(WXYZ) — With the clock ticking on tax deadline day, millions of Americans are racing to file their returns or avoid penalties. The annual cutoff set by the IRS can feel unforgiving, but tax experts say procrastinators still have solid options if they act quickly.
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Inside Liberty Tax in Taylor, it is crunch time. Whether filing online or in person, the window is closing fast, and waiting much longer could cost taxpayers.
"So, a normal day in the tax office, probably we would close 10 to 15 returns, and we have 44 appointments today," Donna Hauser said (left, blue shirt).
Hauser and her partner, Anisa Agalliu (right, yellow shirt), say last-minute filers are more common than people might think for a variety of reasons.
"Most common reasons are they are missing important tax documents, they have complex financial situations and tax situations, unexpected life events, they are afraid they owe back taxes, and also they are snowbirds," Agalliu said.
That is the case for Dave Smith, who just returned from spending the winter months in Florida.
"I got my paperwork right here," Dave Smith said. “So, it’s like I just have to come back and go through all the mail that has accumulated."
With time running out, Smith is choosing a common last-minute move by filing for an extension.
"It’s actually much simpler than people think. You don’t have to know anything, you don’t have to have all your documents even, you just go to IRS.gov, or you come in here, we need your name, your social security number, your ID, and it’s as simple as that," Hauser said.
An extension gives taxpayers more time to file, pushing the deadline to Oct. 15, but it does not grant more time to pay.
"If you owe them money, you should definitely file your extension because at that point it’s only going to accrue interest between now and October, but if you don’t file it’s going to accrue penalties and interest," Hauser said.
For those rushing to file, Hauser noted a significant change regarding refunds.
"The big one this year is that the IRS will no longer mail a paper check. So the last-minute tip is bringing your account number and your routing number because they’re forcing direct deposit," Hauser said.
Hauser shared additional last-minute tips to keep the process moving smoothly. Taxpayers should not file without an official W-2, must double-check mailing addresses if sending returns by mail, ensure their name matches Social Security records, and only claim dependents if eligible.
If taxpayers are worried they missed something in the rush, Hauser said amending a return is very simple.
"We’ll just fix whatever you forgot to bring in to us. If you went somewhere else, we must recreate the return as it was originally, and then making the corrections, and then if you already received your refund and you have more coming, we’ll be like, 'hey, you’re getting more refund. If you owed, it could be the opposite,'" Hauser said.
While experts suggest getting taxes done by April 15, filing an extension is far better than not filing at all.
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