Since approximately 80% of all returns will be filed by the stroke of midnight on April 17, what happens to the approximately 20% who don't make it by midnight?
Though the refund amounts vary per individual, the average refund left on the table by IN residents is approximately $1,073. The tax bill went into effect in January of this year, and will affect tax returns in April 2019.
There are a couple of reasons. If you file electronically and use the IRS electronic payments options, you will not need to submit a paper copy of Form 4868 - the extension will be automatically processed. And it went into effect on January 1, 1863, again, not April 16.
Acting IRS Commissioner David Kautter told lawmakers during an April 11 House Appropriations committee hearing that the agency has made significant improvements around a key IT modernization initiative. Case in point: in the greater Los Angeles metropolitan area, only three postal locations have extended hours (see which ones by clicking on the link above), one of them until 8:00 pm and two of them until midnight.
The IRS is not interested in punishing those who fail to pay - they would much rather have the money.
"Granted, refunds can be a nice way of forcing us to save money", Bauer said. "I don't remember the last time we did that". "The IRS will never call or email you, so if you receive a phone call or an email from anyone claiming to be the IRS, related to the IRS, or calling about your taxes in any regard it's a scam", said Janet.
In fact, the far greater ease with which the IRS can track the business activities of foreign corporations today compared with 25 years ago seems to have been a major factor in the LB&I's selection of this issue for a compliance campaign. "The volume's not the same".
The biggest mistakes taxpayers make on their returns are entering the wrong Social Security number or even forgetting to enter it, Devine said.
Where else is open late on tax day 2018?
The IRS's instructions for Form 2553 state, "The 2-month period begins on the day of the month the tax year begins and ends with the close of the day before the numerically corresponding day of the second calendar month following that month".
"It's really important to file tax returns on time and work with the IRS to pay off your tax debt", Devine said.
However, there are special circumstances in which the IRS will call or come to a home or business, such as when a taxpayer has an overdue tax bill, to secure a delinquent tax return or a delinquent employment tax payment, or to tour a business as part of an audit or during criminal investigations. However, the failure to pay penalty continues to accumulate at ½% per month until both of the penalties together reach 50%.
Individuals who owe $100 or more in individual income tax are eligible for a payment plan. This year requesting an extension will only give taxpayers to Monday, Oct. 15 to file.