File for a six-month extension if you can't get your return prepared by Monday's filing deadline, using Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return.
"A lot of taxpayers, if you don't do it, they tend to forget", he said.
In Horn's more than 25 years of experience, most taxpayers filed at the last minute because they were waiting on a 1099 form or a document from a partnership or a business in a taxpayer has invested, such as K-1 form.
"The extension is an extension of the time to file", Horn said. "It also means avoiding penalties and interest", said Kathy Pickering, executive director of The Tax Institute at H&R Block.
Gayas also announced BIR allows extension in tax payments until July 15 to tax dues amounting to P2, 000 and above, provided half of the amount is paid upon filing of the ITR on or before the April 15 deadline. The IRS under President Barack Obama also did not reject returns with the box left blank last year or the year before, but it had announced it would step up enforcement of what's known as the "individual mandate" for tax year 2016.
But whatever your reasons for being behind on tax prep, take heart: If you want an extension on filing, the Internal Revenue Service will give you one - no questions asked.
If it comes down to it, you can request a filing extension.
USA citizens and resident aliens who live and work outside the US and Puerto Rico have until June 15, 2017, to file their 2016 returns and pay any taxes due.
"If they don't check [the box] and don't fill out the forms, it will not show a penalty on the return and the return will get accepted by the IRS", said Lance Campbell, a certified public accountant with Hawkins Ash CPAs in Rochester. Once a return or claim has been submitted, filers may check myVTax for the status of their submissions and income tax refunds.
"If a person is late with filing and late paying taxes, if they're diligent and proactive with the tax authorities, that's the best way to position yourself for best possible outcome", Speiss said.
Mail your completed tax extension form for 2016 to the IRS or file the form electronically by using an IRS e-file form.
At the state level, average income tax refunds ranged from a low of $2,300 in ME to a high of $3,130 in Texas. "If you don't pay the amount due by the regular due date, you'll owe interest", the IRS warns on its website. "The IRS has options if you can't pay all the tax on time, like installment agreements", he said. "It is not an extension of the time to pay". The monthly penalty for not filing a tax return is 5 percent and capped at a maximum of 25 percent. For paper returns, the error rate is considerably higher, at 21 percent.
To avoid late filing charges, Jaen called on local taxpayers here to settle their obligations.