Tax season almost over; deadline quickly approaching

JACKSON, Tenn.—Tax season is almost at a close with the deadline coming on Monday.

April 15th has come and gone, but lucky for taxpayers they have some extra time to file this year due to Emancipation Day.

“It’s a little bit unusual, it doesn’t happen too often, but this year they gave the taxpayers a few extra days in order to file that return because of that holiday,” master tax advisor Jim Metcalf said.

The deadline has been extended until Monday the 18th, three extra days to take care of taxes, which many people have already taken advantage of.

“People wait until the last minute to get things done and when you wait until the last minute to get things done, it tends to be that much more stressful and and I try to be as stress free as possible,” taxpayer Amanda Maddox said.

Tax experts say one in three people wait until April to file their taxes, but the most important thing is to take some sort of action before the deadline or face serious consequences.

“There is a penalty for failure to file which is ten times greater than paying your taxes by the 18th,” Metcalf said.

If you aren’t able to file your tax return, experts said you can file for a six month extension by filling out the proper IRS form.

“Complete that form and we recommend if you can estimate your tax liability and at least pay 90% of that avoid paying the penalties,” Metcalf said.

Advisors said you can file in person or through a certified online service, but recommend you have an expert to talk you through the process.

“It’s our area of expertise we go through a thorough training every year to get updated on the met current laws related to your tax situation,” Metcalf said.

The deadline to file your return or for an extension is tomorrow night at 11:59 P.M.

If you cannot pay your taxes all at once, you can set up a payment plan with the IRS.