The IRS Urges Last-Minute Tax Filers to Prepare Ahead of April 15 Deadline

As the April 15 tax deadline approaches, the Internal Revenue Service (IRS) has issued a reminder to taxpayers, emphasizing the importance of filing returns on time or requesting an extension if necessary. The agency highlighted a variety of free tools available on IRS.gov to assist taxpayers, including their 'Let us help you' page, tax preparation tools, and access to filing information for both individuals and businesses. Despite the looming deadline, the agency has reported a drop in tax returns filed compared to the previous year. The IRS expects to receive more than 140 million individual tax returns, yet recent statistics indicate nearly 1 million fewer returns than at the same time last year. This decline may concern tax officials, particularly given the recent staffing and funding cuts initiated by the Department of Government Efficiency. For those needing to file, IRS Direct File remains a viable option, especially for qualifying taxpayers in 25 states, allowing them to electronically file their returns free of charge. The system is user-friendly, providing step-by-step guidance to minimize errors during preparation. Additionally, the IRS has extended the availability of Direct File until October 15 for those who request an extension. While the IRS encourages timely filing to avoid penalties, experts remind taxpayers that failure to file and failure to pay carry different penalties. Taxpayers are advised to pay as much as they can by the deadline to reduce associated penalties and interest. Additionally, the IRS has revamped its payment plans to facilitate easier access for taxpayers struggling to cover their balances, encouraging them to explore their options online. In summary, the IRS's push for timely filing comes with significant support resources for taxpayers, underscoring its commitment to assisting individuals in navigating their tax responsibilities amid pressing deadlines.