NORFOLK, Va. — We're almost at the deadline for Tax Day 2019, and some people may still be rushing to file their taxes.
According to Tina Williams form H&R Block, the best thing to do now is file your extension.
"It doesn't give you more time to pay, but it does give you more time to file," said WIlliams. "That way you avoid some of the penalties that can be applied, up to 25 percent of what you owe the IRS."
If you need to figure out what you owe and how much you need to pay to avoid a penalty, online tax calculators can help you estimate.
"When you file an extension, you're supposed to pay 90 percent of the money that's owed to the IRS," Williams explained. "You can estimate exactly what you think you may be owing once the penalty is applied if you do not file by midnight."
In order to avoid this problem next year, you can get a jump on next year's taxes by saving documents now. Williams said there are websites and programs that allow you to upload documents electronically and store them.
A checklist could also help.
"It allows you to create your own customized checklist," said Williams. "That way you can start to check off the things you may need, and that way you don't have to wait so late to get your taxes filed. We can finish them up as you start to get your documents in."
If you have any more questions or need more information, check out the IRS website.