Salisbury CPA gives tips, as the tax filing deadline approaches
SALISBURY, Md. – Accountants are crunching away during crunch time, as tax filing season comes to an end April 15th.
And to get your hands on a maximum refund, 47 ABC spoke to MB Advisors in Salisbury to get advice on what to do, if you’ve waited to file.
CPA Cadence Crone says they’ve seen a late rush this year– and she believes it’s because of that new tax law. “Definitely do it on time especially this year because it’s changed so much so, even if you got a refund or always had an amount due it’s hard to say this year what you’ll have,” Crone says.
Because the standard deduction has doubled, most people haven’t been itemizing. “85% of people are not itemizing so if you think, oh I can’t find my taxes because I don’t have my personal contributions all together I would say don’t worry about it as much as prior years because you might not need it anyway,” Crone states.
As we’re just a few days before the deadline, Crone tells 47 ABC right now it’s extension time. “File that extension if you haven’t gotten all your stuff together, you want to pay an estimate of your tax due with that extension because the extension is an extension to file not to pay.”
So instead of losing money, make sure you make it on time and request that extension by Monday or you can see an interest rate.
If you don’t file an extension and want to file your taxes, don’t wait until 11:59 on Monday.
Crone tells us, “I know that certain sites have not done so well on Monday at the afternoon of the deadline day so I wouldn’t count on it being super available to you.”
Also, if you filed a personal return and missed an income or expense, you can file an amended return.