2010 income tax filing deadline is Monday

| April 14, 2011 | 0 Comments

Internal Revenue Service
News Release

Internal Revenue Service

Internal Revenue Service

WASHINGTON — The Internal Revenue Service reminds taxpayers that they have only a few days remaining until the April 18 deadline to do their 2010 taxes or to file an extension.

Taxpayers have an extra weekend to file this year because of a District of Columbia holiday. The deadline for 2011 is April 18, instead of today.

So far this year, the Schofield Barracks and Fort Shafter tax centers have processed more than 3,000 returns, generating more than $7 million in refunds and saving Soldiers, family members and retirees more than $600,000 in tax preparation fees. The Hawaii Army Tax Centers offer free tax preparation and e-filing to all Soldiers, family members and retirees.

The tax centers will be open through April 29.

The Schofield Barracks tax center is available on a walk-in basis from 7 a.m. to 4 p.m., Monday-Friday. The Fort Shafter tax center is open by appointment only, 9 a.m. to 3 p.m., Monday-Friday.

As of March 25, the IRS had received more than 82 million individual income tax returns, 58 percent of the 141 million returns expected this year. This number is about the same volume as last year, while the processing of returns is up 3 percent from last year.

Numerous economic recovery tax credits are still available, like the “Making Work Pay Credit,” which allows individuals to claim $400, or married couples to claim $800.

Usually, 20 to 25 percent of all taxpayers file in the final two weeks of the tax season, and about 7 percent of taxpayers seek a six-month extension to file.

IRS filing tips

•Gather information and prepare your return to avoid hasty and possibly costly errors.

•Many tax credits from the American Recovery and Reinvestment Act are available, such as an expanded American Opportunity Credit of up to $2,500 for tuition, books and fees.

•A larger energy credit, of up to $1,500, is available, as well as an expanded Earned Income Tax Credit for larger families of up to $5,666.

•The $8,000 first-time homebuyer credit is available for people who entered into a binding contract by April 30, 2010, and went to settlement by Sept. 30, 2010.

•Consider using “IRS Free File” to prepare and e-file your return at no charge. Software is available to taxpayers who earn $58,000 or less. Fillable forms have no income limitations. Get started at www.irs.gov/freefile.

•File electronically to get a faster refund; to have a secure, encrypted transmission; and to have a more accurate tax return. You can e-file through your tax preparer, commercial software or IRS Free File.

•If you cannot meet the April 18 deadline, file an extension, Form 4868, Application for Automatic Extension of Time, to file individual income tax returns. All taxpayers can use Free File to submit for an automatic six-month extension. Free File will be available through the Oct. 17 extension deadline for late filers.

•The six-month extension is to file a return only; it is not an extension to pay taxes due. If you are unable to pay your taxes, file a tax return anyway — to lessen the penalties — and pay all that you can. Then, work with the IRS to set up a payment plan. Visit IRS.gov and use the Online Payment Agreement Application.

Appointments

To schedule an appointment or for further information, call 655-1040. For helpful tax information and to check current wait times, search “Hawaii Army Tax” at www.facebook.com.

(Editor’s Note: Capt. Harry Parent, Hawaii Army Tax Centers, contributed to this article.) 

 

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