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Every January, Bankrate rolls out its annual Tax Guide, adding tips daily to increase tax awareness so you can utilize every tax credit and tax deduction possible. Just because you waited until October to file your tax return doesn’t mean you’ll miss out.
To accommodate the millions of taxpayers who file for an extension, we’ve pulled together some stories to help you meet the Oct. 17 tax deadline, starting with our newest story exploring why we procrastinate in the first place. It’s written by tax expert extraordinaire, Kay Bell. The award-winning journalist is charged with writing and updating Bankrate’s Tax Guide every year, and the monumental project may, at least in part, account for why she herself is filing late this year.
Why we procrastinate filing taxes
Plenty of people wait until October to deal with their taxes, and they may have good reason for doing so.
You can still e-file your taxes
Electronic filing is still available to taxpayers who put off filing until Oct. 17. That includes the IRS’ Free File program.
Making Work Pay credit last chance
Don’t forget to claim this credit, worth up to $400 for individuals and twice that for couples, when you finally file your 2010 tax return. For 2011 and beyond, it’s no longer on the tax books.
Don’t make these tax mistakes
You waited until the October tax deadline to file your taxes. Don’t get in a hurry now and make costly tax mistakes.
Don’t overlook these tax breaks
When you finally fill out your 2010 tax return, make sure the extension was worth it. Be sure to take all the tax breaks for which you qualify.
Tax breaks for a hobby-turned-business
If you’re making money off your hobby, you may want to turn it into a business.
Job search tax deductions
You may be surprised to learn that your job search can help cut your tax bill.
Making Work Pay tax credit in 2011
If you got some extra cash in your paycheck last year, then you benefitted from the Making Work Pay tax credit.