The Brian Lehrer Show Procrastinators Guide to Tax Filing
Apr 14, 2025
Andy Phillips, vice president of the Tax Institute at H&R Block, shares invaluable tax filing insights just before the April 15th deadline. He emphasizes the importance of timely submissions to avoid penalties and guides listeners on when to seek professional help. The discussion includes solutions for missing W-2 forms and the significance of filing even without obligations. Additionally, Andy addresses IRA contribution deadlines and tips for assessing the reliability of tax auditors, making tax season much less daunting!
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File and Pay Taxes by April 15
- File your federal and New York state tax returns by April 15th to avoid penalties and interest.
- If you owe taxes, pay the amount due by tomorrow, even if you file for an extension, since extensions are for filing only, not payment.
File On Time, Pay Later If Needed
- Always file your tax return on time, even if you cannot pay the amount owed right away.
- The penalty for failing to file is up to 10 times greater than the penalty for failing to pay.
Use Pros for Complex Taxes
- Choose professional tax help if your situation is complex, like owning a business or after major life changes.
- DIY filing is okay if you're confident and have simpler needs, but check filing status changes and income-driven plans carefully.