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April 14, 2014

Tax filing deadline at midnight Tuesday

IRS expects expects more than 2 million Alabamians to file

— Today is one of the most famous days of the year. In fact, when people say “April 15,” there’s no doubt what they’re talking about.

While most of us have filed ­– including some 420,000 Alabamians this month - and aren’t worried about tonight’s midnight deadline, the Internal Revenue Service expects about 142,000 taxpayers to request an extension to file their returns. The IRS said it expects more than 2 million Alabamians to file this year.

The IRS offers an easy way, also, for those who seek an extension for an extra six months to file.

According to IRS spokesman Dan Boone, the Free File link at irs.gov will enable taxpayers to request an automatic extension in a matter of minutes. Filing the form (Form 4868) will give taxpayers until Oct. 15 to file, he said.

However, to file for an extension, doesn’t mean taxpayers don’t have to pay what they owe.

To get the extension, taxpayers must estimate their tax liability on the form and should pay any amount due.

Filing this form gives taxpayers until Oct. 15 to file a return. To get the extension, taxpayers must estimate their tax liability on this form and should also pay any amount due.

According to Boone, by properly filing this form, a taxpayer will avoid the late-filing penalty, normally five percent per month based on the unpaid balance, that applies to returns filed after the deadline.

Boone also said the IRS will work with taxpayers who owe money and seek the extension. He said the IRS can set up a payment plan and taxpayers can apply online at http://www.irs.gov to make payments.

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