Today’s the deadline for paying taxes if anything is owed to the government. If you’re still working on your paperwork, you’ll need to file an extension by the end of the day today. Here is what H&R Block says you need to consider when contemplating filing an extension:
* Notify the IRS. It’s Form 4868. Once you do, you’ll have an extra six months to finish the paperwork.
* File later, pay now. Estimate what you owe and send that money today.
* Use your credit card. Since the IRS accepts credit cards, you can use one to take advantage of any cash back offers your card provides. If you can’t pay the balance off when you receive your credit card statement, this is not a good idea. Don’t pay interest on your tax bill if you can help it. There is another option:
* File if you can, even if you can’t pay. The IRS would be happy to set up an installment plan if you can’t pay your full tax bill today.
H&R Block has been offering free advice online to coincide with National Tax Advice Day.
Updated July 16, 2010 and originally published April 17, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.