Procrastinators this year will have a few extra days since the tax filing deadline is April 17, but waiting till the last minute to file your taxes may not be the best approach.
According to a recent survey of 3,000 American taxpayers commissioned by H&R Block, more than half (57%) said the tax preparation process stressed them out. For many this led to sleepless nights, and for others it caused arguments with a significant other about taxes.
The penalty for not filing a tax return is 10 times greater than the penalty for not paying in full.
So what should taxpayers know to avoid possible penalties?
H&R Block’s Andrew Wagner shares additional survey results and tax tips for procrastinators.