Some Advice for Those Last-Minute Tax Filers

Have you waited until the last minute to file your tax return? You’re not alone. The Internal Revenue Service is expecting roughly 50 million returns to flood service centers across the nation in the final weeks before the deadline.

There’s both good news and bad news for last-minute filers. The good news is that April 15 falls on a Saturday, which means Americans have two extra days--until Monday, April 17--to get tax returns in the mail.

The bad news is that the IRS is getting stricter about checking returns before delivering refunds. That makes accuracy all the more important--a problem for procrastinators, who have proven in past years to be among the most accident-prone taxpayers.

What should last-minute filers be checking? Where can they go for forms and information? How do you find a post office that’s open until midnight? Or low-cost tax help? Here’s a guide.

Accuracy Counts

Before you put the forms in the mail, realize that there are a handful of common mistakes particular to those who file in the final hours. At best, any of these mistakes could cause tax refunds to be delayed. At worst, they could subject you to IRS penalties. The common errors:

* Signatures. If you don’t sign the bottom of the return, it’s technically not filed. You could face the onerous 5%-a-month failure-to-file penalty. Both spouses must sign joint returns.

* Social Security numbers. Every person--including dependents over the age of 1--must have a Social Security number listed on the return. This year, refunds will not be processed without them, tax officials say. Your return will be kicked out of the system if you miss a digit. Check and double-check to make sure you’ve listed these numbers correctly.

* Postage. A remarkable number of people simply forget the stamps when they’re rushing to get the forms in the mail. This can trigger the late-filing penalties because your tax form will most likely be returned in the mail.

Forms, Help and Information

Normally you can get federal tax forms by calling the IRS forms line at (800) TAX-FORM. But at this late date, it’s unlikely you’d receive them before the filing deadline. Not to worry. Many post offices and libraries stock commonly used schedules, such as the 1040 and the Schedule A for itemized deductions.

Moreover, IRS agents will be handing out forms--and will be on hand to answer simple questions--at the post office locations that plan to be open until midnight April 17. If you need to know where to find one of those form-wielding IRS agents, call (800) TAX-1040. Beware, however. That toll-free line is only open from 7:30 a.m. to 5:30 p.m. and it’s frequently busy. Call early or plan to call often.

If you need help filling out the forms, you can also get a list of so-called VITA sites by calling (800) TAX-1040. These Volunteer Income Tax Assistance programs are operated in literally thousands of churches, schools, senior citizen centers and public meeting places all around the country for the benefit of low-income and elderly taxpayers who need assistance. Don’t wait until the last minute.

Payments

If you must pay taxes this year, be sure to mark your Social Security number and the tax year the payment relates to (probably 1994) on your check, says Keith Kimball, an IRS spokesman in Los Angeles. That ensures that the IRS credits the proper account without delay.

If you owe tax but can’t pay, file your return anyway, the IRS advises. Why? The penalty for failing to pay is far lower than the penalty assessed against those who fail to file. Fail to pay and the IRS will charge you one-half of 1% of the tax due for each month the payment is late, plus interest that currently accrues at a 10% annual rate. Fail to file and you face a 5%-a-month penalty plus interest. That means the failure-to-file penalty is 10 times more than the failure to pay.

You Can Procrastinate

Just can’t get it together before the deadline? Fill out a Form 4868 and you’ll get four more months to procrastinate. You only get to delay sending in the forms, however. You’re still supposed to estimate how much tax you owe and remit that amount before April 17.

California Taxes

Need help or forms to complete your California return? California has two toll-free numbers--one with real-live humans at the other end, the other with recorded answers to commonly asked questions. The numbers: (800) 338-0505 (for recorded message, forms, status of refunds) and (800) 852-5711 (for Franchise Tax Board officials who can answer other questions). Many post offices and libraries also stock state tax forms.

Franchise Tax Board officials will also be at a handful of major post offices on April 17 to provide last-minute filers with forms and help.