Last minute tax tips

KNOXVILLE, Tenn. (WVLT)- It's a day where procrastinators find themselves lined up at post offices around the country, sometimes trying to put off the inevitable-- tomorrow is the deadline to file your taxes.

And even if you're still scrambling to get it all done, we're here to help.

The easiest way to file your taxes, may be by simply logging on to irs.gov.

It's the tax agency's web-site, and they want you to know it's open 24 hours a day, seven days a week.

Once there, there are a number of resources-- including answers to commonly asked questions, information on tax laws, and even the chance to file on-line, for free.

But there are other key points to keep in mind.

First, don't miss Monday's deadline if you owe the government money.
You'll only rack up some possible penalties.

Second, an extension only postpones filing, not paying.

You should pay what you can, if you owe. That lowers the amount of interest you'll have to pay later.

Many people do e-file this days, but if you don't, be careful.
Paper returns are filled with common mistakes, like putting in the wrong information.

Also, make sure you have filed previous returns, if you're hoping to get a refund.
And don't miss out on the tax credit for workers.

Another thing to watch out for try not to get too big a refund.

Eric Schurenberg says, "It feels like a great big gift. But it's actually the other way around. When you think about it, the average refund is three thousand dollars. Now think about that, that means that one hundred dollars in unnecessary tax withholding comes out of every paycheck."

Eric Schurenberg, Editor-in-Chief of CBS Moneywatch.com says *that money could be saved or put towards something else, including investments.


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