CHARLESTON, WV (StudyFinds.org) – Tax Filing Day is here again, and a new survey finds plenty of Americans haven’t filed for 2021, and that 56 percent of Americans don’t even know when the deadline is.
With the federal tax deadline looming on April 18th many people may need an extension to file their taxes.
What some may not know the extension only covers the filing of your taxes and doesn’t cover the payment. Taxpayers still need to make a payment by April 18th. Your tax preparer will estimate your payment based on last years taxes.
Tony Martin with T.R. Tax service says if you owe more than last years tax payment you will be charged additional fees for late payment.
“So, the IRS wants you to estimate what you may owe if you think you owe taxes and you’re required to send that in with your extension.”Tony Martin, Tax Accountant
Martin also says the deadline for filing an extension is the same as filing your taxes, April 18th.
In a poll of more than 1,100 people, commissioned by IPX 1031, 32 percent say they procrastinate when it comes to doing their taxes because they don’t expect to get a refund. One in four say they hold off until the last minute because the process is just too complicated and stressful.
For those who still don’t know, Tax Day 2022 is April 18.