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Filing For Extensions | Tax Tip of the Week | No. 88

If you haven’t filed your tax return by now, you should probably consider filing for an extension. It is a lot easier to file for an extension than it is to amend a return later for a mistake you made trying to rush your return to completion. Even more costly is if the IRS finds a mistake you made and assesses underpayment penalties and interest.

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IRS Has $1.1 Billion for People Who Have Not Filed a 2007 Income Tax Return | Tax Tip of the Week | No. 86

Refunds totaling more than $1.1 billion may be waiting for nearly 1.1 million people who did not file a federal income tax return for 2007, the Internal Revenue Service announced recently. However, to collect the money, a return for 2007 must be filed with the IRS no later than Monday, April 18, 2011. For Ohio, the IRS estimates there are 33,200 unfiled returns with an average refund of $620.

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