April 4, 2003
Posted at: 8:45 p.m. CST
JONESBORO, Ark. -- As the 2002 tax season comes to a close, there are still some in Region 8 that are making a mad dash to get their taxes filed.
There are options and new tax breaks for all you last minute filers. Tax preparers are getting ready April 15, a day they call "T-day." They say, however, that there are a number of reasons they say people wait until the last minute but there's one in particular.
"Most times they have to pay," Lillian Carter, a tax preparer with Jackson Hewitt said. "We do have some people that are getting some nice sized refunds though."
If you haven't filed your tax return yet, remember that April 15 is the last day to file without an extension from the Internal Revenue Service. Tax professionals say they're expecting a big rush.
"They'll rush in next week though," Carter said. "They always for those who don't have W-2 forms and all the tax materials they need."
"The extension is just for them to file," Teresa Orrick said. "If they think they are going to have a balance due they must pay that by April along with filing for extensions."
A new child tax credit allows up to $600 for children under 17. IRA credits have changed and the biggest is the retirement credit.
"That will depend on the filing status and the income and they may be allowed this credit from zero up to 50%," Orrick said.
Orrick says those serving in the military will have one less thing to worry while they are serving over seas.
"They are granted an extension for 180 days for those that are in combat zones and if they do not have a power of attorney they can get one of those and we can go ahead and file a tax return," Orrick said.