Tax Day reminders for El Pasoans filing last minute

EL PASO, TX (KVIA) -- Tax Day is today this means you have until midnight tonight to file your taxes and pay any owed amounts. If you fail to pay your taxes this could result in penalty fees or interest, however if you know you’re due a refund, the failure to file penalty won’t apply to you.

Here's a simple guide to help you through the process:

• Gather Documents: Ensure you have all necessary documents in order, including W2s, 1099s, and any other income statements.

• Choose Filing Method: Decide whether to file electronically through the IRS website or by mail. E-filing is faster, more secure, and recommended.

• Claim Deductions/Credits: Don't forget about potential deductions or credits you may be eligible for, such as the Earned Income Tax Credit or Student Loan Interest Deduction.

If you need more time, you can request an extension, but remember, this only extends the time to file, not to pay. Brian Mirau, ABC-7 financial contributor emphasizes, “You still want to go ahead and pay your estimated tax liability. There's a form that you can use on the extension form and you want to be sure and get those paid by April the 15th.” Those filing for an extension have until October 17th to file. 

The IRS is also warning taxpayers of of scams. According to recent data from the Federal Trade Commission, money lost to scams has increased by 14% in the last year.

Here are some red flags to watch out for:

• The IRS never contacts taxpayers via email, text, phone call, or social media to request personal or financial information.
• Beware of "ghost preparers," fake tax return preparers who refuse to sign your tax return legally.
• Be cautious of promises of inflated refunds or offers to alleviate tax debts; if it sounds too good to be true, it probably is.
• If you receive a letter, double-check the phone number with the IRS website.

Special Agent Jeanette Harper, public affairs officer for FBI El Paso also emphasizes to watch for links, “Don't trust any of the links that are in those emails. So do a little bit of the research yourself by actually going to Google. You can also hover over the link and actually see what that the address is and see where it'll take you.”

Always protect your information, never give out your social security or bank account numbers to someone you don’t trust. If you suspect you've fallen victim to a scam, report it to the authorities including the IRS or the Federal Trade Commission.