It’s a day we all have circled on our calendars. It’s also a day none of us like. It’s April 15th. It’s Tax Day.
Of course, you have to get those taxes in before midnight. Unless you file for an extension. Houston CPA Bob Fumagalli says extensions are more common than you think.
“I would say with my clients, I extend 40% of them,” Fumagalli stated.
Refunds are a bit smaller than last year. Fumagalli says people made the mistake of think tax reform meant bigger tax refunds.
“People started getting more money in their checks. That would tend to make for smaller refunds,” he said.
And if you're afraid of an audit, the odds of that happening, according to Sports Insider dot com, are 1 in 175.