BECKLEY, WV (WOAY) – Tax Day is just hours away, but you can still file, pay or request a (six-month) extension.
You must do so by April 15. It’s only an extension to file your return, not to pay.
Beckley’s TR Tax helps you determine what you need to pay to eliminate penalties. If you overpay, you will receive a refund.
According to Tax Accountant Tony Martin, you’re a perfect candidate for an extension if you need more time to gather your documents.
“If your taxes are pretty much ready to go, just owe a balance — the best thing you could do is file that return, pay as much as you possibly can even if you can’t pay your full balance — then work out an installment agreement with the IRS to pay the remaining,” Martin said.
When money is a challenge, MyFreeTaxes by United Way (https://myfreetaxes.com) offers a free online tax preparation service for those who earn $84,000 or less.
Trena Decal says she has not yet submitted her taxes and plans to file an extension.
“We try to do what we’re supposed to do, pay the appropriate amount and not get anything back or not have to pay anything,” said the executive director of United Way of Southern West Virginia. “We hope to break even.”
As long as you take steps by the tax deadline, you’re eliminating a failure-to-file penalty.
“But the failure to pay penalty will still be there,” Martin said. “What the government wants us to do along with our extension is mail in what we think we may owe and do that by looking at what we may have owed last year.”
Many were out and about on this Tax Day Eve to mail out their 2024 taxes.
“You’re not procrastinating unless you do it tomorrow, I guess,” said Beckley resident Jim Sheatsley. “This is the first time in probably 20 years I didn’t file an extension, so I’m ahead of my normal status.”
