Last chance to file your 2022 taxes or request an extension

LAREDO, Tx(KGNS) - We are moments away from the end of Tax Day and those who were unable to pay their taxes on time will receive a five percent late fee.

However, some local taxpayers decided to take advantage of a certain way that will help keep money in their pockets.

On Tuesday, thousands of Americans rushed to their nearest tax preparer to file their 2022 taxes.

While some decided to avoid the rush and file early, others did not and decided to take precautionary measures such as filing an extension.

Ruben Salinas said he files his taxes every year.

“I’ve done it several years like that. I always have to end up applying for extension because unfortunately for some investments that they don’t come in until later,” said Salinas.

Ruben believes it’s important that people file their taxes to Uncle Sam to avoid any consequences.

“It’s an obligation for everybody to do it every year. Of course, actually I think it’s outside of our 50-per-cent of people paying taxes, the other 50-per-cent don’t pay taxes,” said Ruben.

For those who might have needed a little extra time to pay their taxes this year, Konnie Sanchez, a certified tax preparer said people should expect to pay some penalties.

“We always suggest it’s better to file an extension where you won’t get charged the penalties, because the penalties it is 5-per-cent late fee, per month that you do not file on time,” said Sanchez. “You get charged your penalties for not filing on time, so that way that we don’t set up an extension you can avoid that penalty.”

According to the IRS Website there are several ways to pay your taxes.

One way is paying electronically, by using your credit or debit card on the IRS payment webpage.

Another way is to pay your taxes with cash at stores such as CVS, Walgreens and or Family Dollar.

If you did not pay your taxes on time and ended up applying for an extension, Ruben said it’s best to pay them right away before it’s too late.

“You better get it done because it’s a big penalty that the IRS will fine you if you are late,” said Ruben.

The federal and state tax filing deadline has been extended to Oct. 16.

If you wish to know more information on tax payment, you can click here.

For more headlines. click here.

Copyright 2023 KGNS. All rights reserved.