April 18th is Tax Day. That’s the day all returns must be postmarked or e-filed to the IRS. If you haven’t started yet, you may be feeling a bit of panic as the deadline races up to meet you.
Still file your taxes the old-fashioned way? With the deadline fast approaching, you may want to consider switching to e-filing this year. The IRS e-file is available to all taxpayers, and many can file electronically at no cost.
When you e-file you can also have the option to have your tax refund direct deposited to your account. This is fast, secure way to receive your tax refund. Tyndall's routing number is found on our website. To find your account number (for direct deposit) log in to your Tyndall Online Banking.
Watch for scams during tax time. Before you hire someone to do your taxes, ask to see their preparer Tax Identification Number (TIN). If they refuse to share it, find a different preparer. Remember, if something sounds dubious, a quick call to the IRS will clarify things or contact them at www.irs.gov.
If you have too much to do and nothing prepared, you can file an extension. The IRS will, in most cases, approve an automatic six-month extension for individuals. Form 4868 will ask you to estimate your tax obligation, your total payments and the balance due. If you’re due a refund, you’ll receive your refund as soon as you file your return. If you owe additional taxes, the IRS’s tax withholding estimator can be a useful tool to help you estimate payments.
When you file an extension, you will be responsible for interest on the amount due, plus penalties. The IRS may excuse these penalties for exemptions such as people who were out of the country or deployed to a combat zone for a significant part of the year
Failure to pay taxes can result in jail time and stiff financial penalties. Make your tax payments securely, quickly, and easily using your Tyndall Visa Card. Using your Tyndall Debit or Rewards Credit Card will also allow you earn points from making your tax payment.
Prepared for informational purposes only, and is not intended to provide tax advice.