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Last Minute Tax Advice

Monday, April 15, 2013 - 11:59 AM

The clock is ticking towards the tax deadline today, but if you waited to the last minute you can still get everything you need done.  Bob Sielschott of Sielschott, Walsh, Keifer & Regula CPA's says if you're going to be pushing it, it's a good idea to file for an extension.  The catch is that you still have to make an estimate payment today if you think you will owe money... (Audio Below)

For instance, if you paid $1,000 last year, Sielschott says you estimated payment should be that plus a couple hundred dollars to make sure your payment isn't short of what you owe.

If you have a college student filing taxes, make sure they know if you are claiming them as a dependent before they file their last minute return... (Audio Below)

That means the return will be considered filed late and be subject to penalties.

One important reminder is that with the advent of e-filing, reduced demand for last minute services from area post offices means locations that once stayed open until midnight will only be open regular hours.  The last pick up in most cases is 5 p.m.

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