Americans rush to file as tax deadline looms
With nearly 100 million returns filed and about 35 million more expected, many seek extensions to Oct 15. Taxpayers can request Form 4868 online or by mail with a Tuesday postmark to avoid penalties, while late payments incur 0.5 percent monthly interest up to 25 percent.
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IRS audit chances at multi-year low as tax deadline nears
IRS plans fewer audits than since the 1980s as budget cuts strain resources and delay responses. Commissioner Koskinen warns some noncompliance may go uncaught while tech helps detect mismatches like wage and investment income. Last year’s individual audit rate fell under 1 percent, and the commissioner says this year will show further declines.
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Internal Revenue Service
IRS
John Koskinen
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