Experts share last-minute tax filing tips

Experts share last-minute tax filing tips

Residents who plan to mail their IRS tax returns are encouraged to complete their required paperwork and mail it at the post office prior to 4:30 p.m. Tuesday, in order to ensure it has an April 17 postmark.

The good news is that this year they will get a reprieve of sorts from the usual April 15 filing deadline - an extra two days to Tuesday, April 17.

For those of you who still need to turns yours in, experts with Quality Tax Service share a few last-minute tips. You can e-file an extension request using tax- preparation software with your own computer or by going to a tax preparer that has the software.

You can do that by filling out the IRS 4868 form. And along with those forms, Mann also recommends compiling all your log-in information for applicable websites, like your company's intranet or a student loan lender, so you can access the information if you misplace some paperwork.

Telephone calls to the IRS may have long wait times.

"It nearly takes detective work to get these deductions out of people", he said.

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Be smart about charitable gifts: The new tax rule almost doubles the standard deduction to $12,000 for single filers and $24,000 for those who are married and file jointly.

"Before you respond to them, before you give out any sorts of personal information, even things like your name, date of birth, especially social security number, don't give that information out unless you can absolutely verify that you're speaking with someone that's from the IRS", said Shifflett. They said those instructions came from a co-owner of Fast Tax in Winston-Salem.

If you are unsure how much you owe in taxes, here's some math to figure out what to pay now.

Cauble says if you were unemployed in 2017, you still need to file. It only gives you more time to file your return.

Be careful about home mortgage interest: As of December 14, 2017, the new tax law mandates that you can only deduct interest for new home loans up to $750,000 (the previous limit was $1 million). Shoring up savings accounts or creating an emergency fund with a tax refund can help Americans prepare for unexpected expenses or reach their other financial goals, such as putting a down payment on a home.

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