Wednesday, September 26, 2018

Six Tips for Those Who Received Extensions to File Personal Income Tax Returns

The New York State Department of Taxation and Finance today reminded New Yorkers who obtained a six-month filing extension that returns must be filed on or before Monday, October 15.

The Tax Department expects nearly 500,000 returns to be filed ahead of the extension deadline. Once the returns are systematically reviewed and finalized, the Tax Department will have processed a total of more than 11.5 million personal income tax returns this year.

Tip #1. Don’t procrastinate. File early.

“Don’t put this off until the last minute,” said Acting Commissioner Nonie Manion. “Filing in a rush can lead to errors that will delay any refund you may be owed.”

Tip #2. File electronically.

E-filing is safe and more efficient than sending paper returns through the mail. About 92% of all New York State personal income tax returns are electronically prepared and filed. All returns, whether filed electronically or on paper, undergo the same systematic review.

Tip #3. File for free.

Taxpayers with adjusted gross household incomes of $66,000 or less in 2017 may access free, user-friendly software from their computer, smartphone, or tablet at www.tax.ny.gov (search: freefile2017). The tax preparation software helps reduce filing errors that can delay return processing and refunds. It also prevents valuable credits from being overlooked.

Tip #4. Use direct deposit.

Receive any refund due up to a week faster by having it directly deposited into your bank account. Be sure to double check the routing and account numbers for your account.

Tip # 5. File on time.

To avoid penalties and interest, file on time. The penalties are much higher for late filing than for late payment.

Tip #6. Check your refund online.

If you’re eager to find out the status of your claim for an income tax refund, use the Check your Refund app on our website: www.tax.ny.gov. It’s the fastest and most convenient way to know when to expect your refund. You’ll need to enter the refund amount you're claiming, your Social Security number, and which form you filed.

Source: The New York State Department of Taxation and Finance

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