(CNN/NBC) - April 15th is Tax Day and if you're procrastinating, you're not alone. The IRS says nearly 50-million taxpayers still haven't filed.
If you are part of that group, it’s not too late to take advantage of the government's free file program. Individuals with an income of $66 thousand or less have options to file federal and state returns at no cost. Experts say it's important to double check for any mistakes because that could lead to a delayed refund or less money back.
Turbo Tax says nearly a quarter of all people are waiting till the last minute to file and that could be because new tax laws are making the burden of taxes even more daunting than usual. David Williams with Intuit and Tax Financial says, "The biggest question we get is 'how will tax reform affect me?”. Also, “We have observed over the last 5 years a trend toward people filing later and this year it's particularly pronounced.”
If you aren't able to get everything together tonight, the IRS recommends filing for an extension, which you also need to do by midnight. This will prevent taxpayers from paying late penalties but it won’t provide more time to pay tax money that is owed. If you're banking on a refund and hoping to get that cash in hand quickly, direct deposit will be your best bet.
If you never filed in previous years, you might want to add that to the list tonight. Some people are missing out on what could be a big refund from previous years. There are $1.4 billion in unclaimed refunds dating back to 2015. Of course, the only way to get a tax refund is to file a tax return but not everyone does it. If you forgot or didn't think you had to, especially if you didn’t make that much money, you could be missing out.
Edward Kala, with American Institute of Certified Public Accountant, says, “We found over time that a lot of times people are hesitant to file because of some event that takes place. There's a divorce, they're ill or a family member is ill or they lost a job, that type of situation."
Taxpayers have three years to claim their cash but after that, it becomes the property of the government, forever. The average unclaimed refund from 2015 is nearly $900.
President Trump will be spending Tax Day in Minnesota, talking about how your tax money is spent.