MEDFORD, Ore. – The tax deadline is on Monday.
If you’re having a late start, NBC5 News spoke to a local tax expert who has some advice. Patrick Hurley with Hurley’s Tax Inc. has been a tax professional for over 40 years.
He said that he has over 500 clients but only around 200 of them have filed their taxes. A majority of the other half, however, have filed for extensions, which is what Hurley recommended people and companies to do, if they don’t think they’re going to be able to file their taxes in time. Hurley said,
“You’re going to avoid a penalty. The penalty is for failure to file and not having an extension, which is 5% per month, up to 25%. If you don’t owe money, you [get] back your refund let’s say or you have no tax liability, but you filed a tax return, there’s no penalties or interests for filing late.”
Hurley said filing for extension can be done on the IRS website or other online resources. He also said an extension gives you until October 15th to file.
© 2024 KOBI-TV NBC5. All rights reserved unless otherwise stated.