Last-Minute Tax Filing Tips: Extensions, Deductions, and Avoiding Mistakes

Filing an Extension

• 📌 If you haven't filed your taxes yet, the first step is to file an extension to gain more time.
• ⚠️ Filing an extension extends your time to file, but not your time to pay.

Maximizing Last-Minute Deductions

• 💡 Consider contributing to an IRA before the April 15th deadline to potentially lower your tax liability.
• 💰 If eligible, a Health Savings Account (HSA) can also help reduce your tax burden.

Avoiding Common Filing Mistakes

• ⏳ Take your time and review your tax return carefully to avoid errors.
• 🔍 Ensure all taxable income is reported; comparing with your prior year's return can help.
• ✅ Double-check all information prepared by a tax professional, as you are ultimately responsible for accuracy.

Tax Filing This Year

• 📈 Currently, there are no major new changes or delays expected for tax refunds this year.
• ⚡ It's still advisable to file your tax return as soon as possible, especially if you anticipate a refund.