Tax Day laggards: Consider filing for extension if in a rush
completed an income tax return by the end of the year. That probably leaves nearly 40 percent of this year's taxpayers still unaccounted for, with many scrambling to submit their documents by Monday.Nina Tross at the National Society of Tax Professionals says if people haven’t filed their taxes by now, “they're better off filing an extension.”
But, she added,"People don't realize that filing an extension has zero effect” as long as they have paid their income taxes by Tax Day. “An extension is merely filing a return at a later date," Tross said. “If you rush through a return to get it out the door, and you have to amend it later, you're more likely to get a double look from the IRS."The IRS this year is facing its biggest backlog in history. At the end of the 2021 filing season, the agency had
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