Published: Mon, April 16, 2018
Money | By Armando Alvarado

Tax Day extended to April 17th this year

Tax Day extended to April 17th this year

Believe it or not, the process of filing an extension on your taxes is probably a lot more painless than you think. Some of the most common mistakes taxpayers make when rushing to meet the deadline include putting down an incorrect Social Security number for a child or spouse, or forgetting to simply sign a paper return.

These numbers should come to light down the road, as this is by far the busiest few days tax preparers and accountants have all year as they scramble to meet the deadline.

Consumers should pay particular attention to how they budget their larger paychecks to make sure the extra money that would have ended up in their tax refund check doesn't get spent mindlessly.

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

If that's not detail enough for you, you can track when the IRS expects to direct deposit or mail yours by using the IRS' "Where's my refund?" tool, which is updated daily.

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If you plan to submit an extension form to the IRS, you must submit form 4868. But you can do yourself a huge favor by aiming to get everything done at least a day or two in advance, Greene-Lewis said. Many are busy this weekend helping clients file their taxes by the April 17th deadline.

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

Daney and Scales said ahead of the 2014 tax filing season they were directed to manipulate client information to maximize refunds. Fundtrat's Tom Lee predicted earlier in the month that the cryptocurrency market took a dip earlier in the year due to investors needing money to pay the capital gains tax. This is especially helpful if you are on the margin between taking the standard deduction and itemizing, which could lower your tax liability. "You can reduce additional interest and penalties by maying as much as you can with your tax return".

Tax refunds from four years ago are gone for good after Tuesday.

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