DENVER -- The deadline for filing 2017 federal taxes has been extended to Tuesday.
This year, tax day fell on a Sunday, followed by a Monday holiday in Washington, so the IRS moved the date to Tuesday.
The extra 48 hours is welcome news for anyone who hasn’t filed their taxes yet.
“People tend to put things off that they don’t necessarily enjoy doing,” H&R Block tax adviser Gerald Spivey said.
He said that on Saturday, his office stayed open until midnight helping the last-minute filers get their returns done. He expects the same thing Sunday, Monday and Tuesday.
“We’re going to stay open as late as necessary. Some offices may even be open 24/7,” he said.
If you still have not filed your taxes, Spivey suggests getting organized really quickly.
“There is not a lot of time to go back and try to find stuff, so I’d say spend as much time and make sure you’ve got everything you need,” he said.
He said most people forget W2’s from smaller jobs and receipts for property taxes, mortgage interest and private mortgage insurance.
“The other thing that people here in Colorado can do is a personal property tax. That’s on the back of the car registration,” Spivey said. “Almost everybody forgets about that.”
He said the tax professionals in his office would much rather sift through boxes of paperwork than have a customer not bring in all of the documents and forms needed to completely file taxes.
What happens if you absolutely cannot meet the deadline to file your taxes before April 17? That answer depends on your tax situation.
If you are receiving a refund from the federal government, there is no penalty for missing the deadline.
You have up to three years to file your return and get your refund. That means if you are getting money back, April 17 is only the final deadline for 2014 returns.
“The IRS has estimated there are over a million people in 2014 who did not file a tax return and there is like $1.1 billion that is left on the table that people have not claimed,” Spivey said.
It is more concerning if you owe money this tax season, as missing the deadline will cost you in penalties and interest.
“You can always do an extension,” Spivey said.
Everyone is eligible to file for an extension. However, it must be submitted before midnight on Tuesday. And, you still have to pay by that time.
“It’s an extension to file the return but not to not pay the return. You still have to pay up to 90 percent of whatever your estimated taxes are in order to avoid penalties,” Spivey said.