Tax Tips Internet Video - Friendly, Conversational, Informative
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EnglishVoice Age
Young Adult (18-35)Transcript
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Millie presents five tax tips for the last minute filer. If May 17th is sneaking up on you, here's what to do number one don't ignore the deadline when you don't file your taxes and you owe money, the government may charge you 5% of your unpaid taxes for each month. Your return is late up to a max of 25%. That can easily add up to thousands of dollars number to apply for an extension. Anyone can get an extension through october 15th. Get one online using I. R. S. Free file or tax software number three pay what you can. Even with an extension, you must pay what you think you'll owe by May 17 to avoid interest and penalties. Number four. Know What? Can't Wait. Don't forget to fund an individual retirement account or health savings account for 2020. You should do this now. Even if you get an extension number five, don't get sloppy common errors that can delay your refund include misspelling a name or reversing two digits in your social security number, proof your return. The average refund is about $2500. For more financial advice and stories visit synchrony bank dot com slash millie