Clock is ticking for tax procrastinators

Clock is ticking for tax procrastinators

TOLEDO, OH (WTOL) - It's crunch time for procrastinators.

Monday April 18 at midnight is the tax deadline for 2016.

It's estimated that between 20 and 25 percent of Americans will wait until the last minute to come to a place like All Pro Tax and Accounting Services in West Toledo.

That's even though folks had more time to be late this year.

The traditional April 15th deadline was extended because of Emancipation Day in Washington D.C.

Emancipation Day is a Washington D.C. holiday that marks the anniversary of the signing of the Compensated Emancipation Act, which president Abraham Lincoln signed in 1862.

The Friday holiday moved the deadline to the next business day, which is Monday.

Tax preparers at All Pro are finding a new kind of procrastinator.

They're the ones who don't have insurance under the Affordable Health Act.

"If you don't have insurance you can have a penalty of up to $325.00 a month or two percent of your adjusted growth income and it's a stiff penalty," according to Nancy White.

Some procrastinators need more time to finish their returns.

They'll file extensions.

The IRS reminds taxpayers that extensions gr ant more time but do not extend time to pay.

"If you have a refund coming you could file an extension but if you have a balance due and all your paperwork you need to get it in because they'll charge you interest starting tomorrow night (Monday) at midnight" adds Ms. White.

The IRS projects it will receive 13.5 million requests for extensions from procrastinators.

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