Virtually all these errors can be eliminated by electronic filing.
The number of extensions goes up every year. We expect more people to procrastinate.
It is done to steal financial information and to steal your identity or get hold of your finances.
It's safe, easy, and accurate. The error rate of an e-filed return is less than 1 percent. The error rate of paper returns is 20 percent.
The penalty for failing to pay is much smaller than the penalty for failing to file.
You should not panic. If you are unable to file a timely or accurate return, then you need to file an extension.
Paper returns done by hand have an 80 percent accuracy rate, or 20 percent error rate. E-file has more than a 99 percent accuracy rate, because the computer does all the work for you.
In their haste, they don't double-check everything. You need to do that.
We are pretty much a nation of procrastinators. We do expect more people to file extensions this year ... But it's not an extension to pay. Any amount paid late would be subject to late fees.
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