Don't Worry, You Have Extra Time to File Your Income Tax

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- Two North Carolina tax preparers are headed to prison after admitting they filled out hundreds of fake tax returns involving more than half a million dollars.

Residents who plan to mail their IRS tax returns are encouraged to complete their required paperwork and mail it at the post office prior to 4:30 p.m. Tuesday, in order to ensure it has an April 17 postmark.

"Before you respond to them, before you give out any sorts of personal information, even things like your name, date of birth, especially social security number, don't give that information out unless you can absolutely verify that you're speaking with someone that's from the IRS", said Shifflett.

Ray Maagero, from Liberty Tax in West Springfield told 22News there's a penalty for not filing on time, "So they are 5-percent per month if you don't file an extension or a timely filed return".

Credit Karma Tax GM explained that there is a "good chance that the perceived complexities of reporting cryptocurrency gains are pushing filers to wait until the very last minute".

Tax experts say you should not avoid filing your taxes is because you don't have the money to pay.

At H&R Block in Tyler, tax analyst's see a large influx of customers the last few days before the deadline.

"As long as you pay 100% of your 2016 tax liability - 110% for higher income taxpayers - you will not owe a penalty on your 2017 return", Jaeger said. The IRS will never call or email you. Go back and look at what you paid in taxes past year, including both withholdings and any payments you made (including estimated quarterly payments as well as payments you made last April).

After refunds leave the IRS, it takes additional time for them to be processed and for financial institutions to accept and deposit the refunds to bank accounts and products. Then, subtract this year's withholdings and estimated payments you made over the course of the year, and send the difference to the IRS this year.

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