The end of tax season is quickly approaching. Thousands of clients have taken advantage of the free tax preparation through United Way. However, there remains a population who have not completed their taxes nor filed an extension. According to Internal Revenue Service officials, the percentage of Americans who file late or don’t file at all is substantial.
Beginning April 11 through April 18, United Way is sponsoring a Tax Blitz to promote filing extensions and making appointments for tax preparations before the October 2016 deadline.
Filing an extension is as simple as downloading the necessary forms from www.irs.gov, completing the appropriate sections and dropping it in the mail. Volunteers will also be available to help file extensions at United Way. Filing the extension will save the penalty if the taxes are filed by October 2016.
The penalty for filing late is normally 5% of the unpaid taxes for each month or part of a month that a tax return is late. That penalty starts accruing the day after the tax filing due date and will not exceed 25% of unpaid taxes.
Remember all tax forms are due April 18 and must be filed regardless of the filers ability to pay in full.
United Way of Central Alabama Inc. supports health and human service programs and agencies that provide solutions for the most important needs in the community. Its business is to improve lives and community conditions by building and mobilizing resources. To learn more about United Way’s impact in your community visit www.uca.org.