Tax Day is this Monday, April 15. Yes, that's right -- THIS Monday!
Haven't filed your taxes yet? Check out these tips to ensure you and your spouse receive the maximum benefits on your returns, even in the last minute rush to pay good 'ol Uncle Sam.
The tuition and fees deduction can lower your taxable income up to $4,000 for qualified higher education expenses you paid in 2012.
You are eligible to claim a credit for up to 10 percent of the cost of eligible home improvements to your main residence, with a maximum lifetime credit of $500! For example, in 2012, if you and your spouse purchased and installed energy efficient windows and doors or insulation, you may be eligible for this tax break.
Still don't feel like you have enough time to file? You can file for an extension through April 15, but take note; an extension does not extend the time to pay tax liability. Even if you can't pay the taxes you owe, you should file an extension to avoid the 5 percent monthly penalty for failing to file your return. You will need to estimate your 2012 tax liability and pay at least 90 percent by the April filing deadline. H&R Block can help taxpayers understand their payment options if there is a balance due.
Participating H&R Block offices are offering free extension filing now through April 15. To find a tax office in your area to file for an extension or to prepare your 2012 return, visit hrblock.com.