I'd be curious to see if more taxpayers applied for an extension or had to use a firm to do their taxes because they weren't able to figure out their gains and losses in their cryptocurrency investments. If your income is above that, multiply what you paid a year ago by 1.1 (to get to 110%).
More than $70 million in Florida tax dollars are still waiting to be claimed, four years later.
"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.
Taxpayers will have until this coming Tuesday, April 17, to file their 2017 tax returns and pay any tax due because April 15 falls on a Sunday this year, and Emancipation Day - a holiday observed in the District of Columbia - falls on Monday, April 16. The IRS will never call or email you.
While our taxes are due on Tuesday, many CT and NY residents are sweating the tax day deadline, along with the thought of an audit.
If you plan to submit an extension form to the IRS, you must submit form 4868. They then call the victim to say the refund was deposited in error and give information to forward the money to their collection agency.
Sanford from the IRS said it order to be considered timely it must bear that postmark of the final day of filing - in this case this year April 17.
To find out how much you have to pay, you can use the payment estimator provided by the IRS on their website.
Heidi Hutner, a writer and professor, likes to file her taxes as early as possible. Go back and look at what you paid in taxes a year ago, including both withholdings and any payments you made (including estimated quarterly payments as well as payments you made last April).