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-- we're gonna move right on tax day is fast approaching have you filed yet well if you haven't you should because you know most people they say get a refund but even if you're not in that category there are some strategies and joining us now is an expert on all of this John -- he is the founder and CEO.
Of liberty tax service thank you so much for being with us please forgive me.
I write to us so you don't mention that most people get a refund what percentage of people who end up earning money from not earning money getting back around my -- -- -- of the people who filed a report.
Yeah so people they shouldn't shouldn't be afraid to shoot I didn't do it but let's say you are in that category where you are going to -- money.
Can you file an extension but if but if you do don't you still have to pay how -- -- work.
-- -- -- a couple things to consider number one is you can still just cure all your taxes from last year by contributing enter IRA you can do that as late as April 17 you can file.
As late as April 17.
But if you -- money -- something that's very very important and that is.
That you must file your return even if you can't afford to pay you can comfort for an extension of paid.
To make payments but there's a 5% penalty per month for not filing your return it's only half percent.
For not paying the amount you're also it's ten times higher not to panic and what -- -- you're seeing is.
It also is that -- read a recent study that that over the last thirty years.
-- 6% more traffic fatalities on the last filing -- -- sure April 70.
They think it's related to stress of filing or trying to get their posts of some last minute so watch yourself on the road on April 17.
That is fascinating that's just it goes back decades thirty years so but meanwhile I'm surprised to hear that that many people are even rushing to the post office because it is much easier and even more economical.
To file electronically.
Yes electronic -- the one thing that that it does for sure is you get your ballot but the return is perceived to be sent through the mail you never know whether the -- -- -- receive it or not.
And also when you file electronically get your refund faster yeah it has typically has served taking three or four -- -- given in just seven attendance.
Right so what are the other tips that you have for folks who who -- and you can't pay you mentioned installments -- for sure file -- extension.
Four -- 9954.
The opportunity to.
Anybody installments you don't have to -- no one's even if you can't pay anything file your return of say 5% a month and penalties for the first five months 25% of your.
Of this the bills to.
So do you recommend that people.
-- you -- attacks -- -- -- but.
What people should file on their own verses -- using the software programs or -- going into an office and getting that personal assistants.
You know we have we have to Gaza franchisees and what we've told them we ask you them.
What percentage of people that do their return continue to get it right and they -- its traditions say less than 50%.
That is -- errors are mirrors of commissioners of -- mission people just don't know all the deductions are entitled to.
In it as a result that we -- have stressed referring so if you have any question if you've done your return you're concerned that it's wrong.
Just you think we'll check -- on the telephone.
You come into our office we've had a good -- because we just find so many errors where people have failed to take deductions are entitled to.
He they -- the software programs are designed to be conversational almost like one on one but I was -- big fan of one on one I wanna be able to talk to somebody and ask -- questions not ask.
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