Watch out for tax scams ahead of April deadline

Scam targets tax preparers, tricks clients with fake returns

Scam targets tax preparers, tricks clients with fake returns

Good news, you don't have to file by April 15 to be on time.

Then there's "tax relief scams": Watch for deceptive advertisements claiming to reduce a person's tax liability greatly.

For those of you scrambling to complete your taxes last-minute, here's a bit of a reprieve: Taxes aren't due until Tuesday, April 17.

The recent tax law changes in 2018 have also changed the tax withholding tables, so taxpayers should use this IRS-provided calculator to get a better estimate of how much tax should be withheld to reduce their yearly refund and increase their paychecks.

I'd be curious to see if more taxpayers applied for an extension or had to use a firm to do their taxes because they weren't able to figure out their gains and losses in their cryptocurrency investments.

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With the IRS budget getting cut by about eight percent in 2017, and more than 7,000 auditing positions tossed, it looks like even fewer tax payers will face an audit this year. If you're working in the gig economy or as a freelancer, you're allowed to take advantage of business expense deductions that you may not be eligible for as a W-2 employee, such as start-up costs, computers, auto expenses and so on, according to Greene-Lewis.

After refunds leave the IRS, it takes additional time for them to be processed and for financial institutions to accept and deposit the refunds to bank accounts and products. Check your state tax department's website: While some states will automatically apply your federal extension, others require you to submit a separate state extension form.

Tax experts say you should not avoid filing your taxes is because you don't have the money to pay. As of April 6, just more than 103 million had been filed.

Taxes are due on Tuesday. However, they're more than happy to hang on to the money they owe you if you don't. Go back and look at what you paid in taxes past year, including both withholdings and any payments you made (including estimated quarterly payments as well as payments you made last April).

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