I'm Darrin Mish. For 32 years I've practiced federal tax litigation \u2014 routine audits, Tax Court cases, and everything in between. If you're facing an IRS issue, here's what you need to know first.<\/p>\n
Haven\u2019t filed your tax returns yet?\u00a0 Don\u2019t worry, there\u2019s still time.\u00a0 Many millions of Americans have not filed their tax returns and habitually do not do so until the eleventh hour.\u00a0 If you\u2019ve been procrastinating till now, it\u2019s time to do something and at least begin the tax filing process<\/a>.\u00a0 Here\u2019s what you can do:<\/p>\n Apply for extension<\/p>\n If you feel your taxes will require more time for you to compile the necessary documents and calculate the correct figures, you should apply for a six-month extension to file.\u00a0 This is an automatically-approved extension allowed to file your returns not an approval to delay paying.\u00a0 You must still pay your taxes (or an estimate of it) by April 15th but you can submit your tax return forms later.<\/a>\u00a0 To apply for extension, fill out IRS Form 4868.\u00a0 This form must be submitted to the IRS by April 15th.<\/p>\n Lower your taxes<\/p>\n It\u2019s still not too late to lower your taxes by contributing to a traditional Individual Retirement Account (IRA) or a qualified Health Savings Account (HSA).\u00a0 These contributions are tax-deductible.\u00a0 For tax year 2014, you may be eligible to contribute up to $5,500 to a traditional IRA as long as you\u2019re below 70\u00bd years old and have earned income. \u00a0In addition, if you\u2019re aged 50 and above, you may be able to make an extra \u201ccatch-up\u201d contribution of $1,000.<\/p>\n You would be eligible to contribute to a traditional IRA if neither you nor your spouse is covered by an employer retirement plan.\u00a0 But if you or your spouse is covered by such a plan, eligibility to deduct contributions phases out at higher modified adjusted gross income limits. \u00a0For existing qualified HSAs, you can contribute up to $3,300 for individual coverage or $6,550 for family coverage.<\/p>\n Do not get fooled by tax scams<\/p>\n Especially if you\u2019re submitting your tax returns at the last minute, it is possible to get conned by criminals who try to scam you into divulging your Social Security number, bank account number or other personal details.\u00a0 These scammers are trying to steal your tax refund or get you to give them money<\/a> in exchange for some promised service or to avoid a so-called hefty fine by the IRS.<\/p>\n Remember, if anyone calls you saying they are IRS agents, it\u2019s very likely a scam.\u00a0 The IRS never initiates contact with you by phone.\u00a0 Likewise if you receive an email purportedly from the IRS, it\u2019s highly suspicious, too for the same reason.\u00a0 Report such incidences to the IRS and the police.\u00a0 The important thing is to never disclose your Social Security number and personal financial details over the phone or online.<\/p>\n Do not waste your refunds<\/p>\n