Millions of Americans have extended their tax filing date from April 18, 2017 to October 16, 2017. In IR-2017-169, the Service offered last-minute filing tips for those taxpayers on extension.
1. Potential Tax Benefits
- Low and moderate-income taxpayers may qualify for the earned income tax credit (EITC), the Saver's Credit or the American Opportunity Tax Credit for education benefits. Check www.irs.gov
for the EITC Assistant or for information on the Saver's and American Opportunity Credits.
2. eFile and FreeFile
- The IRS reports that 87% of returns this year will be filed electronically. If you have income of $64,000 or less, you may use www.irs.gov/FreeFile
to prepare your tax return. The best and quickest way to receive your tax refund is through a direct deposit to your bank account.
3. Free Tax Help
- You can search www.irs.gov
for "free tax preparation." The IRS website will help you locate a Volunteer Income Tax Assistant or a person with the Tax Counseling for the Elderly program. These volunteer tax preparers are IRS-certified.
4. Easy Payment Options
- If you owe tax, Direct Pay from your checking or savings account is an easy way to make the payment. You also may use a debit or credit card to make the payment. The IRS does not charge any fee for a debit or credit card, but there may be bank fees. You also can enroll in the Electronic Federal Tax Payment System. Everyone must file by October 16 even if they cannot make the required tax payment at that time.
5. Tax Relief Programs
- If your tax bill is under $50,000, you can use the "Online Payment Agreement." Alternatively, you can file IRS Form 9465 to set up a payment plan with the IRS. Some taxpayers may qualify to make an "Offer in Compromise." The IRS will negotiate with these taxpayers to determine a payment amount. This payment amount is based upon an IRS estimate of the financial capability of the taxpayer.