A new survey finds the most common reason for delaying is there’s no refund, so no rush to file. But that could be a big mistake, as the IRS is reporting tax refunds are nearly 12% higher over last year.
To maximize your refund, 7 On Your Side’s Nina Pineda has some great last minute tax tips.
First, the good news: Refund checks are fatter this year.
Roughly 58 million checks that went out already averaged $3,263, which is a whopping $400 more than average returns for last year.
More 7 On Your Side | Woman waiting months for billion-dollar company to refund $59.11
To get your money quicker, file electronically and get a direct deposit right into your bank account
“The sooner that you file, the faster your tax refund can be processed,” debt relief attorney Leslie Tayne said.
Tayne, based in Melville, says the biggest mistake her clients make is ignoring the deadline. If you just can’t get your paperwork together by Monday, file an extension.
“It’s a very simple process,” she said. “It’s a free form, and it’s form #4868. You can file that form, but you need to file that form before April 18…Keep in mind that while the extension grants additional time to file your taxes, the tax payments are still due April 18 for most taxpayers.”
If you can’t afford to pay your entire tax bill, Tayne says try…
