouraged to visit usps.com for their local Post Office hours. They're making the process unnecessarily stressful. Taxpayers must first call to make an appointment before visiting a TAC for help with their taxes. The monthly penalty for not filing a tax return is 5 percent and capped at a maximum of 25 percent. Furthermore, if you file electronically and are due a refund, you'll usually get it in three weeks or less. Though I'd recommend that everyone file electronically, it's an especially good idea if you're pressed for time. The IRS offers a payment installment agreement option.

United States citizens and resident aliens who live and work outside the United States and Puerto Rico have until June 15, 2017, to file and pay taxes related to their 2016 tax return.

"This year more than in the past", he said. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income.

A recent press release from the IRS details one new scam that poses as you asking your tax preparer to make a last-minute change to your refund destination, often to a prepaid debit card.

  • Zachary Reyes