Tax Day for most Americans this year is April 18.
However, you might have more options than you realize.
You might qualify for a payment plan or even an extension.
Considerpreparing your taxesboth ways – jointly and separately – to see which scenario gives you the biggest tax breaks.
Myth 4: Making mistakes on your return will destroy your credit
Filing your taxes is important.
Yourcredit scoreis also important.
But a mistake on your tax return isn’t going to demolish your credit rating.
Credit score calculations are separate andtax liens are excluded from your credit report.
Falling behind on those payments could cause your credit score to drop.
But for the most part, you’re still required to pay the IRS by April 18, 2022.
If you don’t, you might face penalties, late fees and interest charges until you do.
If you don’t need the extra time to file, you should complete your return by Tax Day.
But if you’re missing key documents to complete your return, you cancomplete a file extension form.
If you do get an extension to file, you have until Oct. 15 to complete your return.
Even if you checked your withholdings last year, you may want to give them a look again.
There’s a chance you’re paying too little to the government.
Income from your freelance gig can both help and hurt your taxes.
Self-employed people can deduct some of their home or vehicle expenses if they’re used for business.
