Tax reminders ahead of next week's deadline to file
MILWAUKEE- The deadline to file tax returns is quickly approaching and TODAY'S TMJ4 has some tips that will hopefully help you out.
With a week until the tax deadline, a lot of people are scrambling to get their taxes done. If you're one of them, then you know things can become unorganized and you can miss those deductions.
This is the busiest time of year for tax preparers like Scott Franklin. "I was working 12 hour days and I'm trying to get all the returns out the door," said Kohler and Franklin CPA Scott Franklin.
The federal government is giving you two extra days to file your taxes -- since April 15th is a Sunday this year.
Franklin says the most important thing you can do is make sure you have all your financial forms together. "We just want all of their tax data. Their W2, their interest slips, their dividends slips," said Franklin.
You'll also see a couple of big changes. The state's cracking down on people who shop online -- and try to avoid paying sales tax. "New this year -- they actually want you to check a box that says 'I am certifying that I don't owe sales tax' -- otherwise here's how much I owe."
He says the state can check that out -- and if you lie -- you could face a steep penalty.
Wisconsinites can now also deduct their health savings account. "One of the first laws passed by the new legislature and the governor allowed HSA's to be recognized for Wisconsin purposes."
Franklin says no matter what -- always remain calm in the midst of chaos. "Worse case scenario - get an extension," said Franklin.
Whether you have someone do your taxes or you do them yourself -- the state recommends you recheck all your personal information.
If you need an extension -- just file for both the IRS and the state by clicking here.