Haven’t Filed Your Taxes Yet? Here are Some Tips
While no substitute for the advice and assistance of a tax professional, The American Institute of Certified Public Accountants (AICPA) offers 10 Tips for Last Minute Tax Filers.
Remember, Failure to File and Failure to Pay penalties are 5% (each) of the amount of each due – if you wait five months, your total penalty could equal fully one-half of the tax due! And that doesn’t include interest. Even if you can’t get anything else done by April 17, the automatic extension could save you a lot!