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Don't wait: Your deadline to file taxes is Monday, April 18

tax deadline
Posted at 9:47 AM, Apr 15, 2022
and last updated 2022-04-15 09:47:17-04

This year, the tax filing deadline is back to its regularly scheduled date – Monday, April 18.

The IRS had extended the tax filing deadline for the past two years due to the COVID-19 pandemic.

But as things settle, taxpayers will need to send in their tax returns by Monday at midnight.

Those who need more time can still file an extension. This will allow taxpayers to file until October 17.

People will need to file Form 4868. It is a one-page form that asks for basic information, including name, address and Social Security number. An ITIN is not required to file for an extension, but it is necessary to file taxes.

Those requesting an extension will also need to estimate how much they may owe.

If taxpayers don’t request an extension by April 18, they could face a “failure to file” penalty. The penalty rate is 5% of unpaid taxes for each month that taxes are unfiled.

Numbers from the IRS show that many U.S. taxpayers are already behind on filing their taxes.

91 million people have filed their returns as of April 1.

That’s down from the 93 million who had filed by this time last year.

This year’s average refund is expected to be more than $3,200.