Have you filed your taxes yet - Or do you wait until April 15th?

Answer 1

I am an IRS agent.

It depends.

First even if you don't owe or aren't due a refund you probably should file. Why. Because the statute of limitations on when we can audit you and or assess taxes starts 3 years from the date you file. If you commit fraud it can be 5 years.

I would not normally recommend that you just automatically extend your filing until October. There are 2 reasons why:
1. The statute starts running when filed. I have audited many Taxpayers who extended their filing dates and regretted it. If I audit them and find adjustments I can go back to prior years and make the same adjustments. If they file 6 months later it gives me a longer window to do the audit and hit their prior years.
2. It is also probably easier to get your return accepted as filed without audit when it is filed with the mass of returns on 4-15. Their are fewer returns filed later and there is more time for our staff at the service centers to review and grade the returns for unusual items.

Answer 2

I filed last week, and was surprised to find out that I would get a nice refund. We have filed in the first part of March for over 30 years.

Answer 3

Your chances of being audited are less if you get an extension until 10/31. But if you don't want an extension, file now if you think you will get a refund. File later if you think you owe. I am a CPA and about half of my clients file in October.

Answer 4

heres the question do you owe. if the answer is no then what are you waiting for do your taxes and get your money back

Answer 5

I was finished with them 3 weeks ago, I had meet the FAFSA deadline!

Answer 6

I don't care for taxes, I won't file...taxes suck..they are taking my money..ooohhh lala

Answer 7

Yes, I filed it already !!!