Late Filing in Illinois? Here’s What You Need to Know about Extensions and Refunds – NBC Chicago

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Tax Day is a crucial time for the IRS, and they are highlighting the improvements in customer service that have been made possible by the significant increase in funding from the Democrats’ Inflation Reduction Act. These improvements range from reducing phone wait times to digitizing more documents and enhancing the user-friendly features of the “Where’s My Refund” tool.

This push to spotlight these improvements is not only to showcase a more efficient and effective IRS but also to establish a new standard before potential cuts from congressional Republicans. It’s a race against time for both taxpayers and the IRS during this season.

The effort to streamline the tax filing process is no small feat, and the hard work of everyone involved is commendable. However, missing the tax filing deadline can result in penalties, specifically the Failure to File Penalty. It is essential to file your taxes on time, even if you can’t pay the full amount, as interest and penalties can accumulate quickly.

For those unable to pay their taxes in full, the IRS offers payment plans to help manage the outstanding balance over time. Additionally, filing for a tax extension is an option, as long as it is done by the tax deadline. An extension provides an additional six months to file taxes but does not excuse late payment.

The main concern for many taxpayers after filing their taxes is the status of their refund. The “Where’s My Refund” tool provided by the government can help track the progress of your refund, with most refunds being issued within 21 calendar days. It’s essential to stay informed about the status of your refund to manage expectations accordingly.

Overall, the tax season is a hectic time for both taxpayers and the IRS. The improvements in customer service and user-friendly tools have made the process more manageable, but it’s crucial to be aware of deadlines, penalties, and payment options to navigate the tax season successfully.

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