Tax filing deadline is Monday

Tax deadline is Monday

MEMPHIS, TN (WMC) - Time is running out.

The deadline to file federal taxes is at 11:59 p.m. on Monday.

Turbo Tax says almost one in four people wait until the very end to file.

“We have observed over the last five years a trend toward people filing later and this year it’s particularly pronounced,” said David Williams with Intuit Tax and Financial.

Aside from procrastination, there's another reason.

"The biggest question we get is 'How will tax reform affect me?'" said Williams.

Filers with complicated returns, may need the help of a professional.

The United Way of the Mid-South has volunteers ready to offer free help.

To find a location nearest you, call 211.

There is another reason to get help.

According to a study in Tax Notes magazine, people in the Mid-South are more likely to be audited by the IRS, especially in poor, rural areas like Tunica County, Mississippi.

The study said a higher percentage of people in those area claim the Earned Income Tax Credit, a benefit to help working people with low to moderate incomes, and the IRS wants to make sure those claims are correct.

As for getting that tax refund, direct deposit is the quickest way.

"The IRS will pay 9 out of 10 refunds in under 21 days," said Williams.

IRS filings show tax refunds are down this year, mainly from the government withholding a little less from people's paychecks throughout the year.

If you are not able to make the deadline, you can file an extension. But experts say keep in mind, that’s only an extension to file taxes, not an extension to pay.

For more information, visit IRS.gov

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