Don't look now, procrastinators, but income tax deadline day is one week from today.
CPA Hayley Cornelius of San Antonio's ATKG CPA firm, tells News Radio 1200 WOAI she is seeing a lot more people waiting until the last minute to file this year, and she thinks many of them are hoping for a tax miracle from the White House.
"Some people might be waiting because they think that legislation is going to change with the new administration," she said. "That may be the case, but nothing will be seen on your tax return until tax year 2017."
Cornelius says the vast majority of late filers owe the IRS, and many of them have been putting it off because they don't want to have to come face to face with having to write that big check.
"They don't want to deal with the uncertainty of what their taxes are going to look like," she said. "If they are going to owe, they are very stressed about the whole thing, and they're rather put it off."
But she warns that waiting until the last minute means taxpayers frequently make a lot more mistakes, an overlook deductions.
She recommends that late filers spend a little extra time going over their return with their CPA, just to make sure that everything is accurate.
Why April 18th this year? That's the latest tax deadline day we've seen in a long time. April 15th, the usual tax day, falls on a Saturday this year, and Monday the 17th is Emancipation Day, a holiday in Washington DC, and the IRS offices are closed. So the big day this year is one week from today.