East Texas tax preparers share tips for tax procrastinators - KTRE.com | Lufkin and Nacogdoches, Texas

East Texas tax preparers share tips for tax procrastinators

By Morgan Thomas - bio | email

LUFKIN, TX (KTRE) – Have you done your taxes yet? If you haven't, its time to get on the ball.

"If you are one minute after midnight 12:01:01. If you're one minute late or one second late - then it's late filing," said Gus patton, Manager of Liberty Tax Services.

Every year April 15th marks the end of the tax season.

"If you have to pay and you don't file and get your taxes in by midnight tonight - you will have to pay a penalty," said Patton.

Midnight is also the deadline for filing an extension. However, that's only an extension of time to complete the paperwork. Not extra time to pay.

"If ya gotta pay- ya gotta pay," said Patton.

And the penalties for late filers are steeper this year.

"Those penalties can stack up and the government does not have a problem on tacking on interest for money you owe them," said Patton.

Patton says to save on time skip the long lines at the post office.

 "You can E-file your return which gives you a better chance of getting it in by midnight," said Patton.

If all the deductions make you sweat - tax preparer Arthur McCoy had some hints.

"The one that a lot of people overlook is the medical one that your can deduct your medical prescription drugs," said Arthur McCoy, Tax Preparer.

McCoys says now you can even claim expenses for job re- location.

"Those expenses you have like your gas, your storage, things like that," said McCoy.

If you decide to use a tax professional. grab your documents and get there A.S.A.P.

"All your W-2s, socials security numbers for all your dependents and whatever identification you have," said Patton.

"If everything is organized and added up - we'll be finished in a flash," said McCoy.

So, your chances for an accurate and on-time tax return are down to the wire. Make the most of it.

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