BANGOR- Yet another sign of spring as the tax deadline is heading our way.
Wednesday the 17th is the deadline for Mainers to have their taxes filed.
For those don’t know how to file their taxes, Bob Thomas, the owner of Thomas Tax and Financial Services, stated there are plenty of options to choose from.
“You can file as simple as going through your phone and filing on the phone. Or you can go on the internet and file it on the internet. But if you want it done so that you get every dime coming back to you, you should see a professional,” Thomas said.
According to the accountant, the statute of limitations is 7 years so if you’ve haven’t filed taxes in that period of time, there is a serious possibility the internal revenue service may send of their agents to find you.
“They know if you owe or not, if you neglect them over time, it’s called avoidance of taxes, you will go to jail. That’s the penalty,” Thomas said.
But what if you need more time? You’ll still have to file, but instead asking for an extension.
According to Thomas, filing for an extension can push the due date from Easter to Halloween.
“Now you can get an extension which will delay the penalty on filing but the statue for paying is still there. The clock starts April 15th so if you pay late you’re going to get penalties and interest,” Thomas said.
He says it is up to the IRS to prove your income but it is up to you to prove your expenses.
So it is better to file your own taxes instead of the IRS force filing them for you so you can potentially get the most returns.