Shannon Dies, president and CEO of Houston-based Tax Pro Services, said taxpayers should be aware of common mistakes and changes to the tax process before filing their taxes.
"Leaving out deductions [taxpayers] could've taken advantage of is a common mistake," Dies said. "It could reduce your tax bill or increase your refund."
Dies said changes in the filing process this year have also changed in order to prevent tax fraud attempts.
"We now have to verify ID's and get copies of ID," he said. "We also have to verify that there are children in a home and verify that there are dependents in a home."
Dies's main piece of advice to taxpayers who have not filed their taxes is that they should file an extension to avoid paying a pension and penalties. Dies said any taxpayer who receives a letter from the Internal Revenue Service should seek help immediately to get their issues resolved.
Here are a few last minute helpful tips in filing taxes this year, according to the IRS.
- Review tax returns carefully: Taxpayers who rush to beat the deadline may miss a tax benefit or make a mistake. Errors usually delay tax refunds and could cause the IRS to send out a letter.
- Validate e-signature: If a taxpayer changed tax software products for 2017, they may need their prior-year adjusted gross income to validate their electronic signature.
- Use IRS Free File: Taxpayers who made $64,000 or less can use free tax software to prepare their federal tax return.
- Request a time extension to file: People can request a six-month extension electronically through tax software, including FreeFile, by using Form 2868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return.
- File on time: Taxpayers who owe money but cannot pay in full by the April 18 due date should still file on time and pay as much as possible. This will reduce potential penalties and interest charges. For unpaid taxes, people may apply for an installment agreement to pay over time.
