Crypto Taxes - As April 17th closes in Credit Karma, the highly used Tax platform in the U.S., announced that less than 100 people have reported capital gains from cryptocurrency investments in 2017.
Filing a tax extension is free.
Taxpayers will have until this coming Tuesday, April 17, to file their 2017 tax returns and pay any tax due because April 15 falls on a Sunday this year, and Emancipation Day - a holiday observed in the District of Columbia - falls on Monday, April 16. But you can do yourself a huge favor by aiming to get everything done at least a day or two in advance, Greene-Lewis said.
ID theft is another one to look out for Scammers use stolen personal information, social security numbers and falsified W-2 information to file fraudulent tax returns in the victim's name. Freelancers or other gig-economy workers still waiting on a 1099 could be in the same boat.
Per the IRS, there are more than 90,000 volunteers around the country, who can help you correctly complete your return. Many will hastily get their QuickBooks file updated, appropriate documents compiled and a meeting with their accountant scheduled to ensure nothing delays getting this important task done.
"The IRS will work with you", he said. They claim to the the IRS and looking for money. So even if you owe more than you can pay right now, file your return and contact the IRS to set up a payment plan. However, they're more than happy to hang on to the money they owe you if you don't. The first payment for tax year 2018 is due April 17. Go back and look at what you paid in taxes previous year, including both withholdings and any payments you made (including estimated quarterly payments as well as payments you made last April).