As I'm sure you've heard Bostonians do not need to file taxes until Tuesday, April 17. While taxes are typically due on April 15, that date falls on a Sunday. Obviously, Monday would be the next logical choice. But this year Monday, April 16 is a Massachusetts state holiday, Patriots' Day. Or in other circles, Marathon Monday. (Since 1969, we've had three-day weekends during April's third week.) Monday, April 16, also happens to Emancipation Day, a holiday in Washington, D.C., and our IRS offices are also closed on Monday.
Tax season is upon us, which means many people are scrambling to collect their paperwork and prepare a tax return that will maximize their refund without triggering an IRS tax audit.
As many Massachusetts residents know, it can be easy to make a mistake on your tax forms. Not only are the forms difficult to comprehend, but the rules for tax deductions are changing frequently as well. However, one Florida woman received a letter from the IRS regarding her tax return that people in Massachusetts and elsewhere may find interesting.
For the majority of Americans, tax season brings about a sense of urgency and feelings of stress. Once your tax return is completed, however, it can often feel like a relief. That is, unless a mistake has occurred. Finding a mistake on a tax return may leave you wondering what to do and where to turn next. Through The Wall Street Journal, a Massachusetts expert offered some advice recently on how to avoid a serious situation that could lead to an audit, fines and even charges of tax evasion.