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Tax Filing Extension October 15th Deadline

Thursday, October 15, 2015
The Internal Revenue Service is strongly urging all taxpayers who have not filed their taxes that the deadline is TODAY (October 15, 2015.)  By October 15th, taxpayers will need to file their taxes, due to a previous extension. This deadline is an automatic six month extension granted to taxpayers to allow them to file their tax returns that are delayed since the original April 15th deadline.  Each year, there are approximately three million taxpayers who get an extension to file their tax returns by October 15th.  There are still ways to be granted an extension even though October 15 is normally the last day given to file a tax return.  Usually this extension will apply to those in the military who served in combat zones.

It is important to take the deadline seriously and file by October 15th and also to check all documents and tax returns to make sure that they did not overlook or forget any tax benefits, credits, deductions, etc.  We recommend that taxpayers take advantage of credits and deductions if they honestly qualify. Don’t just think you can claim these benefits because the IRS will figure out if something is fishy.  One of the most popular tax benefits is the Earned Income Tax Credit (EITC).  The IRS has a free EITC assistant online tool which can assist taxpayers assess if they are indeed eligible for the credit. Some other credits you may qualify for include the American Opportunity Tax Credit, Saver’s credit, as well as other education tax benefits.

This year, taxpayers will need to respond to the health care tax reporting section by simply checking a box on their return to indicate if they have health coverage for the respective tax year.

The IRS always recommends filing tax returns electronically since the method of free electronic filing via IRS e-file is accurate, easy and safe to use.  Using the e-file system makes it easy for taxpayers to make sure that they will meet the October 15 tax deadline since no postage or delivery time is necessary.  Free file is free tax software that also helps taxpayers with filing and takes the guesswork out of preparing their tax return.  Paid tax preparers also will file their clients’ returns using an electronic e-file system.  This is timely and cost-effective for the tax preparer and the taxpayer so that they can receive their refund quicker directly into their bank account (by choosing the direct deposit option).

The IRS always wants taxpayers to make sure they take advantage of credits and deductions if they qualify.  This includes the Earned Income Tax Credit.  The IRS has an Earned Income Tax Credit tool online to help taxpayers assess if they are eligible. Other credits include the American Opportunity Tax Credit as well as other education tax benefits.

The IRS has online payment options for taxpayers who are having financial hardships and are unable pay the full tax liability by October 15th. They may acquire a penalty, which is usually 5% per month. However, for financially struggling taxpayers, there are tax relief programs as well as the online payment agreement with the IRS.

If you are looking for Encino Tax Lawyers, contact the Strategic Tax Lawyers, a firm of Intent to Levy Lawyers, IRS CP504 Attorneys, and Audit Tax Attorneys who have extensive training and experience in IRS-related matters and the IRS tax code.  If you have any legal issues with the IRS related to your taxes, call the Strategic Tax Lawyers today at (800) 669-4775 for a free consultation.  You will get your issue resolved in the most efficient manner possible.