Time running out on 2018 tax return extension

Posted at 5:11 AM, Oct 14, 2019
and last updated 2019-10-14 05:42:57-04

(LEX 18) — If you filed an extension on your 2018 tax return, the deadline to file is Tuesday.

Though these taxpayers were able to get more time to work on their 2018 tax returns, they still had to pay any taxes owed by April 15.

If you are on track to miss Tuesday's deadline, prepare to pay a five percent failure to file penalty.

The 2018 tax season was a complicated one for accountants and filers. It was the first time taxpayers submitted returns under the Trump Administration tax cuts.

The new law nearly doubled the standard deduction, eliminated personal exemptions and put new limits on certain itemized deductions.