Published: Mon, April 16, 2018
Business | By Kate Woods

Watch out for tax scams ahead of April deadline

Watch out for tax scams ahead of April deadline

You're down to the wire for filing income tax and wish there was some extra time before tax day. Otherwise, they will not be picked up until the next day and will be considered late.

One of the biggest questions this tax season has been the impact that last year's cryptocurrency boom would have on filers across the U.S. Many will hastily get their QuickBooks file updated, appropriate documents compiled and a meeting with their accountant scheduled to ensure nothing delays getting this important task done.

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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.

If that's not detail enough for you, you can track when the IRS expects to direct deposit or mail yours by using the IRS' "Where's my refund?" tool, which is updated daily. Generating an accurate return may remain a top priority, but taking a moment to review it from the Internal Revenue Service's point of view before submitting could save you a significant headache down the road.

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The deadline to file your taxes is April 17. But you can do yourself a huge favor by aiming to get everything done at least a day or two in advance, Greene-Lewis said. As of April 6, just more than 103 million had been filed. Fundtrat's Tom Lee predicted earlier in the month that the cryptocurrency market took a dip earlier in the year due to investors needing money to pay the capital gains tax. So even if you owe more than you can pay right now, file your return and contact the IRS to set up a payment plan.

If you are unsure how much you owe in taxes, here's some math to figure out what to pay now. Shoring up savings accounts or creating an emergency fund with a tax refund can help Americans prepare for unexpected expenses or reach their other financial goals, such as putting a down payment on a home.

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