TurboTax Declares April 15 Tax Free Friday!

Procrastinators rejoice! There are three extra days to file federal taxes this year – plus win the chance to file for free online. With the federal tax deadline extended to April 18, TurboTax®, the nation’s leading tax preparation software, is giving taxpayers another reason not to dread April 15 – the chance to win free TurboTax Online software for their federal and state tax return.

TurboTax has declared April 15 "Tax Free Friday.” In addition to being freed from having to file their taxes by the 15th, last-minute taxpayers can win free TurboTax Online Premier throughout the day. To learn how to participate in a giveaway for TurboTax Online software, follow TurboTax on Twitter or visit the TurboTax Facebook page. Taxpayers can also get their last-minute tax questions answered for free through live video chat on Facebook with CPA and VP of TurboTax Bob Meighan 10 a.m. – 11 a.m. PST that same day.

What Happened to April 15?

The District of Columbia celebrates Emancipation Day on April 16, the date President Abraham Lincoln signed the Compensated Emancipation Act and freed more than 3,000 slaves in Washington, D.C. With the holiday falling on a Saturday this year, the nation’s capitol will observe it on April 15. And that means Internal Revenue Service offices will be closed, bumping the tax deadline to April 18 and giving federal taxpayers a three-day reprieve.

Not all state tax deadlines are April 18, however. Taxpayers should check with their state’s Department of Revenue to confirm their state tax deadline.

Tax Tips for Procrastinators

Last year about 27 percent of taxpayers waited until the last two weeks to file their taxes. (See the TurboTax Top 10 Most Tax Procrastinating Cities list to learn who puts things off until the last minute.) Here are a few money-saving tax moves to help procrastinators reduce their tax bill and maximize their refund.

• Contribute to an IRA – Even procrastinators can save money on their taxes. Taxpayers have until the April 18 deadline to contribute to an IRA and get a deduction.

• Remember charitable contributions – 70 percent of late filers own a home. With homeownership come itemized tax deductions. Donations and even mileage to and from volunteering can be tax deductible.

• Need more time? – Taxpayers can get an extra six months to file, until Oct. 17. But remember: A tax extension is not an extension to pay taxes. Late filers are 25 percent more likely to owe on their taxes than early filers. These taxpayers still need to pay (within 90 percent accuracy) to avoid late penalties.
• Can’t pay? – You’re not alone. Taxpayers who can’t pay the full bill can request a streamlined installment plan from the IRS. You may qualify for a streamlined plan as long as you don't owe more than $25,000, and you must be able to pay your tax bill off within five years.

For more money-saving tax tips, visit Tax Break, the TurboTax blog.

About Intuit

Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by providing on-demand solutions and services that make it easier for consumers and businesses to manage their money.

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