Last Day to File Income Taxes, Seek Extension

If you haven't yet filed your 2015 income taxes -- despite having three extra days to do it -- you have only hours left to stay in Uncle Sam's good graces.

Because of a holiday in the nation’s capital, the filing deadline to submit 2015 tax returns is Monday, April 18, 2016, rather than the traditional April 15 date.

The Internal Revenue Service says that because Washington, D.C., celebrated Emancipation Day on April 15, that pushed the federal tax deadline to Monday for most of the nation.

Need an Extension on Your Taxes?

If you need more time to file, you can use IRS Free File to get an automatic six-month extension to file your taxes. But if you owe taxes, those must be paid April 18, even with an extension to file your return.

Taxpayers who can’t pay the taxes they owe by April 18 may set up a monthly payment plan using the Online Payment Agreement option on IRS.gov. A number of e-payment options are available. Or send a check or money order payable to the “United States Treasury."

On rare occasions the IRS will give you a waiver if you can show reasonable cause for not filing on time. That's pretty much limited to victims of natural disasters or other extraordinary circumstances. Just failing to get your paperwork together to file on time will not let you escape federal penalties.

Filing Deadline Dates

In Maryland, if you both file and pay electronically, your return is due April 18. However, taxpayers have until April 30 to make an electronic payment via your personal computer using the state's free online service.

Most states also require income taxes to be filed on April 18, but there are exceptions. Louisiana gives residents until May 15 to file, Virginia's deadline is May 2, and the Iowa deadline is April 30, according to efile.com.

Due to Patriots Day, the deadline is Tuesday, April 19, in Maine and Massachusetts.

Need a post office open late to mail your paper return? Search on this U.S. Postal Service website for locations near you.

Last-Minute Filing Tips

The IRS has these tips to help the procrastinators:

• File electronically. Filing electronically, whether through e-file or IRS Free File, vastly reduces tax return errors, as the tax software does the calculations, flags common errors and prompts taxpayers for missing information. And best of all, there is a free option for everyone.
• Mail a paper return to the right address. Paper filers should check the appropriate address where to file in IRS.gov or their form instructions to avoid processing delays.
• Fill in all requested information clearly. When entering information on the tax return, including Social Security numbers, take the time to be sure it is correct and easy to read. Also, check only one filing status and the appropriate exemption boxes.
• Review all figures. While software catches and prevents many errors on e-file returns, math errors remain common on paper returns.
• Use Direct Deposit. The fastest and safest way to get your refund is to combine e-file with direct deposit. The IRS issues more than nine out of 10 refunds in less than 21 days.
• Get the right bank routing and account numbers. Requesting direct deposit of a federal refund into one, two or even three accounts is convenient and allows taxpayers access to their money faster. Make sure the financial institution routing and account numbers entered on the return are accurate. Incorrect numbers can cause a refund to be delayed or deposited into the wrong account.
• Visit IRS.gov. The website has forms and other info you need to file your tax return. Click on the "Filing" icon for links to filing tips, answers to frequently asked questions and IRS forms and publications. The IRS has many online tools on IRS.gov to help you file and answer your tax questions. The tool gives the same answers that an IRS representative would give over the phone.

Warnings on Phishing Scams

IRS officials and Maryland Comptroller Peter Franchot are warning taxpayers to be alert to new phone and email phishing scams trying to trick victims into divulging their personal information.

“If anyone calls you or sends you an email asking for your Social Security number, don’t respond,” Franchot said. “If these scammers try to talk you, hang up immediately. These are criminals trying to steal your identity and take your money.”

The IRS said scammers are calling or emailing taxpayers to verify the last four digits of their Social Security number by clicking on a link provided in an email, which claims that recent data breaches across the nation may be involved.

Government offices do not send emails like this, authorities said.

Taxpayers should not reply to emails requesting confidential information, especially your Social Security number, birth date, salary information or home address. If you receive an email asking for a copy of your W-2 form, you should immediately contact your employer. You also may call 1-800-MD-TAXES or emailmdcomptroller@comp.state.md.us.

Options for Software Tax Programs

TurboTax, H&R Block, TaxAct and other software programs can walk you through your return, but you still have to have all your paperwork in order. Here’s how the programs compare, courtesy of The New York Times.

Getting Ready for Next Year's Taxes

Experts suggested creating a simple filing system to keep track of pay stubs, receipts, and any other information you’ll need when April 2017 rolls around.

That system can be as easy as five envelopes: a large manila envelope and four standard white envelopes, dedicated to insurance receipts, medical, home/car repairs and “other,” says WalletHub. Another option is to keep a file for the current year’s taxes and record information about tax-related items – such as charitable deductions, tax payments, medical expenses and business expenses – as they occur.

Taxpayer Rights

Every taxpayer has a set of fundamental rights they should be aware of when dealing with the IRS. These are yourTaxpayer Bill of Rights. Explore your rights and IRS obligations to protect them on IRS.gov.

»Image: DonkeyHotey, used under Flickr Creative Commons license