COLORADO SPRINGS, Colo. — Some people file their taxes as soon as their required documents become available. Other people wait until the last minute to file. Wherever you are in the process, we have some information you need to know about filing your taxes.
We sat down with Kathy Bylkas, Owner of Your Tax Lady in Colorado Springs. She says their office is slammed with people trying to file their taxes before it's too late. "This is basically our Christmas..." she says, explaining that this is their busiest month of the year.
Need more time to file? Bylkas recommends everyone file for an extension now- and avoid doing so through mail. She says mailing in your taxes can cause extra delays. "The IRS is not the fastest at opening their mail."
Here's some motivation to file- Coloradans who file their return will receive an $800 TABOR refund in addition to the regular refund. This is not a stimulus, but a refund on extra money the state already collected from taxpayers. Time is of the essence though- there's less than a week to file!
If you file for an extension, you'll have until October 15th, 2024 to get everything done. Otherwise, you'll be charged both penalty fees and interest- which is charged every day until you file and pay any money owed. Bylkas says it's a good idea to see a tax professional for help with filing.
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