Still Need to File Your Taxes? Last-minute Tips from the Illinois CPA Society

CHICAGO, April 2, 2019 – As millions of last-minute tax filers play beat the clock to get everything done by April 15, mistakes can easily happen when rushing to organize paperwork and crunch numbers. To help avoid problems after filing your tax return, the Illinois CPA Society recommends you double check the following:

  • Misspelled or changed names – Sometimes the easiest portions of a tax return can create the biggest hang-ups with a misspelled name or a changed name that’s not correctly listed.
  • Wrong Social Security numbers – An incorrect 9-digit Social Security number or forgetting to list numbers for you or your dependents can create unexpected problems. Social Security numbers serve as individual tax ID numbers and must be included.
  • Correct direct deposit information – Having your refund direct deposited into one or multiple bank accounts is very convenient, but make sure your account numbers are correct on your return, especially if you’re listing multiple accounts.
  • Changes in your filing status – If you were married, divorced or your household situation changed, it may need to be reflected in your official filing status. But if you’re unsure of your filing status, a tax professional can help you determine the correct and most beneficial status for your particular situation.
  • Math errors – Miscalculated numbers can throw off your final return. It’s always good to double check for potential math mistakes.
  • Signing and dating your return – After all that hard work preparing your tax returns, they can’t be filed until you’ve signed and dated the bottom line.
  • 2018 tax filing deadline day – All returns are due by midnight on Monday, April 15.

Still need more time?

If you simply can’t get your taxes filed by April 15, you can get an extension – but that doesn’t buy you more time to pay up if you owe the IRS. Taxpayers who need more time may file Form 4868 for a six-month filing extension. There’s no reason needed to file an extension, but the extra six months only provides for added time to file paperwork. Any taxes owed must still be paid by the regular April 15 deadline or interest and potential penalties may be charged on the amount due.

 

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Derrick Lilly
Asst. Director Communications & Publications | 312.517.7614