Last Minute Filing Tips

By Zaneta Lowe  - bio | email

COLUMBUS, GA (WTVM) - As the filing deadline of April 18th quickly approaches, officials with the IRS are offering tips for taxpayers who haven't filed:

• The IRS has $35 million in unclaimed refunds for Georgians who have not filed a 2007 tax return. In order to collect the money, a return must be filed with the IRS no later than Monday, April 18, 2011.

• If you wish to amend your 2007 return, it must be mailed by Monday, April 18.

• Taxpayers who need extra time to file their federal returns this year can file the Form 4868 request for an automatic extension through IRS Free File. The extension gives you an additional six months, until Oct. 17, to file the tax return.

• An extension of time to file is not an extension of time to pay. You need to estimate your tax liability and pay any balance due when you request the extension. Several payment options are available, including electronic funds withdrawal, credit card and check.

• If you are unable to pay the total balance due, you should pay as much as possible and then contact the IRS about an installment plan. Even if you cannot pay the balance due, it is important to either file a return or request an extension to avoid the failure-to-file penalty.

• Free File and Free File Fillable Forms will be available through Oct. 17.

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