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Tax deadline drawing nearer

Photo by Shelley Hanson A tax preparation office is shown in downtown Wheeling on Thursday. For those who may have been putting it off, the deadline to file one’s income taxes is nearly here. The IRS’ tax day is Monday, April 15.

WHEELING — For those who may have been putting it off, the deadline to file one’s income taxes is nearly here.

The IRS’ tax day is Monday, April 15.

According to the IRS, people who believe they need more time to file their income taxes can request an extension until Oct. 15.

“You must file your request by the April tax filing due date to get the extension,” the IRS notes. “Make sure you pay any tax you owe by the April filing date. The extension is only for filing your return.”

Local certified public accountant Jeff Yourkovich said this tax season has been going well for his clients.

“I think the filing season has been smoother. People don’t have stimulus payments or advanced child tax payments. So it’s smoother sailing in that regard,” he said.

Yourkovich said those who have not yet filed their taxes and need more time will likely have to file an extension with the IRS. However, he reminds people that they still need to pay their taxes.

With the tax deadline around the corner, Yourkovich said he can likely help people file extensions on the taxes.

For more information call 304-242-0985.

Yourkovich believes people could benefit from having a professional look at their taxes as they often do not know what to do to get the best savings. Some people do their own to save money, but in the end might be missing out on a bigger tax return, he said.

For example, some people do know how to calculate a 15% depletion on their gas and oil royalties.

“Some people can’t or won’t afford a professional service. But sometimes being cheap can cost you in the end,” he said.

According to the IRS, some people may qualify for an automatic filing extension. This includes those in federally declared disaster areas. People in the military who are stationed overseas or in a combat zone. And United States citizens or a resident alien living outside of the U.S.

Forms for an extension can be found on the IRS website, https://www.irs.gov/. There is no income limit to file an extension.

People can also request an extension via mail.

“File Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return,” the IRS notes. “You can file by mail, online with an IRS e-filing partner or through a tax professional. Estimate how much tax you owe for the year on the extension form: Subtract the taxes you already paid for the filing year.”

People can also pay what they owe via payment options found on the IRS website.

“Check the box that you are paying as part of filing for an extension. You don’t have to file a separate extension form and you’ll receive a confirmation number of your extension for your records,” the department notes.

Volunteer Income Tax Assistance Site Coordinator Lynette Parker said the volunteer tax preparers, who operated out of the Ohio County Public Library, have already had 1,460 returns accepted by the IRS via e-file. She noted the free program typically helps about 2,000 people per year with their returns. They have a lot of return customers, but new ones each year as well.

Parker said people who were affected by last year’s flooding and still need help with a return or filing an extension can come to the library on Monday or call 304-232-8985.

She added that those who know they are getting a return can file their federal taxes late without being penalized by the IRS.

Parker said the VITA service is an important one because it helps bring money back into the community.

“We are in the millions returned to taxpayers,” she said. “Helping people helps the community. They can use that money in the community and having a population in a better financial position helps the whole community.”

Parker noted the VITA service is always looking for new volunteer tax preparers and support people such as greeters and people to hand out paperwork. Many of the volunteers have helped for decades including Parker who has served for 23 tax seasons.

She said the VITA preparers receive online training from the IRS annually.

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