Tips From Our Florida Tax Attorney As Federal Filing Deadlines Approach
If you are among the many Florida residents who have yet to file their taxes, approaching tax deadlines may be causing you stress. Whether you are filing as an individual or a business owner, being aware of key deadlines, potential deductions, and common tax filing mistakes can help you avoid costly penalties.
As a certified public accountant and a former FBI special agent investigating tax cases, Florida tax-IRS attorney Ronald Cutler provides trusted tax guidance. He offers tips to navigate the final days of tax season efficiently while minimizing your tax burden.
Tax Deadlines, Extensions, Deductions, and Credits: What Florida Residents Need To Know
The Internal Revenue Service deadline for the 2024 federal tax filing deadline is April 15, 2025. While some taxpayers file early in the season, others put it off until the last minute.
Unfortunately, not adhering to Internal Revenue Service deadlines can result in severe penalties. However, you may be able to request an extension by submitting IRS Form 4868. This delays your filing deadline until October 15, 2025.
However, this does not extend the time to pay any taxes owed. If paying tax debts poses a significant problem, maximizing your credits and deductions could provide some relief:
- Standard vs. Itemized Deductions: Determine whether itemized or standard deductions do the most to lower your tax liability.
- Retirement Contributions: You can contribute to an IRA or other qualifying retirement accounts up to the April 15 deadline while still deducting them from your 2024 taxes.
- Self-Employed Tax Benefits: If you are an independent contractor or small business owner, you can lower your tax debts by deducting expenses such as home office costs, health insurance, and business-related travel.
- Energy-Efficient Home Improvements: Federal tax credits are available for qualifying home energy upgrades, such as solar panels and energy-efficient windows.
If this fails to reduce your tax debts, you may be able to request more time to pay what you owe.
Avoiding Common Mistakes When Filing Your Federal Taxes In Florida
Unless you have filed and been approved for an extension, ensure your taxes are filed by April 15 to avoid penalties. However, avoid rushing when it comes to actually completing your return. Common mistakes and errors that can delay processing or trigger an audit include:
- Filing with incorrect Social Security numbers or mismatched information;
- Overlooking deductions or credits you qualify for;
- Forgetting to report all income, including freelance or gig work;
- Failing to pay estimated taxes if you are self-employed.
If you are uncertain about any aspect of your return, seek professional tax assistance to ensure accuracy and compliance with IRS regulations.
Schedule A Consultation With Our Florida Tax-IRS Attorney
As tax season winds down, ensuring your return is filed correctly and on time is essential to avoid penalties. For trusted help with tax planning, filing, or resolving IRS issues, contact Florida tax attorney Ronald Cutler.
As a certified public accountant and a former FBI special agent investigating tax cases, he can help successfully resolve even the most complex tax issues. As tax deadlines approach, do not delay. Schedule a consultation with our Florida tax attorney today.
Sources:
irs.gov/filing/individuals/when-to-file
irs.gov/pub/irs-pdf/f4868.pdf
irs.gov/payments/payment-plans-installment-agreements
