ROCHESTER, Minn. - Many people still haven't filed because they don't feel safe going somewhere to file their taxes or they're simply procrastinating, but you're running out of time. The deadline is July 15th.
While it's not required, the IRS is strongly encouraging you to file online because paper returns are piling up and employees are running behind. So if you want your money quicker, doing it online is your answer. Taxpayers have the option to request an extension by July 15th to file their taxes then the full return is due by October 15th. However, if you owe money, it must still be paid by July 15th.
You could receive a penalty if you don't file on time. KIMT spoke with the owner of Nietz Tax and Accounting in Rochester, Bill Nietz. We asked him if he thinks this extension has been beneficial to his clients. He's finding out it's just allowing people to procrastinate. "I haven't had any clients that have said, 'oh, I'm so glad that I have three more months to pay this bill,' explained Nietz. "They would certainly rather the money in their pocket than actually pay the IRS."
The deadline to file for both Minnesota and Iowa state taxes is also July 15th. If you file for a federal extension on your taxes, it automatically extends your state return as well.