The April 18th income tax deadline has come and gone, but that doesn’t mean that everyone is finished dealing with their taxes. Many people, for a variety of reasons, might still have some loose ends from this past tax season that need to be tied up. Here are some of the more common ones, and how you might handle them.
Didn’t file a return
This year’s deadline to file and pay federal income taxes has passed for most people. If you are due a refund, there’s no penalty for filing late. However, if you owe and missed the deadline without requesting an extension, you should file quickly to limit penalties and interest.
Check refund status
You can check on your refund using the Where’s My Refund? tool. It is available on IRS.gov and the IRS2Go app. To use this tool, you will need your Social Security number or ITIN, tax filing status, and the exact amount of the refund claimed on your tax return. The tool updates once daily, so there’s no need to check more often.
You are encouraged to check your withholding using the Tax Withholding Estimator on the IRS website. This will help you make sure your employer is withholding the right amount of tax from your paycheck. Doing this now could help avoid an unexpected tax bill and possibly a penalty when you prepare and file your taxes next year.
You can use the results from the Estimator to help complete a new Form W-4 and adjust your income tax withholding with your employer. If you receive pension income, you can use the results to complete a Form W-4P and submit it to your payer.
Review payment options
If you owe taxes, you can review all payment options online. These include:
- Paying your taxes owed or making a partial payment through your Online Account or with IRS Direct Pay
- Paying by debit card, credit card or digital wallet
- Applying online for a payment plan
Errors on your tax return
After filing your tax return, you may find an error. Common errors taxpayers should fix are those made about filing status, income, deductions, and credits. You usually do not need to file an amended return to fix a math error or if you forgot to attach a form or schedule. Normally, the IRS will correct the math error and notify you by mail. Similarly, the agency will send a letter requesting any missing forms or schedules.
If you are expecting a refund, you should not file an amended return before your original return has been processed.
The IRS issues most refunds within 21 days if you filed electronically and chose direct deposit. However, some returns that have errors or need more review and may take longer to process.
This article carries no official authority, and its contents should not be acted upon without professional advice. For more information about this topic, please contact our office.