10 Things Not To Do On Tax Day

April 15, 2015 5:02 PM

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1. Fib on your taxes and think you’ll pay later. Don’t cheat to get your money faster – or to avoid paying what you owe now. Lying on your return is wrong. It’s also criminal. Even assuming that you don’t get charged criminally for fraud, the IRS does track patterns of tax behaviors: if they notice a pattern of bad filing behavior (filing now to avoid paying, for example), you’ll eventually be flagged. In addition to slowing future refunds, causing delays in processing and potentially increasing your audit risk, you’ll also get socked with a pretty nasty tax bill. You’ll eventually have to pay what you owe plus penalty and interest.

2. Call your tax professional for anything other than an extension. Lean in closely for this one and listen very carefully. Your tax professional may be awesome. Your tax professional may love you as a client. Your tax professional may be thrilled to have your business. But – and this is important –...

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