If you're waiting until the absolute last moment to file your taxes, you're not alone - and you're not out of luck. That means almost 50 million taxpayers have either spent the last week scrambling to locate key documents and file their returns, or have scrambled to locate key documents and instead filed for an extension. In fact, they're lower than they've ever been in the past 15 years, primarily due to a reduction of the IRS' budget according to the New York Post.
Tax Day is four days away.
An extension, however, serves to delay only any refund you have coming.
One thing you should always do not forget to avoid being scammed during tax season, is that the IRS does not call and demand your personal information.More news: 'Rampage' Wins Weekend Box Office, Narrowly Beating 'Quiet Place'
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Tax Day is **not** April 15-th this year, like usual.
"Before you respond to them, before you give out any sorts of personal information, even things like your name, date of birth, especially social security number, don't give that information out unless you can absolutely verify that you're speaking with someone that's from the IRS", said Shifflett. Specifically, if the IRS has found an error on your return or requests more information from you.
"The IRS will work with you", he said. Fundtrat's Tom Lee predicted earlier in the month that the cryptocurrency market took a dip earlier in the year due to investors needing money to pay the capital gains tax.
To find out how much you have to pay, you can use the payment estimator provided by the IRS on their website. Some are income basic but it's only a little bit throughout the year, so I think it's good that everybody looks forward to that refund. Shoring up savings accounts or creating an emergency fund with a tax refund can help Americans prepare for unexpected expenses or reach their other financial goals, such as putting a down payment on a home.