Buck up, friend. It's true that tax season is winding down and soon it will be considerably harder to find articles on taxes. You won't be completely out in the cold, though. You can visit our Tax Center any time, 12 months a year, for lots of tax guidance and tax tips.
Meanwhile, though, as you're probably in the thick of tax matters right now, here are a few more tax tips for you (in addition to my previous tips):
- Extend early. If you won't be getting your return filed on time, then file for an extension. Note, though, that the extension delays your filing due date (for a full six months, until October 16th), but not your payment due date. In other words, your tax payments are still due by April 17. If your payments are submitted late, you'll owe interest, and perhaps a penalty, as well. For an extension, you'll need IRS Form 4868.
- If you can't pay right now, you have options. You can charge your bill on your credit card, though that may well make your financial situation even more precarious. You can also apply for an IRS installment agreement or payment plan. Learn more about it from the IRS website.
- The adoption of a child brings with it some possible tax credits -- offsetting up to nearly $11,000 of qualified expenses (such as traveling to pick up your child, and fees paid to an adoption agency). According to the IRS, if you've adopted a child with special needs, you may be entitled to the credit even without any expenses. Take a look at IRS Form 8839 for more on the adoption credit.
- If you're 65 or older or are on permanent and total disability, you may be eligible for a tax credit (depending on your income level). Learn more in IRS Publication 524, "Credit for the Elderly or the Disabled."
- If you or your spouse are in the military, you might be able to take advantage of free help preparing and filing your taxes. Learn more here. The IRS website has plenty of information on other tax breaks for members of the armed forces.
Longtime Fool contributor Selena Maranjian appreciates your feedback.