ROANOKE, Va. – The April 17 tax filing deadline is quickly approaching, so 10 News talked with a senior tax analyst with H&R Block about what you need to remember if you haven't filed yet. Shirley Wolfe answered some of your common questions:
What is a key thing for last-minute filers to remember?
"I advise people to make sure they bring in all of their documents, all of their income, all of their expenses. It's better to have too much than not enough."
What do tax filers sometimes overlook?
"A lot of people aren't aware of what they can itemize. I have a checklist that I give my clients to help to remind them each year what to bring in, showing what they may be able to itemize, and we work through it to make sure."
What if I need more time to file my 2017 tax return?
"If they don't think they can file their return by April the 17th this year, we can file an extension form, which gives them up until October the 15th to actually file their tax return."
If I file an extension, do I have more time to pay my tax bill?
"Even though they have an extension to file, it does not give them an extension to pay without a penalty."
What if I can't afford to pay my tax bill in one payment?
"The IRS has several options, one of them being a short-term installment, which there is no set-up fee and you have 120 days to pay your tax bill, however, interest and a penalty will still accrue. They also offer you an installment plan, which allows you 72 months to pay your tax bill and that does have a set-up fee, plus the penalty and interest."
You can find more tax information and resources at www.irs.gov.