April 15 Is Here!

April 15, 2014 – TaxTalk Blog

The April 15 individual income tax filing deadline is upon us. Here’s a rundown of last-minute filing and payment options.

If you can meet the deadline:
Overall, if you can meet today’s deadline, you should do so to avoid penalty and interest. If you need last-minute assistance or have any questions about your tax return, call the department at (317) 232-2240.

INfreefile, the department’s free online filing program, is still available for qualified taxpayers to electronically file both federal and state taxes at www.freefile.dor.in.gov. Filing online is the fastest and easiest way to ensure returns are processed on time.

If you can’t meet the deadline:
If you are missing tax documents or can’t file by the deadline, you have two options to extend your time to file: you can submit an extension of time to file form to either Indiana or the IRS. Doing so gives you more time to file, but you are still liable for interest accrued on any unpaid amount.

The IRS offers a federal extension of time to file (IRS Form 4868). Taxpayers who file this form won’t need an additional extension for Indiana. A federal extension extends the taxpayer’s filing period with Indiana to November 17, 2014.

If you don’t have a federal extension of time to file, you can file for an extension with Indiana:

  • Download Form IT-9 and mail it to the department postmarked by today.
  • Determine whether you will owe state taxes. You should pay at least 90 percent of the tax due when filing the extension to avoid any penalty.
  • You will have until June 16, 2014, to file your return and, if applicable, send the rest of your payment.
  • Penalty will be waived if you file and pay the remaining balance by the extension date. Interest is always due on amounts paid after the original due date.

Either way, you have to pay
Remember, all tax owed is due April 15, even if you have an extension or haven’t filed.

You can pay tax owed online through the department’s secure ePay site at www.epay.in.gov. Taxpayers who can’t pay the full amount owed should pay as much as possible to minimize penalty and interest charges. ePay has a $1 check processing fee and a varying credit card processing fee.

If you receive a tax bill, a payment plan can be established using INtax Pay at www.intaxpay.in.gov. Taxpayers will qualify for a bill payment plan if they owe more than $100 and can pay at least 20 percent down.

Estimated tax payment due today
The first estimated tax installment payment is due today as well. There are a few options available for making an estimated tax payment:

  • You can make an electronic payment online using ePay.
  • You can download Form ES-40 and mail it and the payment with today’s postmark. After the department has processed your payment, we will send preprinted vouchers for the remaining installment payment periods.
  • You can carry over any amount of the overpayment (refund) from your current-year tax return to the next year’s estimated tax account by completing the back of Form IT-40 or Form IT-40PNR.

Good luck, last-minute filers!

If you would like to submit a question or topic suggestions, please send them to feedback@dor.in.gov
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