If you haven't filed your taxes yet, WOKV's Consumer Warrior Clark Howard says it's time to get to work.
"The most important thing is, regardless of whether you got money or you don't, file your return or file an extension right away, before Wednesday," says Howard.
Due to the coronavirus pandemic, the Treasury Department postponed the traditional April 15th federal filing deadline until Wednesday, July 15th.
Howard says if you are currently unable to pay what you owe to the IRS, you are far from alone.
"There are huge numbers, I don't even know how many tens of millions of people, who can't pay their tax bill that you owe this Wednesday," says Howard.
If you’re in this situation, Howard recommends filing your return and paying whatever you can toward what you owe. As for the rest, try setting up a payment plan.
"The IRS is so backed up, that you will probably have finished paying them off under whatever plan you propose by the point they'd ever get around to answering you and accepting or rejecting your payment plan offer," explains Howard.
Howard says whatever you do, don’t ignore this deadline. He says what you have to pay if you fail to file is ‘beyond ugly.’
Get more consumer news and advice from Clark Howard in his latest on-demand podcasts.
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