It's a busy, busy time of year for tax accountants, like Janee Grinnell from H&R Block in Iron Mountain. With the April 15 tax return deadline fast approaching, some procrastinators may be scrambling to get them filed, but you may actually be playing it safer to simply file for an extension.
â??It gives you until October 15 to file your tax returns, so it's a 6-month extension,â?? said Grinnell.
The extension form can be found on the IRS website, and you won't owe a late-payment penalty during this time if at least 90 percent of your 2013 tax liability is paid before the regular due date.
â??We also have drop-off services if you don't think you have time to file right now,â?? Grinnell said.
It can all be very confusing, which is why there's always people to help out. At the Dickinson -Iron Community Services agency, they offer free tax filing assistance to low-income families and seniors.
â??We go from January 1 until September 30,â?? said DICSA accountant, Heather Lieburn.
They say many fine print items can get overlooked if you don't seek help.
â??Especially for our clients, renters don't understand that they can get a homestead property tax credit and this is a refundable credit meaning that they don't have to be paying in taxes,â??Lieburn said. â??If you're on Social Security or disability, you can still get this credit and it's a refund in cash in your pocket.â??
Both DICSA and H&R Block do free second looks.
â??I just had a client who asked me to go through her 2010 to make sure that she got her Homestead Property Tax Credit,â?? Lieburn said.
Another helpful tip: file your return even if you can't pay the tax you owe. There are various payment plans available, but at least if you file, you won't be charged a late-filing penalty.