Credit Karma Tax GM explained that there is a "good chance that the perceived complexities of reporting cryptocurrency gains are pushing filers to wait until the very last minute".
When is the last day to file taxes in 2018?
April 15 marks the one-year anniversary of the Tax March.
State and federal agencies will more likely audit a tax return if any third-party vendor reports a company or individual's transactions were higher than stated by the business owner or taxpayer.
Kona Ice: For the fifth straight year, Kona Ice is celebrating National "Chill Out" Day on April 17.
"Joining the sharing or gig economy can have one of the biggest impacts on your taxes", added Sutton.
We're actually pretty familiar with late filing, since we do it almost every year. Why? An additional 10 percent came in the week just before. So giving District residents an extra day to file their returns when Emancipation Day and/or Tax Day fell on a non-weekday seemed only fair. Taxpayers who do not file by April 17th, or pay the full amount due, may face penalties and interest. The same goes for buying Bitcoin at a reasonable price and selling it for profit-you are liable to pay capital gains tax on your earnings! Check your state tax department's website: While some states will automatically apply your federal extension, others require you to submit a separate state extension form.
For some of these clients, he prepared a correct tax return that he gave to the client.
Before the Revolutionary War, taxes were mostly on whiskey and tobacco.
If you were divorced or legally separated by December 31 previous year, you can file as single, which could either cost you that marriage bonus or free you from the marriage penalty. Most taxpayers should already have noticed an increase in take home pay in their paychecks, assuming they updated their W-2 forms with their employer.
But most importantly, filing early helps cut down on the risk for identity theft by essentially beating the criminals to the punch. But, when are they not due on April 15?