Truth 4. Meeting filing deadlines
The Internal Revenue Service is all about numbers, and that includes dates on calendars. If you don’t file your return on time and if you owe tax, you’ll face penalties and interest.
Everyone knows about April 15, the day tax returns are due. But as countless procrastinators can attest, it’s when your return must be en route to the IRS, not when the agency actually has to have your 1040 in hand.
The IRS considers a paper return filed on time if it is mailed in a properly addressed envelope, has enough postage, and is postmarked by the due date. The official term, per Section 7502 of the Internal Revenue Code, is “timely filed.” The tax code also notes that the date on a U.S. Postal Service receipt ...