BATON ROUGE, La. (BRPROUD) – Only two weekends lie between you and the IRS’s tax deadline. Experts said it’s unlikely that there will be an extension to file this season.
“April 18th is the deadline to file and pay. We can fill it out and file it on our own, we can use an online system, or a tax prep company that is online or you can also hire an accountant to file them for you,” said expert and author of Financial Adulting: Everything You Need to be a Financially Confident and Conscious Adult Ashley Feinstein Gerstley.
While there was an extension for the previous two years, accountant Karen Lovejoy of Thomas-Rodgers Associates believes that the IRS is getting back to normal.
“I don’t see them doing it again because this is kind of like that year offset from COVID. So, I don’t see them doing another extension,” said Lovejoy.
According to Lovejoy, the only delays there might be this year are if there is misinformation.
“The only delays they would have would be only from people who say they got stimulus and they didn’t get stimulus. Or they say they didn’t get it and they did. It may be on some credits but no I do not see a delay this year.”
If you haven’t filed yet there are some steps you need to take.
“Do an extension if they think they are going to owe money by April the 18th, they need to do an extension,” advised Lovejoy. “Extension to file will give them six more months but keep in mind, an extension to file is not an extension to pay.”
There are ways to make paying easier for you.
“You filed your taxes but you owe an amount that you are unable to pay,” said Gerstley. “Instead of just not paying it, you can work out a payment plan with the IRS.”
Gerstley discussed how you can make tax season less stressful by starting as early as possible and keeping the previous year’s documents. So, it will be easier and you will know what to expect and what to bring. Her book Financial Adulting: Everything You Need to be a Financially Confident and Conscious Adult goes into more detail about how to prepare for tax season.