Tax Day: Procrastinator Resources

You knew April 15th was tax day and the deadline to send in your 2009 tax return and a check to Uncle Sam. You meant to send off the return and didn’t or just didn’t have the money. Either way, you have until the end of the day to get it to the Post Office.

Here’s a video we just aired about why it’s important to file something, even if you can’t pay.

I grabbed my Flip camera and drove down to my Post Office, return and check in hand. Much to my surprise, at 9:30 in the morning, there were very few people there.

I was greeted by a pleasant worker who asked if I wanted to send my return first class. I looked at her with confusion and said, “It’s only going to the government,” and she got a chuckle out of that.

Anyway, I managed to stop a few folks to find out why they were sending in the return so late. I want to apologize for the wind. It’s really breezy here today.

Again, you have until midnight to have your return post marked or face late fees and penalties.

The extension.

If you cannot get that return in on time, you’ll need to file an extension. The IRS expects to receive 10-million extension requests, so you’re not alone. But, keep in mind, this is only an extension to file, not an extension to pay.

According the the IRS, “The extension gives you an additional six months, until Oct. 15, to file the tax return.”

Filing and Paying on Time Saves Money
If you have a balance due and do not pay by April 15, you are subject to a failure-to-pay penalty. But if you cannot complete your return and file it by April 15, you’re subject to an failure-to-file penalty.

So if you can’t pay the full amount you owe, you’ll still benefit from filing your return or an extension and paying as much as you can by April 15th, because interest and penalties are due only on the unpaid balance.

Members of the military and some others currently serving in combat zones can wait until after April 15 to file and pay. Those eligible get the extra time penalty- and interest-free without having to ask for it. Normally, the filing and payment deadline is postponed until 180 days after the service member leaves the combat zone. Victims of recent natural disasters, listed on IRS.gov, also have extra time.

Payment options.

The IRS has attempted to soften their image with the offering of payment options and plans. If you simply cannot pay what you owe, use the link below to work out a payment plan.

Common filing mistakes

To avoid delays in your return, the IRS has put out a list of ways you can make the filing process a lot smoother. Check it out.

There’s one group that needn’t worry at all!

If Uncle Sam owes you, don’t get caught up in the frenzy around April 15th deadlines. While you obviously should file to get your refund ASAP, you’re not going to be penalized for filing late.

How to find cheaper car insurance in minutes

Getting a better deal on car insurance doesn't have to be hard. You can have The Zebra, an insurance comparison site compare quotes in just a few minutes and find you the best rates. Consumers save an average of $368 per year, according to the site, so if you're ready to secure your new rate, get started now.

Read Next
5 Upgrades That Help Seniors Grow Old in Their Own Homes
5 Upgrades That Help Seniors Grow Old in Their Own Homes

Are you planning to “age in place”? These safety-conscious home renovations can help.

7 Secret Perks of Individual Retirement Accounts
7 Secret Perks of Individual Retirement Accounts

IRAs come with bells and whistles that many other savings and investment accounts lack — including some that you may not know exist.

8 Common and Costly Homebuying Myths
8 Common and Costly Homebuying Myths

Think you’re ready to buy a house? Don’t fall victim to these rookie mistakes.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Comments

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.

Trending Stories