E-File Started Two Weeks Late in 2013, But It Still Ends on October 15th
The IRS opened the 2013 filing season and began processing individual income tax returns on January 30th, about two weeks later than in past years.
But even though the season started late, it still ends on the usual date. The tax deadline is the usual date of April 15, 2013. By this date you must either have filed your tax return with the IRS or requested an extension.
But you may not know that e-file actually stays open for an extra six months, until October 15, 2013. You can e-file your 2012 return any time between now and then. If you want to file after April 15th you should really request an extension. But if you are due a refund, you won’t be charged any penalties for filing late.
After October 15th the IRS shuts down the e-file system to prepare for the 2014 tax season. If you still haven’t filed by then, you’ll have to paper file your return with the IRS. You can still prepare it online, but you’ll have to print it out, sign it, and mail it in to the IRS.
I highly recommend that you do your taxes in time to e-file. Last year 100 million people did it, the most ever. It’s greener, safer, faster, and easier than paper filing.
Oh, and did I mention that you can get your refund money in less than half the time? That’s right. When you e-file and request that the IRS direct deposit your refund directly into your bank account, you can have your money in under 21 days. If you have to paper file it could take 4-8 weeks.
Not only will e-filing before October 15th get you your refund faster, but it will also help you avoid penalties and interest. After October 15th your return is late, whether you requested an extension or not. That means that the failure-to-file penalty, the failure-to-pay penalty, and interest could kick in. So if you do end up requesting an extension, make sure you get that return in before October 15th.
Don’t procrastinate! E-filing your return will make your life so much easier. File today and put taxes out of your mind until next year.
Photo via Erwss, peace&love on Flickr.
Tags: tax filing deadlineThis entry was posted on Friday, October 19th, 2012 at 10:56 am and is filed under Tax Deadlines, Tax News.