On Tax Day, an extension may be better than rushing a return
WASHINGTON (AP) – Monday is Tax Day, the federal deadline for individual tax filings and payments.
The IRS expects to receive tens of millions of last-minute filings electronically and through paper forms.
The executive director of the National Society of Tax Professionals, Nina Tross, says if people haven’t filed their taxes by now they’re better off filing an extension.
Tross adds that filing an extension has “zero effect” as long as filers have paid their income taxes by Tax Day.
Tross warns that rushing a return to meet the deadline only to have to amend it later is likely to draw a second look by the IRS.