It's been one week since U.S. taxpayers were required to file and pay their taxes. For some taxpayers, the filing deadline passed without incident and they likely won't even think about their taxes until next March or April. Others, however, may be unable to shake the concerns and fears they have related to possible oversights and tax errors. For these taxpayers, the dreaded five-letter word audit is bound to linger in the back of their minds.
The 2016 tax filing deadline is finally upon us. Today, April 18 is the deadline by which U.S. taxpayers must file and pay their taxes for the 2015 calendar year. While the deadline is roughly the same each year, and shouldn't therefore be a surprise to anyone, some taxpayers may still not have all of their tax affairs in order.
The 2016 April 18 tax deadline is quickly approaching and, barring special circumstances, taxpayers are expected to both file and pay their taxes on time. While the Internal Revenue Service fully expects the vast majority of U.S. taxpayers to comply with the April 18 tax filing deadline, the agency isn't completely unforgiving when it comes to cutting taxpayers who find themselves in extenuating situations some slack.
The media has a penchant for giving scandals and controversies catchy, memorable tags.
While no one enjoys doing their taxes, to avoid costly penalties and fees, it pays to do them correct the first time. Despite what a taxpayer may think, the Internal Revenue Service has numerous resources at its disposal which helps the agency easily identify certain tax mistakes. Not only can mistakes made on a tax return result in a larger tax bill and the accrual of tax penalties, but it can also delay the processing of a tax return.