"If you don't make a payment on those taxes within 30 days, you're going to get a letter from the IRS. It says, 'Hi, you owe X number of dollars. You haven't paid them yet.' But it will come in a letter. I want to emphasize the IRS is never going to reach out to you by phone," said Rob Burnette, CEO, investment advisor representative and professional tax preparer at Outlook Financial Center.
Rob Burnette, the CEO of Outlook Financial Planning in Troy said that this time of year is when they’re busiest. “We usually forgo sleep. That’s the standard joke in our industry,” Burnette said.
However, timing matters. Rob Burnette, investment advisor representative at Outlook Financial Center, points out that selling gold stocks within a year means your profits get taxed as ordinary income instead of at the lower long-term capital gains rates.
"Those are the big items that factor into your itemized deductions, and if you've got enough to benefit, then by all means take it," said Rob Burnette, investment advisor and professional tax preparer at Outlook Financial Center.
For many taxpayers, though, "the amount of taxable interest on savings accounts is small," says Rob Burnette, a tax preparer at Outlook Financial Center in Troy, Ohio.
“If you are not comfortable with technology or have a more complex return, free file is probably not for you,” said Rob Burnette, investment advisor representative at Outlook Financial Center. “Engaging a professional tax preparer would probably be in the taxpayer’s best interest.”