IRS Urges Timely Tax Filing Ahead of April 15 Deadline to Avoid Penalties and Interest
As the April 15 tax filing deadline approaches, the Internal Revenue Service (IRS) is reminding taxpayers about the importance of filing their returns on time to steer clear of potential penalties and accrued interest. With the deadline drawing near, the agency has stated that failing to timely file can lead to unwanted financial consequences for those with outstanding tax liabilities.
Importance of Timely Filing
Raphael Tulino, a spokesperson for the IRS, highlighted the critical nature of adhering to the filing deadline. "If you have a requirement to file, you should do so. That way you avoid penalties and interest that can accrue on your account if you have a balance due," he remarked. Tulino’s insights come as many taxpayers prepare their annual returns, navigating assorted tax obligations.
Who Needs to File?
Filing requirements can differ significantly among individuals and are dependent on various factors including gross annual income, marital status, age, and whether the taxpayer can be claimed as a dependent. While the majority of taxpayers have an obligation to file, those with lower to moderate incomes might not be required to do so. However, Tulino encourages these individuals to file nonetheless to claim any applicable benefits. "Most of us have a requirement to file but generally those on the lower to moderate income side may not have a requirement but should do so in order to get the benefits they are entitled to," he explained.
Filing Options Available
The IRS offers multiple filing options to assist taxpayers during this busy season. One notable service is ‘Direct File,’ which allows eligible residents of Nevada to conveniently file their returns. To be eligible for this service, taxpayers must have lived in Nevada for the entirety of 2024, earned all their income within the state, and cannot be filing as ‘married filing separately.’
Taxpayers are also advised to exercise caution when opting for third-party tax preparation services. Tulino recommends choosing reputable professionals, ideally from recommendations or established sources. He emphasizes the importance of reviewing any returns filed by these services to ensure they accurately reflect the taxpayer’s financial situation.
Anticipating Tax Refunds
For those taxpayers expecting a refund, the IRS advises that the majority should receive their refunds within three weeks if they choose the direct deposit option. However, Tulino warns of the prevalence of tax scams, urging taxpayers to remain vigilant. "Under no circumstances will the IRS reach out to you via text or email or provide advice on social media regarding how to do your taxes or what benefits may help you going forward, especially if it sounds too good to be true," he cautioned.
Extension for Filing
For taxpayers who require additional time to prepare their returns, the IRS allows for an extension to file by submitting Form 4868 before midnight on April 15. Tulino clarified that this extension provides more time to file, not to pay. If a taxpayer believes they owe taxes, they are still responsible for payment by the original deadline to avoid any penalties or interest that may accrue on outstanding amounts. The extended deadline for those who file for an extension is October 15. As the deadline approaches, the IRS continues to encourage taxpayers to take proactive measures to ensure compliance and avoid financial repercussions. Taxpayers are urged to review their circumstances carefully and utilize available resources to facilitate their filing process.
For additional inquiries or assistance, taxpayers can reach out to the IRS or consult a qualified tax professional for guidance.
For more updates, you can follow Anthony Ramos on X (@antramosnews) and on Facebook.
This article aims to provide taxpayers with the necessary information regarding the upcoming tax filing deadline and the significance of adhering to it, maintaining a neutral and informative approach throughout.
Share this article:
