Tax deadline hours away, extension request due April 18 at midnight
WILMINGTON, NC (WWAY) –The deadline to file federal income taxes is Monday April 18, which is three days later than the usual April 15th deadline for filing taxes.
The Internal Revenue Service urges tax payers to file electronically to expedite their return as it may take up to six months to process a paper return.
With pre-paid child tax credit, the third stimulus check, and new rules when it comes to reporting crypto-currency this year’s return may be a bit more complicated.
According to Certified Public Accountant David Tepper – anyone who needs an extension has until April 18 at midnight.
“An extension of time to file does not give you an extension of time necessarily to pay, so if you believe you owe money because you’ve already done all the work, then interest, slash, penalties are going to start accumulating on April 15th,” he said. “So, if you believe you owe money, you should pay-in what you estimate what you’re going to owe.”
An extension can be filed online – which will give the tax filer until October 15, 2022.
Tepper adds that it’s always best to consult with a tax expert especially for more complicated filings.