ID theft is another one to look out for Scammers use stolen personal information, social security numbers and falsified W-2 information to file fraudulent tax returns in the victim's name. If your income is above that, multiply what you paid past year by 1.1 (to get to 110%).
Tax Day 2018 is nearly here.
"You still need to get an extension because if you don't and don't pay, the penalty is around 5 percent a month versus if you file the extension and pay later it is a half percent per month so that is a big difference", said Smith.More news: Manchester City are 2017/18 Premier League champions
The deadline to file your 2017 income tax return is supposed to be April 15 but this year you have two extra days, as Tax Day lands on April 17.
The Arizona Department of Revenue is reminding the public that the deadline for taxpayers to file taxes is Tuesday.
The recent tax law changes in 2018 have also changed the tax withholding tables, so taxpayers should use this IRS-provided calculator to get a better estimate of how much tax should be withheld to reduce their yearly refund and increase their paychecks. If you owe money to the taxman, you still have to make a well-educated estimate, fill out a form requesting an extension, and send the estimated amount you owe.More news: BCI asks Jammu, Kathua bar bodies to call off strike
"The IRS will work with you", he said. The IRS had provided help with filing your taxes and adding cryptocurrency since March of 2014.
"As long as you pay 100% of your 2016 tax liability - 110% for higher income taxpayers - you will not owe a penalty on your 2017 return", Jaeger said. As of April 6, just more than 103 million had been filed.
On Tuesday, the IRS alerted consumers to a new email tax scam. Go back and look at what you paid in taxes past year, including both withholdings and any payments you made (including estimated quarterly payments as well as payments you made last April).More news: Delhi Daredevils beat Mumbai Indians by seven wickets in IPL match