Texas Tech University

When dealing with IRS, late is better than never

Houston Chronicle

April 15, 2015

Houston Chronicle - It's time to file your taxes or, like several million fellow American workers, tell Uncle Sam you need six more months.

Many people seeking the additional time are missing an important document. Others simply procrastinated.

"Generally, it's lack of detail on organization," said Robert Barnhill, professor of financial planning at Texas Tech University.

Like Jones, Barnhill stressed the importance of filing for an extension. He said the IRS is more willing to work with people who file extensions than those who don't.

"Not filing creates many more problems than filing and not paying," he said.

Barnhill also recommended sending some money with the extension to minimize the late fees.

Read the rest of the story.