Tax deadline is Tuesday
April 16, 2018 11:42 PM
"Taxes are just settling up with Uncle Sam at the end of the year," Marc Agel of PKS Advisory Services, LLC said.
And just like your family- Uncle Sam doesn't appreciate it when you're late to the dinner table.
Those who have waited until the last minute to file are warned that's when mistakes can be made.
State Department of Taxation and Finance Acting Commissioner, Nonie Manion says those kinds of errors could result in "delays in any refund due."
"You don't want to make an interest free loan to the government and you also don't want to under withhold to the point where they say you're really bad at withholding, give you a slap on the wrist and now you're forced at estimated payments the following year. Neither are good options," Agel said.
Meaning, use your tax return as a learning experience and always be on the look out for thieves posing as the IRS who pressure you into sending them money.
"So, certainly if you get a call that you feel suspicious just say ok, I'll reach back to you, hang up and dial the IRS directly. Because odds are, unfortunately, there's a lot of scams out there and if they're trying to pressure you into some sort of a garnishment or we can settle this through a wire transfer or money gram that's a pretty big red flag," Adel explained.
And looking ahead into next year's tax filing, be aware that changes at the federal level mean some local taxes and property tax deductions will now be capped at $10,000.
"We do live in a high SALT state, so a lot of people tried to pre-pay their property taxes to take advantage of that one last time."
You can still file your state and federal returns through the New York State Department of Taxation and Finance website for free or head to a drop-in site like the Wal-Mart in East Greenbush where Jackson Hewitt Tax Service will be on hand to help you file from 8am-12am.
Created: April 16, 2018 11:42 PM
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