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Can I Still File a Tax Extension for 2018?

tax extension 2018
Don’t wait until the last minute to file your 2017 tax return.

April 18th has passed for the 2018 tax season deadline. However, you can still e-file your tax return until October 15, 2018; the e-file and tax extension deadline. Even if the 2018 tax deadline has passed, those with refunds can still e-file their tax return without any penalties.

On the other hand, individuals with a tax due may end up facing interest, late filing penalties, and failure-to-pay penalties. We advise that you file your tax return as soon as possible so you receive your refund faster.

Can I still file a tax extension?

Continue reading “Can I Still File a Tax Extension for 2018?”

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Delay in State Tax Refunds for 2016

Identity theft is real, and it is REALLY affecting when we get our state refunds.

Remember being in elementary school, when your teacher would tell the class that if one more student misbehaved, then the entire class would be forced to sit inside for recess that day? There was always that one kid who would ruin it for everyone.

That is similar to what’s going on with identity theft affecting state refunds this year. State revenue departments decided that there were too many cases of fraudulent activity and that they needed to do something. This means that refunds are being delayed a bit in order to double check certain taxpayer information.

Let’s take a look at the states that took a little extra precaution this 2016 tax season.

Illinois and South Carolina

These guys put provisions into play from the very beginning of the season. If you filed your state return in January or February, then you wouldn’t have seen your refund until at least mid-March. On top of that, if you filed your return after March 1st, 2016, then your refund was sent approximately three weeks from the date it was accepted.  

Hawaii

Taxpayers could be waiting for their state tax refund anywhere from four to sixteen weeks after being accepted. Good thing that Maui ranks as the #1 vacation spot in the U.S.! You won’t need to travel too far to relax and forget about the lack of refund money you’re waiting on.

Idaho

Identity theft in the Great Potato State has increased by nearly 64% since 2014! Extra safety measures means taxpayers will be waiting about seven weeks for their state refund from the time it is accepted. The ID Department of Revenue recommends responding ASAP to any letters you receive from the Tax Commission to speed up the processing time. Continue reading “Delay in State Tax Refunds for 2016”

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7 Filing Tips to Get Your Tax Refund ASAP

Waiting for your tax refund can really test your patience.

Unfortunately, we can’t speed up the actual processing time of your tax return once the IRS gets hold of it. However, there are actions we can take to ensure a smoother journey through the IRS database. Let’s take a look at seven steps you can take when filing your tax return this year.

E-File your tax return.

Oh, how far technology has come. You can e-file your tax return worry-free until the April deadline. After that date, you can still e-file until the October deadline. However, if you can’t get it filed before mid-April and you’re not sure if you’re getting a refund, you’ll want to file an extension. Either way, the IRS processing time is quickest with e-filing. Compared to mailing in your return, you could be speeding up your refund by almost a month!

Choose direct deposit to receive your refund.

Many businesses offer a direct deposit option to their employees, so it only makes sense that the IRS would offer the same. After all, it’s your money. This is preferred by many taxpayers, based on convenience. On top of that, waiting on direct deposit will eat up less of your time than waiting on a check in the mail.

Make sure you’re the only one claiming your dependent(s).

This can be easier said than done in some cases. However, if you know someone who could also claim your dependent on their tax return, do your best to verify that they won’t be. Why? A person can only be claimed once per year. If a dependent is claimed by more than one person, then the second tax return to claim them will be rejected by the IRS. If the second person to claim the same dependent appeals to the IRS, the IRS may pull the first return for review, to make sure that taxpayer was allowed to claim the dependent. In either case, this will ultimately delay your tax refund. Continue reading “7 Filing Tips to Get Your Tax Refund ASAP”