Economy

Watch out for tax scams ahead of April deadline

Watch out for tax scams ahead of April deadline

Taxpayers will have until this coming Tuesday, April 17, to file their 2017 tax returns and pay any tax due because April 15 falls on a Sunday this year, and Emancipation Day - a holiday observed in the District of Columbia - falls on Monday, April 16.

The department offers two tax filing services: e-File provides a list of software providers certified to submit forms electronically, and using its online forms, which offer fillable online versions of tax forms for taxpayers that prefer to prepare their own returns.

April 17th is the final day to file taxes unless you get an extension.

There are some who, even with the extra days, aren't going to be able to pull everything together to file on time. For the 2015 tax filing year, the IRS indicated that only 802 people had included cryptocurrency gains or losses in their tax filings. They said those instructions came from a co-owner of Fast Tax in Winston-Salem.

This photo shows an IRS W-4 form on Thursday, Feb. 1, 2018, in NY.

CWG 2018: Joshna Chinappa, Dipika Pallikal Karthik claim squash silver
This is his third Commonwealth Games singles medal after winning bronze at the 2010 Games and gold in the 2006 edition. King and Landers-Murphy beat Australians Rachael Grinham and Donna Urquhart 2-0 (11-9, 11-5) in the other semi-final.

Tax pros say there are many legitimate reasons why you might want to file an extension. Felder-Ruiz works for him as a tax preparer, authorities said. "This penalty is larger than for not paying any balance due", advised Gil Charney, director at The Tax Institute at H&R Block. It also includes the fourth quarter estimated tax payment normally due on January 16, 2018.

If you're getting a refund, the IRS would like you to file on time. So if that's you, this is your last weekend to get it done.

If you are unsure how much you owe in taxes, here's some math to figure out what to pay now.

The Big Q: What will be the impact of last years digital currency boom be on U.S. tax payers? But previous debts to the IRS last until they are fully paid.

However, if you can't find a way to pay - file anyway.


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