Business & Tech

Still Haven't Filed Your Taxes? Here's Some Last-Minute Advice

Judy Baxter, CPA has some last-minute tax advice for those who have waited until the last possible minute to file their 2011 tax returns.

So, you think tax season begins when Statue of Liberty “mascots” hit the streets to wave to passers-by?

Think again.

According to Judy Baxter, Greenfield’s Chamber of Commerce president and a , the busy tax season starts long before that.

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“It actually starts right after Thanksgiving when you’re working with people who are planning and making decisions that will affect their business for the following year,” Baxter said.

Baxter, who has worked with individuals and small business owners at tax time for nearly three decades, said she starts setting up appointments with individuals around Feb. 1. Those appointments start with a rush of parents of college students who need to file early in order to fill out applications for federal student aid and end with those who wait until the last second before the deadline, which this year is Tuesday, April 17.

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For those procrastinators, Baxter has a few last-minute tips:

1) If you need to, file an extension online at www.irs.gov. By now, it’s getting to be too late to set up an e-file account or payment, but you can send in an estimated payment with your extension, if you anticipating owing the government.

“Extensions are fairly normal and are necessary in many cases,” Baxter said. “Some people do not have all their info yet, especially those who have received income from a trust.”

Also, in most cases, federal extensions cover your state returns as well, and you don’t need a tax preparer to file the extension, according to Baxter.

2) People who don’t have a tax return to file should check to see if they are eligible to receive money under the state of Wisconsin’s Homestead credit.

3) You can amend your federal tax returns for up to three years and your state tax returns for up to four.

“Some people don’t realize they have something to report that would generate a refund until years after they’ve filed,” Baxter said.

Below are additional links to more local tax consultants:


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