IRS Awards Tax Filing Extension for Santa Barbara County

16 April, 2018, 04:00 | Author: Sammy Rose
  • An IRS 1040 form US Individual Income Tax Return

If you owe the IRS, you must pay your tax in full by April 17.

While our taxes are due on Tuesday, many CT and NY residents are sweating the tax day deadline, along with the thought of an audit. Carefully consider the tax consequences of the conversion and maybe even wait until the fourth quarter when you know more about this year's income. The IRS expects more than four out of five tax returns will be prepared electronically using tax software.

Santa Barbara County residents and businesses qualify for a tax-filing extension from the Internal Revenue Service (IRS). Good news, you don't have to file by April 15 to be on time.

You're down to the wire for filing income tax and wish there was some extra time before tax day.

"It nearly takes detective work to get these deductions out of people", he said. The IRS does not require taxpayers to explain or give reasons for their tax extension requests. The bottom line? If you think you owe, file an extension as a way to avoid the late-filing penalty.

If you are due a refund, the sooner you file, the sooner you'll get it.

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Instead, carefully gather and enter your Social Security number, income information and banking information, if needed.

Davis is charged with conspiring to aid and abet the filing of more than 70 false tax returns, seven counts of aiding and abetting in the filing of false tax returns, and three counts of filing his own false tax returns.

So if you were planning to use a HELOC to pay down higher interest auto, boat or student loans, you'll need a Plan B.

Be careful about home mortgage interest: As of December 14, 2017, the new tax law mandates that you can only deduct interest for new home loans up to $750,000 (the previous limit was $1 million).

Then there's "tax relief scams": Watch for deceptive advertisements claiming to reduce a person's tax liability greatly. Life changes, coupled with adjustments made to withholding tables by the IRS in concert with the new tax law, mean many Americans run the risk of having either too much or too little money taken out of their paychecks. In those cases, you may be given two additional months to file, which makes your return due on Dec.15.

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