If you were granted extra time to filed your taxes this year, time is up. The deadline to get your tax documents to the IRS is Oct. 16.
While taxes are typically due in April, taxpayers who are unable to file on time can apply for a six-month extension to gather and submit their paperwork. Taxpayers are still expected to pay any money they owe on time.
But there’s no second snooze on taxes. If you were granted an extension and still haven’t filed, the IRS advises you get that paperwork in as soon as possible — especially if you owe money.
Taxpayers who fail to file and pay on time could owe interest and be charged a penalty.
Since you already have taxes on the brain, why not get ahead of the game for 2018?
Last week, the IRS published a tip sheet with suggestions for how taxpayers can avoid headaches next year by taking action now. For example, report name changes as soon as possible.
People who use an Individual Tax Identification Number, or ITIN, should check if their number is expiring at the end of the year and take steps to renew it.
ITINs are issued to individuals who do not have and are not eligible to obtain a Social Security Number. As a result of a security update, ITINs that have not been used on a federal tax return within the last three years will expire at the end of 2017.