JACKSON, Miss. – If you haven’t taken the time to calculate what you owe Uncle Sam, or what he owes you, there are just three days remaining to figure it out.
Now there’s always the option to file an extension, but experts say you could still see a penalty if you aren’t careful.
“People tend to just want to wait, they don’t want to know if they do owe,” Public Accountant, Ava Kimble said. “Those that don’t owe, they just wait around and don’t want to do their tax returns.”
For 35 years Kimble has been crunching numbers as a public accountant, and over the years she has seen many changes, but something that hasn’t — last minute tax filers.
“You can still file an extension, but it does not stop the penalties,” Kimble said. “That’s just an extension to prepare your tax returns not an extension to pay.”
The penalties start rolling in as early as April 19th after the deadline, so now for many people it’s a race against the clock.
“If you are a tax client who has a W-2, one W-2 one or two of them I believe you can do it yourself,” Kimble explained.
You can file online or get hard copies of the forms you need, but if you have deductions a preparer is recommended.
You should research the person or company doing your taxes to protect your personal information, and to avoid filing errors.
“Better Business Bureau, you can ask them about a certain tax preparer such as that in searching out their credibility and that’s the main thing–people’s credibility,” Kimble stated.
Kimble advises never cheating on your taxes, and steering clear of preparers that only focus on getting you a big refund.
“That’s not what the tax law is all about, it’s just paying in your fair taxes, based on what you’ve had withheld and what you can deduct according to the tax law,” she said.