Taxpayers that used the tax filing extension this tax season are required to file and pay their taxes by October 15, 2014, which is tomorrow. After the extension deadline, the IRS will consider unpaid taxes as back taxes.
Taxpayers are advised to file their returns using the IRS e-file or free file system. The IRS allows taxpayers to use the free electronic tax filing through October 15. This allows those who applied for an extension to easily file their returns. E-filing is the most convenient, safest and fastest method for filing tax returns. No matter what method is used for filing, taxpayers must ensure that their returns are free from errors.
According to the IRS, more than a quarter of the nearly 13 million taxpayers requested a six-month extension in 2014. Many Americans have already got their returns in under the deadline. Anyone who hasn’t filed as of midnight on October 15th, any taxes due will be treated as a tax debt.
In order to receive a tax refund faster, taxpayers can choose the direct deposit option. They may include from one to three accounts to have their refund deposited in.
Any American serving in a combat zone has more time to pay in addition to the automatic six-month filing extension. They can file their returns and pay their back taxes up to 180 days after they leave a combat zone.