On Your Side: 2020 tax deadline is a few days away
SPRINGFIELD, Mo. (KY3) -The tax deadline is one week from today. It was extended for a second straight year because of the pandemic. If you have not filed yet, On Your Side can help.
You need to get your taxes filed ASAP.
“You have to have your taxes done or you could face late file penalties,” said Tiffany Cossey, Professor of Accounting at Drury University. She says if you’ve procrastinated, here’s what to do.
You can still hire a tax pro. Many work all year long. Call them now. Or file your own.
“There’s still the option to file for free at myfreetaxes.com. If a person has a simple return they can go on and file without any charge,” she said.
There are plenty of companies that can help you file online like TurboTax and H&R Block.
Another reason to get it done? If you did not get your stimulus or you’re owed more. The IRS gives what’s called plus-up payments. Meaning you had a life changing event in 2020 and qualify for a little more stimulus money.
If you filed for an extension you still must pay the estimated taxes you owe. Otherwise, you accrue interest and possibly other penalties.
If you owe Uncle Sam that deadline is May 17.
While it’s not recommended, you can pay your taxes with a credit card. There are fees. Those vary, read the fine print.
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