Last-minute tax filers race toward federal deadline

Although the income tax deadline is here, accountants Monday were still snowed under and tax preparers are expecting a busy day today.

More than 2.7 million federal tax returns are expected to be filed this year from Missouri, said Michael T. Devine, the state's IRS spokesman. The government agency estimates 154,600 six-month extension requests will be filed.

As of April 4, the IRS estimates 1,770,700 total returns from Missouri: 1,641,600 E-file returns; 949,100 practitioner E-file returns; 692,500 E-file returns via home computer; and 129,100 paper returns, Devine said in an email to the Southeast Missourian.

More than 93 percent of Missouri returns have been e-filed, Devine wrote, and Missouri taxpayers are filing about 10 percent fewer paper returns than last year.

Nationwide, the IRS said, roughly 140 million returns are expected to be filed this year.

Among those is Scott County Central superintendent Alvin McFerren, who was getting his return squared away Monday morning at the Jackson Hewett office on Kingshighway. He declined to talk about why he waited to file, but said he feels more comfortable using professionals to prepare his taxes rather than doing it himself.

His wife is self-employed and "everything that encompasses running a business is pretty complicated," so using a tax preparation service has always worked for McFerren in the past.

"So if it's not broke, no need to fix it," he said.

Teresa Robinson, office manager and senior tax adviser for H&R Block at William Street and Silver Springs Road in Cape Girardeau, said traffic was steady Monday. She expects today to be "one of our busiest days."

"We're about normal, so we are having quite a few [late filers]. It's par for the course," Robinson said. "Every year there are people who wait until the last minute."

Robinson said people wait to file for a few reasons. For some, she said, it's a tradition like Black Friday shopping, others don't like to focus on taxes, and others may have delayed for certain business forms.

Ruth Lane, office supervisor at Jackson Hewett on Kingshighway, said most people file early, then things slow down for late February and March; then in April, "the last ones come in."

If you are a last-minute filer, Lane said be sure to have all your documentation together. One reason people may wait is forms for the self-employed come in later, and student loan interest also takes time to come in.

Scott Van de Ven of Van de Ven LLC Certified Public Accountants and Advisors said those needing an extension shouldn't panic.

"Extensions have an automatic approval," he said. "It doesn't extend your time to pay tax if it's due, so you will be charged interest on the late payment. But you can get an automatic extension and that [can] give you time to get your records in order. ... It's a six-month extension which will extend the return from April to Oct. 15, and they can file any time in the interim."

He said IRS.gov has a lot of information for most filers.

"I'd say at this point, if you got to today and you're really not ready to file or do not have your information together, an extension is probably the best course of action so you're not working under pressure and [leaving] money on the table," Van de Ven said.

Another timing aspect is the Cape Girardeau post office will not extend its hours, postmaster Craig Slate said. "We are offering normal hours with normal pickup times," he said.

Trucks leave for St. Louis at 2:15 and 4:15 p.m., Slate said.

Contract post office locations at Bi-State convenience store, 920 N. Kingshighway, and First State Community Bank, 2527 William St., have 3 p.m. pickup times.

rcampbell@semissourian.com

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Pertinent address:

3439 William St, Cape Girardeau, MO

1020 N. Kingshighway, Cape Girardeau, MO

920 N. Kingshighway, Cape Girardeau, MO

2527 William St., Cape Girardeau, MO