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Tax Countdown – Deadline Is April 15

By Diana Batchelor

Remember, there is no extra day this year for the “holiday” celebrated in D.C.: tax returns are due on April 15. You may think that you do not have to file a tax return, or file it on time, because of your particular situation.

  • You must submit a tax return, even when the following situations apply:
  • You are due a refund. (Even those receiving a refund must file their tax return by April 15.)
  • You are only filing an informational return, you don’t owe any tax, or you are not due a refund.
  • You only receive Social Security benefits. (You must still file an informational tax return.)
  • You are a dependent of someone else who is filing a tax return, but you have income.
  • You are a minor under the age of 18 and you have income.

When in doubt, ask a tax professional to be sure. There is a penalty for not filing if you are required to file. There is also a penalty for filing and failing to pay any tax that is owed. Note: When you file for an extension, it is only an extension to file your tax return. The amount of tax you owe is still due by April 15!

 

 

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