Adam Bateman, a partner in the tax practice area of Atlanta accounting firm Moore Colson, said things are still busy at the office, albeit less so than usual at Tax Day, thanks to the extension. His firm represents some clients in South Georgia, including farmers who faced damages from September’s hurricane.
“It’s taken a little bit of the pressure off, at least a couple weeks of additional time, for us to get some things wrapped up,” Bateman said.
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He has also seen an uptick in people requesting six-month extensions. Although those push back the deadline to file returns to Oct. 15, taxpayers still must pay any money owed to the IRS by May 1, or risk penalties, he said.
“You have to make sure by May 1, you have paid your entire liability for 2024,” he said. “Otherwise, you could be assessed penalties and interest for late payment.”
Scams also ramp up during tax season, Bateman said. Thieves posing as IRS agents send text messages or make calls demanding immediate payments. But the IRS will only contact you via written communications, he said.
“The IRS is not going to call you. They’re not going to call and threaten you,” Bateman said. “The public is a little bit more vulnerable right now to those types of scams.”
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