Still-Time-Left Tax Time Reminders

With the April 15 federal tax filing deadline approaching, the IRS has released some important reminders to avoid the last minute scramble to get things done.  Taxpayers with income of $84,000 or less in 2024 are able to use the IRS free file system at no cost.  Taxpayers can also use the "where's my refund" tool at IRS.gov to check the status of their refunds.  For faster refunds, taxpayers should sign up for direct deposit.  Taxpayers should also remember that if they need more time to file their taxes, they can receive an automatic extension and file by October 15, 2025.  Taxpayers can request an automatic tax-filing extension through IRS free file by filing a Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return.  However, that filing extension does not apply to payments owed to the IRS.  Taxpayers who owe underpayment amounts must pay by April 15 or they will be subject to interest and penalties.  Taxpayers can, however, request installment plans if they are unable to pay in full by April 15.  Failure to pay penalties are cut in half for taxpayers who are paying on an approved installment plan.  Taxpayers also have until April 15 to fund an IRA and reduce taxable income for the 2024 tax year.  For more information on the tax filing requirements, visit Tax Facts Online. Read More: Link to Q8501.