It often isn’t a question of doing taxes at the last minute, according to Austin H&R Block owner and accountant Warren Smith, it’s more a question of people putting off paying their taxes.

Monday, April 17, 2000

It often isn’t a question of doing taxes at the last minute, according to Austin H&R Block owner and accountant Warren Smith, it’s more a question of people putting off paying their taxes.

"You see the lines at the Post Office and think everyone puts their taxes off until the last minute, but that’s a misconception," Smith said. "Most will do their taxes early, but many wait to mail them until today."

For those who have figured out their taxes but who are wanting more time to pay, Smith said IRS Form 9465 – an installment agreement request – is the way to go. By sending the installment request in today, a person can spread payments out for up to three years. Smith warned that the IRS does charge a $43 origination fee to set up the installments.

Another option, both for those who are organizationally handicapped or who expect to have the money soon, is IRS Form 4868, which gives the taxpayer another four months to file. However, they need to estimate the amount due and include it with the form.

Smith added a word of warning about other extra expenses associated with filing late.

"If you file a tax return late, you will be hit with 5 percent fees for each month up to 25 percent," Smith said. "There also is interest charged."