Last Day to File Taxes Are Due on Monday

As the deadline for filing 2023 tax returns with the IRS looms closer, it's crucial to mark your calendar for April 15. Returns must be submitted by 1159 p.m. in your respective time zone, unless you're in Massachusetts or Maine, where the deadline extends to April 17 due to local holidays.

Exceptions also apply for areas affected by extreme weather and specific circumstances, such as the Oct. 7 attack on Israel. Additionally, extensions are available for certain groups, including active-duty military members and citizens living abroad.

Despite the IRS already receiving approximately 100 million returns by early April, the agency anticipates a total of over 128.7 million individual tax returns by the deadline.

IRS Commissioner Danny Werfel emphasizes that assistance is available for those scrambling to meet the deadline, urging taxpayers to explore their options for last-minute help.

For those opting to mail their returns, adherence to IRS guidelines is essential for timely processing. This includes proper addressing, adequate postage, and a postmark by the due date.

An estimated 19 million individuals are expected to request an automatic extension. While extensions grant until October 15 to file federal tax returns, prompt payment remains imperative to avoid penalties.

Failing to file or request an extension by April 15 incurs fines. To obtain an extension, taxpayers can submit Form 4868, providing essential details like name, address, and Social Security number. Alternately, extensions can be secured through various payment methods, including IRS' Direct Pay and electronic systems, or with credit/debit cards or digital wallets, obviating the need for Form 4868 when indicating the payment as an extension.

Monday Marks Last Day to File Taxes; Some Disappointed by Smaller Refunds, As Monday approaches, taxpayers are gearing up for the final day to file their 2023 tax returns. However, many are finding themselves with smaller-than-expected refunds or, worse, owing money to the government.

Chris Fabian, a tax preparer with EG Tax, highlighted the trend, noting that refunds have dwindled for many taxpayers this year. He attributed this phenomenon to the government's adjustment of federal withholding during the COVID-19 pandemic, aimed at providing individuals with more take-home pay amidst economic uncertainties.

Fabian emphasized the importance of monitoring electronic pay stubs to ensure appropriate withholding adjustments. He cautioned that failure to file taxes could result in the government withholding refunds or even pursuing outstanding payments, accumulating interest and penalties over time.

While taxpayers can request extensions, Fabian clarified that this only delays the paperwork, stressing that any anticipated payments must be settled at the time of filing for an extension to avoid penalties.

As the tax deadline looms, taxpayers nationwide are urged to take prompt action to fulfill their obligations and mitigate potential financial repercussions.

With the end of this year's tax season fast approaching, it's essential to ensure you're prepared to meet the looming deadline. Here's a rundown of what you need to know to beat the clock

Last Day to File Taxes

Federal 2023 tax returns must be submitted by Monday, April 15. 

Consequences of Missing the Deadline

Failure to file taxes on time can lead to penalties, particularly if you owe taxes. The penalty is determined by the amount owed and the original due date of your taxes.

Options for Last-Minute Filers

Even if you've procrastinated, there are still options available to file before the deadline

- Prepare your taxes independently.

- Seek assistance from a professional tax preparer for a fee.

- Utilize free assistance services, which may include virtual appointments due to time constraints.

Free Tax Assistance Programs

If you meet specific criteria, such as income thresholds or age requirements, you may be eligible for free tax preparation services through programs like the IRS Volunteer Income Tax Assistance (VITA) program.

Filing for a Tax Extension

If you can't complete your tax forms by the deadline or are uncertain about owing taxes, you can request an extension. This provides an additional six months to finalize your tax return. However, if you owe taxes, payment is still due by April 15, 2024.

Filing Deadline in Delaware

Delaware residents have until Tuesday, April 30, to file their personal income tax returns. Further information can be found on the Delaware Taxpayer Portal.

Anticipating Tax Refunds

The IRS aims to issue most refunds via direct deposit within 21 days. However, certain factors, such as claimed credits or filing method, may prolong the process. Opting for electronic filing and direct deposit expedites refund delivery.

Checking Your Tax Return Status

Stay informed about your tax return status by using the "Where's My Refund?" tool on the IRS website or via the IRS2Go app. This allows you to track your return's progress and identify any potential delays.

As the tax deadline draws near, it's essential to take proactive steps to fulfill your tax obligations and navigate the process effectively.