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IRS Tax Filing Incentives

(May 27) -- April 15th is now behind most taxpayers, but some people still need to file.The IRS is reminding those people that they can still file extensions on line. The IRS says 10 million taxpayers will file after the April 15th deadline. They want those people to know you can still e-file your returns until October 15th. Even if you didn't get an extension, the IRS says it will still take all returns that are e-filed.

On top of that, the IRS says several private companies participating in the free file program will continue to provide free return preparation and e-filing services to eligible taxpayers through October. 

The IRS is also offering a new incentive program to business taxpayers. Anyone who uses the Electronic Federal Tax Payment System could qualify for a refund of a previously paid tax deposity penalty. You could qualify for the one-time refund if you had to pay a deposit penalty on tax form 941.

The reason for the push by the IRS is accuracy. They say people who use the electronic payment system have an accuracy rate, twenty times greater than those who don't. Greater accuracy means fewer penalties.