KANSAS CITY, Mo. — April 15 is the last day to file taxes this year.
Whether you file by Monday or request an extension, the key is filing on time to avoid penalties and other costly mistakes.
If your household income is $64,000 or less, you can file your federal and state taxes for free with help from the University of Missouri-Kansas City's Vita Tax Clinic.
Kimberly Luken, UMKC accounting professor, told KSHB 41 reporter Olivia Acree she expects more refunds to be issued this year but less money to come back in each.
She said the rise in gig work is a contributing factor.
“I always tell my students, 'Remember that an extension to file is not an extension to pay,'" Luken said. "So, if you know you owe the IRS, or do your best to come up with the estimate of what you owe, you need to still pay that on April 15 to prevent a late filing penalty and potential underpayment penalty."
Luken said that thinking an extension gives you more time to pay is the most common mistake she sees because it doesn't. If you know you owe, Luken advises paying before the end of the day.
The professor also said even if you're not required to file, she still recommends filing a tax return for identity protection.
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