ALBUQUERQUE, N.M. (KRQE) - Monday, April 15 is your last day to file your 2018 taxes.
The IRS says as many as 50 million taxpayers have yet to file. If you're unable to get everything in order before midnight Monday, the IRS recommends filing for an extension. Form 4868 will give you an automatic additional six months to file your tax return. With the extension, you have until Oct. 15 to file your 2018 federal income tax return.
However, an extension to file is not an extension to pay. If you owe taxes, you will want to set up an estimated payment. That way you're not continuing to accrue penalties.
You can also file for an extension by using IRS Direct Pay or the Electronic Federal Tax Payment System. If you use these payment services, you don't have to file a separate Form 4868 because you'll indicate that the payment is for your extension.
For more information on taxes, visit www.IRS.gov
Nine common mistakes to avoid when filing:
- Missing or inaccurate Social Security numbers
- Misspelled names
- Filing status errors
- Math mistakes
- Errors in figuring tax credits or deductions
- Incorrect bank account numbers
- Forms not signed
- Electronic filing PIN errors
- Filing with an expired Individual Taxpayer Identification Number (ITIN)