Doesn’t time fly? In a few days, taxes will be due! If you’ve been holding off on filing because you owe, don’t worry. You’re making the right call by waiting: why pay before you have to? In any event, here are some of last-minute tips for filing taxes.
Last-Minute Tax Tips
Don’t Miss the Date
April 15th will be here in a week. Make sure you get a calendar handy and commit to having your taxes ready by that date exactly! The last thing you want to do is miss the date. If you do, the fee for late filing is pretty high. That goes even if you’re getting a refund! Whatever you do, make sure you file on the 15th, and no later.
Paying Your Taxes
Owing taxes stinks. However, there are a few ways you can go about it. You can actually use a credit card or a debit card to pay, if you’re worried about having enough to cover it. There are fees associated with doing it this way, though. You can use a direct payment from your bank account if you’d like to avoid the fees.
If you owe a considerable amount and don’t have it all at once, you can set up a payment plan with the IRS. You’ll have to pay fees and interest if you do so, though, so don’t do this unless you have to. It’s better to use a payment plan than to go into debt taking out a loan, though.
If you can afford to pay all of your taxes at once, do so. It will save you a good bit of money on fees and interest. After all, if the government has ever owed you money, you can bet they never paid you any interest on the loan you gave them!