Lake County Gazette

The deadline to file income taxes is quickly approaching, with Illinois taxpayers having until Monday, April 15 to submit their returns. Individuals who are yet to file their taxes should be aware that if they believe they will owe money, they must estimate and pay that amount by the deadline to avoid penalties.

For those looking to file their taxes for free, there are various services available, including VITA (Volunteer Income Tax Preparation) provided by the IRS, myfreetaxes.com, the IRS free file portal, and the MilitaryOneSource portal for service members. It is crucial for taxpayers to educate themselves and make informed decisions when choosing a paid tax preparer to avoid potential financial harm or scams.

When it comes to filing statuses, there are five options, including single, head of household, married filing jointly, married filing separate, and qualifying surviving spouse. Additionally, individuals who are self-employed need to file a tax return if their net earnings were $400 or more.

While taxes can still be filed via mail, most returns are now filed electronically, with an average refund check in 2023 amounting to just under $3,200. For individuals who accept credit card payments for goods and services, filing form 1099-K is a requirement.

To assist taxpayers in navigating the tax filing process, the AARP website offers a helpful list of "10 Things You Need to Know Before Filing Your Tax Return," which can be particularly beneficial for seniors and those looking to avoid fraud.