Tax Day: What you need to know

The IRS said it’s distributed more than $206 billion in refunds through March 29. That’s down from $212.3 billion last year.

The last day to turn in your tax return for 2018 is April 15. You can file an extension for your taxes by filing Form 4868 with the IRS online or by mail. This must be done by the tax filing due date, typically April 15. Filing an extension for your taxes gives you an additional six months to prepare your return no matter the reason you need the extra time.

Q:Why People Submit Tax Extensions
If you forgot about your taxes, this gives you a little leeway. Life gets busy, and finances can be complicated.Taking more time on your return may help you avoid mistakes and minimize your tax liability. It is important to note that this is an extension to file, not an extension to pay any taxes due.

Q:Did You Know You Can Have An Extra 6 Months?
Federal income tax extensions are good for six months. With the 2018 tax year deadline being April 15th, 2019, that means you have until October 18th, 2019 to complete the task.

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