5 Last-Minute Tips for Tax Procrastinators
The clock is ticking for those still not done preparing their 2017 tax returns. To help beat it, keep these five timely tips in mind.


If you expect to file your 2017 tax returns at the last minute, you’re not alone. Approximately 40 million Americans waited until the last few days before the deadline to file their tax returns last year, and there’s no reason to believe it will be any different by this year’s April 17 deadline.
Finding Expert Help at the Last Minute.
Accountants and other tax experts are swamped between now and the tax deadline and may not be in a position to take on new clients, so ask a financial adviser or attorney to provide a recommendation. If the request comes through an adviser, the accountant might squeeze in a new client at the last minute to keep a professional colleague happy.
Last-Minute Mistakes to Avoid.
People with taxable investment accounts need to make certain all 1099 forms sent in early February are still accurate and that they hadn’t been corrected later in the month. The initial forms sent in late January may have been updated, and you don’t want to file a return based on an incorrect 1099.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Also, don’t forget to include those tax documents that typically arrive later than most. Some aren’t required to be provided to you until late spring. For example, people who are beneficiaries of a trust or a member of an LLC may not receive a Schedule K-1 form until mid-March or later.
If Necessary, File an Extension.
The IRS allows anyone to file for a six-month extension simply by filing form 4868. While it may be uncomfortable to put off a tax return, it’s better to file a correct return instead of rushing headlong to beat the deadline and making mistakes in the process.
Note, however, that filing an extension does not provide extra time to pay your taxes. You still must estimate and pay what you owe by April. You will be charged interest on any amount not paid by the deadline.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Jason Cross is a wealth adviser at McGill Advisors, a division of CI Brightworth. He works with high-net-worth families in investment management and estate planning and helps business owners develop financial plans to sell their businesses. Jason is a Certified Financial Planner™, Certified Trust and Financial Advisor and an active member of the Georgia Bar Association.
-
Four Surprising Signs You’ll Never Retire (and How to Fix Them)
Gearing up to retire? If any of these four signs ring true, you may want to make some changes before you do.
-
Stocks Rise After Trump-Powell Fed Tour: Stock Market Today
Nvidia hit a new all-time high intraday, but another renowned semiconductor name and some less iconic stocks were bigger movers Friday.
-
How Divorced Retirees Can Maximize Their Social Security Benefits: A Case Study
Susan discovered several years after she filed for Social Security that she is eligible to receive benefits based on her ex-spouse's earnings record. This case study explains how her new benefits are calculated and what her steps are to claim some of the money she missed.
-
From Piggy Banks to Portfolios: A Financial Planner's Guide to Talking to Your Kids About Money at Every Age
From toddlers to young adults, all kids can benefit from open conversations with their parents about spending and saving. Here's what to talk about — and when.
-
I'm an Investment Pro: Here's How Alternatives Could Inject Stability and Growth Into Your Portfolio
Alternative investments can often avoid the impact of volatility, counterbalancing the ups and downs of stocks and bonds during times of market stress.
-
A Financial Planner's Guide to Unlocking the Power of a 529 Plan
529 plans are still the gold standard for saving for college, especially for affluent families, though they are most effective when combined with other financial tools for a comprehensive strategy.
-
An Investment Strategist Takes a Practical Look at Alternative Investments
Alternatives can play an important role in a portfolio by offering different exposures and goals, but investors should carefully consider their complexity, costs, taxes and liquidity. Here's an alts primer.
-
Ready to Retire? Your Five-Year Business Exit Strategy
If you're a business owner looking to sell and retire, it can take years to complete the process. Use this five-year timeline to prepare and stay on track.
-
A Financial Planner's Prescription for the Headache of Multiple Retirement Accounts
Having a bunch of retirement accounts can cause unnecessary complications. Consolidation can make it easier to manage your savings and potentially improve investment outcomes.
-
Overpaying for Financial Advice? A Financial Planner's Guide to Fees
Take five minutes to review how much you're paying for financial advice. If you're overpaying, you could be better off with an adviser who charges a flat fee.