The overall point that the IRS has been trying to express to taxpayers is that the October 15th filing deadline will remain in effect for taxpayers who have requested an extension on their taxes. More than 12 million individual American taxpayers who requested an automatic six-month extension earlier this year before the normal April 15th deadline have yet to file their Form 1040 for 2012. By failing to file by October 15, 2013 they could be risking fines and hefty penalties that will be assessed by the IRS. Therefore, it is heavily recommended that all taxpayers make an attempt to file by this Tuesday.
Government Shutdown will not Effect E-file on October 15
The IRS wants all taxpayers to choose the speed and convenience of electronic filing. This option is available through most commercial tax preparation software packages such as TurboTax. IRS e-file is fast, accurate and secure. This will allow eligible taxpayers to get their refund as soon as possible without risking any further delay
Paying Taxes Owed on a Credit Card
Taxpayers can e-pay what the taxes that they owe by several easy options. The can either use online or phone, through the Electronic Federal Tax Payment System (EFTPS) and also by electronic funds withdrawal or with a credit or debit card. The IRS does not charge any fees for this services but the private banks may have associated fees by using these options. Any costs incurred to file taxes is also available for a deduction on next year’s tax return by certain types of taxpayers.
Again, it is paramount to stress that all taxpayers must be sure to file their return by Oct. 15. even if they are unable to pay the full amount taxes due to the IRS. By filing taxes before the October 15 deadline, the late-filing penalty, normally five percent per month, will not be applied to their return. Further, they can avoid the imposition of interest, currently at the rate of 3 percent per year compounded daily, and late-payment penalties, 0.5 percent per month.
Government Shut Down and Filing Taxes
Therefore, even though the government is shut down and many IRS employees are not working during the shutdown, taxpayers must comply with their legal obligation to pay taxes. When the government shut down is over, IRS activities will go back to normal and taxpayers will be able to have their questions answered. But for now, the government shut down is no reason to avoid filing by October 15.