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  • Chapter 43: Peak Tax Season

    Tax Day is April 15th!

    Easy Ways To Self File

    The IRS provides resources where you can self file your taxes for free online.

    Alternatively not official programs I have used before to file:

    TurboTax is free only for SIMPLE returns, IE only if you have to report a W2 from your employer. (simple state is free too)

    Cash App Taxes (formerly Credit Karma Taxes) is also free with no income limits. The only catch is there is no auto import features. All info must be typed manually (including every stock proceed/ purchase) if you report capital gains taxes.

    Get Help Filing

    The IRS also provides information for resources to help low income filers get their taxes prepared for free through the VITA program. This program isn’t limited to people with low income. It’s also for people with disabilities and limited English speaking abilities.

    Owe And Can’t Pay?

    You can ask for an extension but you must ask for this extension before April 15th! The penalties are slightly less if you admit you need more time to file. Extending your tax deadline while having a tax liability does not forgive interest that you will be charged. The extension should only be used if you haven’t gotten all your documents together to file.

    The IRS does have payment plans, you can do short term or long term payment plans. Although they offer this payment plan this does not forgive interest as well.

    The IRS recommends you to file your taxes even if you can’t pay, there will be less penalties for filing your taxes on time.

    You can even pay your tax liability with a credit card. The IRS is not an entity you want to stay owing money to.

    Final Thoughts

    At least file your taxes by April 15th to avoid penalties. They get more severe the longer you wait. If the IRS owes you money they can even take some of it away in penalties for not filing on time as well. There are plenty of resources for you to file and even if you have to pay to file the $100 filing fee is well worth it as opposed to the IRS penalties and fees.