The U.S. tax deadline is here for all U.S Residents, and if you’re one of the millions scrambling to get your ducks in a row, don’t sweat it. We’ve got some last-minute tips and tax facts to help you navigate this tax crunch time.
File for an Automatic Extension:
Feeling the time crunch? No worries! You can buy yourself some extra time by requesting an automatic six-month extension. Just fill out Form 4868, and you’ll have until October 15, 2024, to get your tax return sorted. Remember, this extension is for filing your return, not for paying any taxes due. Interest will still accrue on any outstanding balance.
For U.S Citizens living abroad or Resident Aliens:
If you’re living outside the U.S. and Puerto Rico, you’re eligible for an automatic 2-month extension. This means your new deadline would be June 15, 2024, for calendar-year taxpayers. Keep in mind, interest will still apply to any unpaid taxes after today’s original deadline.
Pay What You Can, When You Can:
If you can’t pay the full amount, that’s okay. The IRS offers various payment options, including short-term payment plans and installment agreements. Just make sure to pay as much as you can by today’s deadline to minimize penalties and interest.
Double-Check Your Work:
Before hitting that submit button, take a moment to review your return. According to the IRS, common errors like incorrect Social Security numbers or math mistakes can delay your refund. A little extra attention now can save you a lot of hassle later.
Consider Professional Help:
Tax rules can be complex, and it’s easy to overlook deductions or credits you might qualify for. Did you know that the Earned Income Tax Credit (EITC) is often overlooked but could save eligible taxpayers thousands of dollars? If you’re feeling overwhelmed, consider reaching out to a tax professional for guidance.
How Fusion Consulting Group Can Ease Your Tax Season Stress
Here at Fusion Consulting Group, we understand the ins and outs of U.S. tax laws. Our team of qualified professionals is here to offer the support and expertise you need to tackle your U.S. tax returns with confidence.
We provide a range of services, from tax preparation and planning to IRS issue resolution and audit support. Plus, we stay up-to-date on the latest tax laws and changes so you don’t have to.
Reach out to us today to speak with one of our experts, and make 2024’s tax year a breeze.
