WASHINGTON - Monday is Tax Day 2022, the federal deadline to file income tax returns and pay taxes owed, and the IRS expects millions of last-minute filings both electronically and through the mail.
The IRS said that as of April 8, it had received more than 103 million returns for this tax season. For comparison, last year more than 169 million people completed an income tax return by the end of the year.
That probably leaves nearly 40% of this year's taxpayers still unaccounted for, with many scrambling to submit their documents by Monday.Meanwhile, some 15 million taxpayers are expected to request an extension of time to file, according to the agency.
But such an extension does not mean delaying payments owed."An extension of time to file is not an extension of time to pay, however, and taxpayers must estimate their tax liability on this form and pay any amount due by the April 18 filing deadline to avoid penalties and interest," the IRS said Monday in a statement.FILE IMAGE - Internal Revenue Service 1040 Individual income tax forms for 2021 arranged in Louisville, Kentucky, U.S., on Tuesday, April 12, 2022.