Tax Day is here! Exploring last-minute filing tips and extension options
Missed the tax filing deadline? Know the penalties and how to request an extension. Track your refund with IRS tools.
Tax Day is here, so it’s time to file and submit your federal income tax returns. The Internal Revenue Service (IRS) deadline of April 15 for filing all the tax returns has finally arrived but if you still haven’t submitted it, then there are a few last-minute tips and useful resources the IRS recommends you on extending and tracking your refunds:
- File them online - Using IRS Free File and IRS Direct File, you can now prepare and file income tax returns using guides on the website itself. IRS recommends this is the best way to file or request for an extension.
- Request an extension by today - Users can use the IRS Free File to submit an extension request, but the extension of time to file won’t be an extension of time to pay.
Read More: IRS Tax Day: How to file your taxes for free on April 15? Check income limits and eligibility
- Make sure everything is accurate - Double-check everything before filing – from your address to the figures and identification numbers.
Individuals and businesses needing last-minute help can visit the website IRS.gov for more information.
What happens if I miss the deadline?
Individuals, businesses, and self-employed taxpayers can be subjected to penalties if they don’t file their taxes by today. However, if you're expecting a refund, you’ll face no penalties for filing even after the deadline.
What if you need more time to file?
You can request an extension of six months till October 15 to file your tax returns without any penalties. In that case, you would still need to pay the returns, but you’ll have time to file the returns till October 15.
If you have filed your tax return, here’s how to track your refunds:
If you have already filed your tax returns online, you should receive your refund in a month or less. You can keep checking your refund status right now on the ‘Where’s My Refund’ tool. You can also download the IRS’s free app ‘IRS2Go’ or even call on 800-829-1954 to check your status.
The refund tracker app will show you three status types:
- Return Received - Wherein the IRS has already received your tax return and is processing it.
- Refund Approved - Wherein the return is complete and accurate. The IRS will now prepare to issue a refund.
- Refund Sent - The refund has been sent to your bank.
It generally takes up to 21 days to process an online tax return. It takes longer for amended returns or the ones sent via mail.
