The Daily Money: Apply now for that tax filing extension to avoid penalties

Need more time to apply for your taxes? Do it now. Folks will have until Oct. 16 to file with the extension.

Read in browser Read in browser The Daily Money ALL THE MONEY NEWS YOU NEED TO KNOW Tue Apr 4 2023 Amritpal Kaur Sandhu-Longoria |  Investigative Reporter, Consumer Watchdog @AmritpalKSL Hi, this is Amritpal Kaur Sandhu-Longoria with The Daily Money headlines. It's Tuesday, or what I like to call a second Monday. We're two weeks away from the tax deadline, but if you feel like you cant make it, now is the time to get serious about filing for an extension so you can avoid penalties . Filing for the extension is easy and free, and the IRS will give folks until Oct. 16 to submit their tax return. If you're living in a state affected by natural disasters, chances are you already have more time to file. Mississippi made exceptions for storm and tornado victims by extending the deadline to July 31. California flood and storm victims have until Oct. 16. And if you can't pay your taxes. a piece of advice: file for the extension anyway. The failure-to-file penalty is way steeper than the failure-to-pay penalty. Even making a partial payment will help. Fewer open jobs February since , more people quitting Employers advertised 9.9 million jobs in February, the lowest since May 2021, and data shows that 4 million people quit their jobs to take on new positions. Since there were 5.9 million unemployed Americans in February, the 9.9 million vacancies amounted to 1.7 available jobs for each unemployed person, down from a near-record 1.9 openings in January. Economists are watching out for the March jobs report coming Friday, which could also reinforce the Federal Reserve's tentative plan to hike the interest rate in May. The Fed has been raising interest rates to cool the job market and inflation, and the new hike could range between 5% and 5.25%. 📰 More stories you should not miss:📰  He stuck up for a woman, got fired — then hit O'Reilly Auto Parts with $3M verdict: The company fired the harasser and the man who reported him. Richard Branson's Virgin Orbit files for Chapter 11 bankruptcy: The decision comes after a failed satellite launch, staff reductions and fundraising issues. Volkswagen recalls more than 143,000 Atlas models, warns to not use front passenger seat: NHTSA warns that the front passenger airbags may be deactivated. My abusive ex applied for a job at my company. Can I stop him? Ask HR: Columnist answers the reader's question on whether they have any recourse. About The Daily Money Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. Follow Amritpal on Twitter: @AmritpalKSL Jury orders Tesla to pay $3M to former worker who faced racist abuse Owen Diaz, who is Black, said he was harassed and targeted by racial slurs while he worked as a contracted elevator operator at Tesla's Fremont plant. READ MORE Advertisement How to tell if your eggs are good or bad If you're confused about how long eggs last, here are simple ways to test if your eggs are bad and how to store them extend their shelf life. READ MORE Report: McDonald's temporarily closes US offices ahead of layoffs McDonald's will notify employees of staffing decisions this week, The Wall Street Journal reported Sunday. READ MORE WWE, UFC $21.4 billion merger by Endeavor World Wrestling Entertainment, run by the McMahon family for decades, has been purchased by Endeavor Group Holdings Inc., parent company of the UFC. 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State systems were overwhelmed and slow to process unemployment claims after the pandemic began. Some states are faster now but others still struggle. READ MORE Child Tax Credit: Here's what you need to know for this tax season The maximum tax credit per qualifying child is $2,000 for children five and under – or $3,000 for children six through 17 years old. READ MORE Advertisement Sign up for the news you want Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. SEE ALL NEWSLETTERS ➔ SEE ALL NEWSLETTERS ➔ Newsletters   |    eNewspaper   |   Crosswords Follow Us Problem viewing email? View in browser Unsubscribe  •   Manage Newsletters  •  Terms of Service  •   Privacy Policy/Your California Privacy Rights  •  Privacy Notice  •   Do Not Sell My Info/Cookie Policy  •  Feedback