Local tax firm gives advice on last-minute filing
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TONAWANDA, N.Y. (WIVB) -- Filing taxes can be taxing for some, but local tax experts and offices are busy helping those who put off filing until Tax Day.
"This is our last day to file our taxes and we waited too long this year to make an appointment, so we are one of the ones scrambling to get our taxes filed," said Judy Tyler, of North Tonawanda, who filed her taxes with EG Tax. "We had a lot of things going on at the end of winter and the dates got away from us and we just waited too long, but we have our appointments already made for 2026, so this is the last time we ever come on the last day of filing."
Esther Gulyas, president and CEO of EG Tax, believes people had the tendency to push back filing their taxes this year due to Western New York's winter weather, but also, the trend seems to be popular.
"I know the IRS put out a bulletin the other day that they were down two million returns because people have a tendency to be pushing everything back," Gulyas said.
Gulyas will be helping those who need to still file up until the deadline at 11:59 p.m. Tuesday.
If people can't file by the end of the day, they can apply for a six-month extension.
"An extension is usually granted for all cases," said Cassie Nguyen, a clinical assistant professor of accounting and law at the University at Buffalo's School of Management. "It gives you another six months from April 15th to October 15th, you have more time to work and figure all the details out."
Gulyas noticed this tax season that a lot of people who are used to getting a refund are owing money this year.
"There was a lot of money in banking this year because people got a lot of money in the savings accounts, and as a result, they're owing more money than normal," Gulyas said.
Gulyas said it's important for people to know that if you file for an extension, it doesn't extend the deadline to pay.
"They have a compounding penalty of five percent if you don't timely file, on the balance due per month, until it gets to 25%, then there is a failure to pay a penalty that's a half percent per month until it gets to 25%, then there's interest on the whole can of worms," Gulyas said. "It gets to get very punitive, and that's what you don't want to do, you don't want to get behind."
Gulyas also said people have three years to amend their return.
"If you find something that maybe, 'Oh I forgot,' you can always add to the tax return, make an adjustment," Gulyas said. "You have three years until the statute runs out."
For more tax information and tips, visit the IRS website here. For more information about EG Tax, visit its website here.