Click here for Mobile Site: http://m.cbs4denver.com
  • Font Size    
Advertising
E-mail

Close Window E-mail This Page

Last-Minute Filing Tips For Taxpayers

Required fields are marked with an asterisk(*)

The information you provide will be used only to send the requested e-mail and will not be used to send any other e-mail communications. Read more in our Privacy Policy

Send E-mail

   Print     Share +    Comments
Apr 13, 2009 10:48 am US/Mountain

Last-Minute Filing Tips For Taxpayers

LOS ANGELES (CBS) ― With the tax return deadline looming, some taxpayers may be considering filing for an extension.

Every taxpayer has the option of filing for an extension by using Form 4868. The extension will give them until October to complete a tax return, CBS station KCBS-TV reported. This is not an extension to pay.

Anyone who is not sure about possible deductions they may have missed for medical expenses, credits for buying a home, deductions for losses on stocks, income real estate or other fees paid through the year should consider filing for an extension.

Funding an IRA account or opening a new one can reduce a taxpayer's liability and must be done by April 15 in order to count. Taxpayers' can put as much as five-thousand dollars in an IRA and those over 50 can put up to six-thousand dollars.

Common Overlooked Deductions include:

1. Medical and dental deductions – anything over 7.5 % of the adjusted gross income can be significant for those who lost their income last year.
2. Credit for buying a home or condo.
3. IRA, traditional or Roth contributions done by April 15. 


(© MMX, CBS Broadcasting Inc. All Rights Reserved.)

Curious & Controversial News

Add Comment

here. here. Need a log in? Register here
  •  * Will not be displayed with comment
  •  * e.g. (http://www.mywebsite.com)
  •  
  • Click here to refresh with new letters

Show Comments (0)

Close Window Login


Close Window Flag Comment


loading...
You need the latest Flash player to view video content.
Click here to download.

Click here to bypass this detection if you already have the latest Flash Player.

About The World

Top News Stories

© MMX, CBS Television Stations Inc. All Rights Reserved.