Last Minute Tax Stuff You Need To Know

Your taxes are due today, postmarked by midnight tonight.

Postage meter postmarks aren't acceptable.

It'sthe taxpayer's responsibility to use correct postage. IRS doesn't pay Postage Due.

Forms are available at Post Offices, many public libraries, and online at http://www.irs.gov/

Other Tax Stuff:

If you can't file today, you can file an extension (form 4868) which gets you until Oct 15 to file (though you'll still have to pay any taxes owed, and what you don't pay, you'll have to pay interest on). Hint: if you owe, pay, even if you delay filing. You can even get an installment payment plan from the IRS online.

What's the IRS looking for this year? The number of big corporations audited by the IRS has dropped in the past 20 years. Instead, more midsized and small firms are facing reviews.
It should also be noted that Congress has cut the IRS budget at the same time the agency has hired Higher-priced private contractors to collect tax debts. So what money is there doesn't go as far.

Common mistakes: not signing the return (that's the biggest), bad math (that's the second biggest), forgetting to include a check (if you owe money), and including enough postage. Last thing you want is to get your forms back with insufficient postage, and then get penalized for filing late.

If you owe, don't make your check out to the initials "IRS." That's because if the check falls into the wrong hands, they can change the "IRS" to "MRS" followed by someone's name. Instead you should write out the entire three words "Internal Revenue Service."

Don't have the money to pay what you owe? You can propose an installment plan by attaching Form 9465 to your return. The IRS will answer within 30 days. They'll also charge you 13% interest on past-due balances.

Maybe you're getting a refund? About 78 percent of us will, and usually, it's because we overpaid our taxes all year long. Ideally, you want to pay or be owed within a hundred bucks. To figure that out, you need to ask your employer to revise the tax withholding from your paycheck (the lovely W-4).

Waiting for a refund? You can call the IRS Teletax number to find out if it's ready and on its way, or if there's a problem. Call 800-829-4477.

Questions? There's an IRS taxpayer help line, open from 8 am to 5 pm. 800-829-1040. Keep in mind, though, that helpers don't always give correct info. A Congressional study last year found they were wrong 40 percent of the time, and if you follow their wrong instructions, it's not their fault, so double-check everything.

It's a good idea to photocopy all your tax forms and keep your own records. The IRS loses an average of 2-million documents a year.

For whatever reason, some people never get their refunds. They've moved or provided an incorrect address. The IRS has nearly $100 million in undelivered tax refund checks. Think you're due? Call 'em: 1-800-829-1040, or go to the "Where's My Refund?" section on the IRS home page at irs.gov.