HealthyLife Articles

Tag: IRS

  • Filing For A Tax Extension

    FINANCIAL HEALTH

    Women on computer.

    A federal tax extension allows you extra time to file your taxes. You can request an extension for any reason and receive an additional six months to complete your return. Here’s what you need to know.

    *  You must request an extension before your filing deadline. Don’t delay or you risk a penalty.

    *  Submit the form via mail or electronically by your regular tax return deadline, usually April 15th.

    *  To avoid any potential penalties, pay estimated taxes at the time you submit the form.

    *  If you cannot pay what you owe, you can request a payment plan. Visit the IRS website to learn more.

    *  Use the extra time to file your return. The IRS does not allow a second extension, so don’t let the time slip away.

    *  Fill out the Application for Automatic Extension of Time To File U.S. Individual Income Tax Return available atirs.gov.

    © American Institute for Preventive Medicine

  • Tips For Filing Taxes

    FINANCIAL HEALTH

    Image of paper work for taxes.

    April 15 is Tax Day. Everyone must file their taxes by this day or file for an extension. Don’t get overwhelmed. These tips can help you get started.

    Get all your papers together

    You’ll need all your income records. This may include a W-2 from each employer, a 1099 for other income you made, and records of any other revenue even if you don’t have a form. You’ll also need all the paperwork that supports your tax deductions. Try to gather all these papers early so you have more time to get them in order before you file your taxes.

    Check IRS.gov

    The IRS website has help for people filing their taxes. There are FAQ’s, forms you may need, and helpful interactive tools.

    Double check

    If there’s a mistake on your taxes, your refund may be delayed. Double check social security numbers. The IRS says this is one of the most common mistakes.

    If you owe taxes, but can’t pay it all right now, don’t panic. Go toIRS.gov/payments. You may be able to set up a payment plan or ask the IRS to delay tax collection.

    © American Institute for Preventive Medicine