Good news and bad for tax filing procrastinators

Tax Deadline April 17th

Tax Deadline April 17th

April 15 falls on Sunday this year and Monday is Emancipation Day, a holiday in Washington D.C. That gives taxpayers nationwide until April 17 to get the job done.

Thanks to the calendar and a law that prohibits tax deadlines from being on holidays, you have two extra days to file.

For those of you who still need to turns yours in, experts with Quality Tax Service share a few last-minute tips.

"There's no reason for you not to prepare or have your tax return prepared for 2014 so that you can get your refund", Helen Fuller, a tax preparer with Liberty Tax, said. For more information, visit http://www.irs.gov/Individuals/Free-Tax-Return-Preparation-for-You-by-Volunteers.

You can submit the form electronically through the IRS website before midnight on April 17.

Telephone calls to the IRS may have long wait times.

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They were scheduled to appear at 2:30 p.m. on Friday before U.S. Magistrate Judge Michael A. Hammer in Newark federal court. Mark Jaeger, director of tax development at TaxAct, said that some taxpayers are shareholders or partners in a business and are still waiting to receive their Schedule K-1 form.

An extension, however, serves to delay only any refund you have coming.

Both the Rockingham County Sheriff's office and the Staunton Police Department said they have received complaints from people who are getting scam calls. You can do much smarter things with that money, like putting it into a retirement plan or a college savings fund or maybe paying down outstanding debt or replenishing your emergency reserve fund.

Instead, carefully gather and enter your Social Security number, income information and banking information, if needed. If you're married filing jointly and your adjusted gross income is less than $150,000, just make sure that this year's withholdings plus payments equal the same as last year.

Unbeknownst to most folks, specific items, if found in your return, may trigger an audit.

Anyone who held Bitcoin at the beginning of 2017 would be roughly 8 times richer today, and almost 20 times richer at the end of the year. A tax refund probably won't fully fill an emergency fund unless some savings have already been put aside, but a tax refund is a great way to get started toward this important financial stepping stone. After doing so, you may want to adjust your W-4 at work.

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