For Last-Minute Filers, a Little Extra Time to Get It Together

Today is April 16 -- and there's still time, brother.

Because the traditional April 15 tax deadline fell on a Saturday this year, taxpayers in Virginia and most of the rest of the nation have until tomorrow to get their returns in. Residents of the District and Maryland, along with taxpayers in five other states -- Maine, Massachusetts, New Hampshire, New York and Vermont -- get until Tuesday because Monday is Patriot's Day, a holiday, in Massachusetts, the location of the filing center for these jurisdictions.

So, brothers (and sisters), if you haven't filed, you may still be able to get your return in on time.

It's worth doing, especially if you are expecting a refund. Every day you let pass -- and you can let quite a few pass if you get an extension, but more on that in a minute -- is another day you are lending your money to the government interest-free.

That's good for the government, but not good for you.

Doing a tax return in a day or two may sound daunting, but for most people it's not as hard as it sounds.

For individuals and families whose income is from wages, dividends and interest, and whose deductions are mainly state and local taxes and mortgage interest, collecting the records and filling out the forms is more drudgery than rocket science. The forms are designed to walk you through the process, so while there are lots of jokes about "subtracting the amount on line 32 from the amount on line 24," taxpayers who follow those directions usually end up with an accurate return.

A common taxpayer worry, of course, is that he or she may miss some obscure goodie (or fall into some hidden trap), but the forms are helpful on that score as well. It's a good idea to read each line on the form, especially the 1040, because the questions can remind you of benefits to which you may be entitled or bits of other income you should report.

(If your situation is simple and you know where you stand, the 1040A and the 1040EZ are easier, but the 1040 covers the waterfront and is a better guide. Plus, it's required if you want to itemize deductions or have certain kinds of income.)

But if you're hustling to finish at the last minute, there are some things to be conscious of.

First, be careful. Be sure to include your Social Security number and those of your spouse and dependents. This requirement includes babies born last year. The Internal Revenue Service used to give young kids a pass, but that was so widely abused that when the rules were tightened some years ago millions of dependents suddenly vanished.

And check your arithmetic. If you make a mistake, the IRS probably will catch and fix it, but it could delay your refund.