Tax Day Reminder: Extensions Do Not Give Extra Time to Pay
But don’t worry, you have until midnight to do it!
H&R Block of Kingsley says this has been one of the more interesting tax seasons in recent memory.
Government shutdowns, withholding table changes and new tax reforms.
They say they’ve seen a lot of people coming in to file extensions and some who are quite surprised they owe money on their taxes for the first time.
“This year we’ve really seen a mix in the situation,” he says. “We’ve seen some people who have itemized in the past and now due to the new tax law changes are not itemizing anymore because the standard deduction is higher. We’re seeing some people that itemized that have a lot in property taxes and state withholdings that are being hurt this year that have balances due because that is now capped at ten-thousand dollars when you itemize.
H&R Block reminds people that just filing for an extension on your taxes is not an extension to pay if you do owe this year.