The aftermath of a bombing in Manchester, England.
Mad dash on tax deadline day
Monday will be very busy for some people who waited until the last minute to file their taxes. It’s often a mad dash to gather all the appropriate documents and fill in the blanks.
Mennenga Tax and Financial owner Marshall Mennenga says procrastinators generally make the same mistakes.
“Haste makes waste, and people that procrastinate and wait until the last minute to file their tax returns, we see it over and over, they don’t take all their deductions they’re entitled to,” Mennenga said. “They don’t have time to get together what they should be putting together.”
Mennenga advises procrastinators to take the time to fill out their long-forms rather than using the 1040-EZ because you could wind up paying quite a bit less or getting a bigger refund. There is another last-resort option: file for an extension. But if you choose that route, you may want to consider paying what you think you will owe or you run the risk of having to pay a penalty.