If you’re one of the millions of Americans planning to file a federal tax extension this week, you may be wondering if you should do so before October 15 since the government is currently closed.
The simple answer is yes – for most filers. (Two exceptions, however, are if you are affected by a federally declareddisasteror if you werelive outside the country on the due date.)
This year, many people are wondering if the Internal Revenue Service (IRS) deadline still stands, considering the Trump administration has leave 34,400 of the approximately 74,300 employeesagency said. That is more than half of the current workforce.
“As a result of the government shutdown, the American people lost access to many essential IRS services as the agency laid off thousands of employees,” the National Treasury Employees Union said.said. “Expect longer waits, backlogs and delays in implementing tax law changes as the shutdown continues. Taxpayers across the country will now have a much harder time getting the help they need.”
“There is no leave within the filing deadline,” said Tom O’Saben, director of tax content and government relations for the National Association of Tax Professionals told The Detroit Free Press. The IRS is still required to continue collecting all taxes owed, the newspaper said.
About 20 million people applied for a six-month extension in April tax authoritiesand the agency expects that number to remain about the same, with 19.8 million people next fiscal year, CNBC reported.
Despite all that, if you’re still thinking about towing, there’s one thing to note that you’ll have to do pay a fine on any money you may have owed in April.
Do I have to file a tax return electronically or by post?
If you’re expecting a tax refund, you may want to file your return electronically instead of by mail so you can get your money back sooner. according to Nerd wallet.
What happens if I miss the October 15 tax extension deadline?
If you miss this deadline, the IRS will consider your return late and you will be subject to the penalty these finesNerd Wallet confirmed.
#Pay #Taxes #Government #Shutdown