Benefit in 2025 With an IRA Charitable Rollover

Each year, traditional IRA owners aged 73 and older must take a required minimum distribution (RMD). In nearly all cases, the RMD is calculated using the Uniform Lifetime Table. Under the Uniform Lifetime Table, distributions generally commence at age 73 at approximately 3.8% and increase each year based on the age of the IRA owner. The RMD must be taken by December 31 each year.

Many traditional IRA owners with larger balances take their RMD during the months of October, November and December. Because many individuals with larger IRAs do not need IRA distributions throughout the year to pay for living expenses, they often delay an RMD until the end of the year. This allows the IRA balance to benefit from additional tax-free growth during the year.

Fortunately, the IRA charitable rollover will count towards the donor's RMD. Although RMDs are not required until age 73, the IRA charitable rollover can be used by any donor once they reach age 70½. The IRS term for an IRA charitable rollover is a qualified charitable distribution (QCD) which is also the term commonly used by IRA custodians.

There are five donor profiles for IRA charitable rollover gifts. The first are the convenience donors who find it a simple method for an end of year gift. The second is the generous donor who wants to give more than the 60% of adjusted gross income (AGI) deduction limit for cash gifts. The third is a major donor who may be a generous individual looking for a favorable opportunity to make a major gift. The fourth donor is the Social Security recipient looking to reduce taxes with an IRA charitable rollover gift. Finally, a donor who takes the standard deduction can also benefit from an IRA charitable rollover gift.

Convenience Donor

Many IRA owners wait until the final months of the year to take their IRA withdrawals. As the individual approaches the end of the year, he or she will need to make decisions related to their RMD. If an IRA owner is actively making gifts to charity during the year, then using a QCD is a good opportunity to make a gift.

Convenience donors may contact their IRA custodians to arrange for an IRA charitable rollover. There is no charitable income tax deduction, but also no inclusion in federal taxable income. It is a simple and convenient way to help their favorite charity.

Generous Donor

Some generous individuals already donate up to 60% of their AGI which is the maximum limit allowed by the IRS for deduction of cash gifts each year. Any gifts over this limit may be carried forward and deducted over the following five years. Some generous donors may also have a large IRA and live at a moderate expense level and may not need their entire IRA.

If there is a desire to give more, they can give up to 60% of adjusted gross income from their cash assets and make "over and above" gifts from an IRA. Some generous donors may in effect give nearly 100% of their income per year through this method. Since the IRA charitable rollover is not included in taxable income, it will have no impact on their regular income and other charitable gifts.

Major Donor

As the rules have continually become more favorable for IRAs and required withdrawals have been reduced, IRAs balances are likely to keep growing. There are occasional market dips, but the long-term trend is positive and IRAs will continue to increase in value.

For many professionals and business owners, the IRA may become most of the estate. In these cases, it may be desirable to do "asset balancing" to keep future RMDs at manageable levels. To accomplish this goal, the major donor can give up to the maximum QCD amount in 2025 of $108,000 from his or her IRA. This has the advantage of "balancing" the estate assets.

In addition, there may be income tax benefits. If the donor were to take the IRA distribution into his or her own personal income, there are several types of exemptions that are phased out at higher income levels. Thus, it may be preferable to make the gift directly from an IRA rather than making a charitable gift from regular income.

Social Security Donor

Social Security is subject to two levels of taxation. For donors who have income in excess of the first level, 50% of Social Security is taxed. For donors with income in excess of the second level, up to 85% of Social Security income may be subject to tax.

Withdrawing any amount from an IRA will potentially cause the amount of the donor’s social security benefits that are taxable to increase from 50% to 85%. Even if the withdrawn amount is given to charity and then deducted, there may still be increased tax on the donor’s income. Thus, by making the transfer directly to charity, many Social Security recipients will save income taxes.

Standard Deduction Donor

Many seniors do not have a mortgage and have medical deductions that are less than 7.5% of AGI. Thus, they may not have a sufficient level of deductions to itemize and choose instead to use the standard deduction.

If a donor withdraws $1,000 from his or her IRA and then gives it to charity, there is $1,000 of increased income with no offsetting charitable deduction, since the standard deduction is taken. Therefore, it may be preferable for all donors who take a standard deduction to make IRA charitable rollover gifts directly to charity and avoid the additional income tax on their RMD.

 

Published April 25, 2025

How to Save on Auto Insurance

Can you offer any tips to help seniors save on their auto insurance?

As auto insurance rates across the country continue to rise, drivers may face an even bigger increase once they reach their 70s, as insurers in some states take into account age-related changes in driving ability and the higher likelihood of physical injury in collision. Fortunately, there are ways you can reduce your premiums. To find out what discounts may be available to you, contact your auto insurer and inquire about these options.

Increase your deductible: Paying a higher deductible could lead to significant savings on your premiums. For example, raising your deductible from $500 to $1,000 can bring your annual premiums by 15% to 20% on average. Be sure you have sufficient savings set aside to cover the higher deductible if needed.

Adjust your coverage: Consult with your insurance provider to determine if adjusting coverage could help lower your premium while still providing sufficient protection. If you are driving an older vehicle that is paid off, you may want to consider removing collision or comprehensive coverage if your premium is more than 10% of the car’s value. Collision insurance covers damage to your car if you are involved in a crash or if you are the victim of a hit-and-run. Comprehensive insurance covers damage caused by acts of nature (such as storm damage), vandalism, theft or fire. If you are scaling back to liability coverage, make sure you have enough to pay for damages out-of-pocket if you are in an accident or your car sustains damage due to weather, theft or another non-collision event.

Take a defensive driving course: Some insurance companies offer defensive driving discounts – between 5% and 15% – to drivers who complete a refresher course to brush up on their driving skills. Courses are available online through organizations like AARP, the American Automobile Association and the National Safety Council. The cost of defensive driving courses can vary by state and course type, typically ranging from $15 to $150.

Report your mileage: Some insurers offer discounts to customers who drive limited miles each year, which is usually beneficial to retirees who drive less because they no longer commute to work every day. These low-mileage discounts usually kick in when your annual milage drops below 7,000 miles, though exact thresholds vary by insurance provider.

Bundle policies: If your auto insurance policy is issued by a different company from the one insuring your home, call each insurer and ask if bundling the policies would be cheaper.

Sign up for driver monitoring: Some insurers offer discounts based on how and when you use your car. They will monitor things like your acceleration, braking habits, driving speeds and phone use, which are monitored via a smartphone app or a device that plugs into your car’s diagnostic port. Drivers can be rewarded anywhere from 10% to 30% for safe driving. In addition, many insurance providers also offer discounts to drivers who have not had any violations or accidents for three or more years.

Ask about membership discounts: Many insurers offer discounts through professional associations, workers’ unions, large employers or membership organizations. You may also qualify for savings based on the college you attended or the fraternity or sorority you belonged to.

Improve your credit: You may be able to lower your car insurance premium by paying your bills on time and reducing the amount of debt you carry. Insurers evaluate at how customers manage credit to gauge risk set premiums. Lower rates are given to those with good credit scores, typically around 700 or above. However, insurers in some states ban or limit the use of credit scores to determine premiums.

Comparison shop: To find out if your current premium is competitive with other insurers, consider using online insurance marketplaces that allow you to compare quotes from multiple providers. You can also work with an independent insurance agent who represents several insurance agencies to help you compare.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of “The Savvy Senior” book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization’s official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

Public WiFi at the Salem Little League Ballfield

We are pleased to announce that through a collaboration between Jackson County REMC, the City of Salem, and the Washington County Community Foundation, there is now public WiFi at Salem Park (Little League Ballfield).  This was made possible through a Digital Towns grant through Regional Opportunities Initiatives. 

The public is invited to a ribbon cutting to celebrate this tremendous asset in our community on May 22, 2025 at 10:30 AM at the ballfields. 

Now, patrons of the ballfield can not only play ball, but do homework, play a game on a device, or watch an MLB game on their phone thanks to the installation of WiFi. 

“We love collaborating with community partners such as the City of Salem and Jackson County REMC to make big impacts in Washington County. We are so appreciative to Regional Opportunities Initiatives for the opportunity to apply for this amazing grant and to the generous donors of Washington County Community Foundation that make it possible to better our community,” exclaimed Lindsey Wade-Swift of the Community Foundation.

Washington County Community Foundation is a nonprofit public charity established in 1993 to serve donors, award grants, and provide leadership to improve Washington County forever

End

Late Filer Penalty Relief

On April 16, 2025, the Internal Revenue Service (IRS) explained the penalty relief options for taxpayers who missed the filing deadline. The IRS encourages taxpayers to file and pay taxes if they are able to do so. Taxpayers who make partial payments toward their tax debt can reduce the accrued interest and penalties.

Some taxpayers may also qualify for penalty relief. There is a First Time Abate administrative waiver for taxpayers who are in good standing with the IRS.

  1. History of Tax Filing — The first requirement is that you have filed for the past three years and there were no penalties assessed. If you filed for years 2021, 2022 and 2023 and did not have any penalties, you may qualify for First Time Abate relief.
  2. Additional Requirements — Taxpayers also may have to pass additional tests. Taxpayers cannot have four or more Failure to Deposit penalty waiver codes. They may not have a Daily Delinquency Penalty or an event-based filing requirement.
  3. First Time Abate Example — Assume that Taxpayer did not fully pay taxes for year 2024. Taxpayer called the IRS and requested penalty relief. The IRS gave Taxpayer a First Time Abate relief up to the date of the request. Six months later, Taxpayer made full payment on the taxes and called again. The IRS then granted another First Time Abate relief for the additional accrued penalty due from April 15 until that full payment.

The IRS emphasizes that if you do not qualify for the First Time Abate relief, there is also a possibility for relief based on your facts and circumstances. If the IRS believes that you are acting in good faith and have financial challenges, it may grant Reasonable Cause relief.

The IRS reminds taxpayers that it is still possible to file after the April deadline and receive a refund. For the 2021 tax year, an estimated one million taxpayers did not file, but they would have qualified for a refundable tax credit, most commonly the Earned Income Tax Credit (EITC) or the Child Tax Credit (CTC). Taxpayers with lower incomes should check with an advisor about potentially filing to receive a refundable tax credit. It is important to note that refunds may be delayed if more recent returns have not been filed, and any refund could be used to cover unpaid taxes, past-due child support or federal debts.

If you file for this credit, you can use the "Where’s My Refund?" tool on IRS.gov to check on the status of your refund. You will need your Social Security Number, your filing status and the exact dollar amount of your anticipated refund to use this tool.

 

Published April 18, 2025

Where Solo Agers Can Find Help

I have been giving more thought to how to plan for the years ahead. As someone who may not have immediate family to rely on, what resources are available to me, for help with important matters such as an emergency contact, healthcare decisions, financial matters and living arrangements as I age?

This is a very common concern for the 22 million solo agers across the United States who do not have adult children or other family members they can depend on to watch out for their wellbeing. Here are some tips and resources that can help.

Choosing Helpers & Decision Makers

While older adults usually name children or spouses to make decisions on their behalf, solo agers will most often choose a sibling, niece or nephew, or a trusted friend or neighbor. Whoever you choose, be sure to talk to them first to make sure they are willing to assume the responsibility.

If, however, you do not have anyone you feel comfortable asking, or who is willing to take on that responsibility, you can hire a professional. One of the best resources is an aging life care manager. These are trained professionals in the area of geriatric care who often have backgrounds in nursing or social work and can serve as your emergency contact, oversee your care and even act as your executor. They can also connect you with legal and financial professionals in your area to help manage your affairs.

Aging life care managers typically charge anywhere from $100 to $300 an hour, depending on their location and experience. You can search online for an expert near you or visit your local council on aging.

If hiring a life care manager is not financially feasible, there are other steps to take to prepare for future needs. Start by creating a basic estate plan including a power of attorney, advance directive and a will. Having these estate planning documents prepared ahead of time helps ensure your wishes are carried out if you become incapacitated and when you pass away.

To help you prepare these documents, your best option is to hire an experienced estate planning attorney, which can cost anywhere from a few hundred dollars to a couple of thousand dollars depending on location, needs and experience. In some cases, the attorney may also be able to act as your power of attorney or executor, or help you locate a professional in your area.

There are also services available to help with organizing and preparing bill payments with your approval. Alternatively, you can work with a daily money manager who, in addition to paying bills, can handle tasks like balancing your checkbook and organizing tax information.

It is also a good idea to meet with a financial advisor to help figure out what services and living arrangements you can afford and what steps you can take to ensure that your financial resources last your lifetime. If you do not have an advisor, you can find a fee-only, fiduciary financial planner through searching online.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of “The Savvy Senior” book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization’s official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

Tax Deadline - eFile or Request Extension

 

The April 15 tax deadline is rapidly approaching. The Internal Revenue Service (IRS) reminds taxpayers they should promptly file their tax return. The best practice is to file a return electronically and request any refund directly to your bank account. Electronic filing reduces taxpayer errors and will speed up receipt of your tax refund.

  1. Electronic Filing Options— Taxpayers with incomes of $84,000 or less in 2024 may use the IRS Free File software. In addition, Free File Fillable forms are available to all taxpayers, regardless of their income level. Taxpayers in 25 states may use the IRS Direct File program if they have a simple return. The IRS also supports the Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs. For members of the military, the Department of Defense offers the MilTax program for members at no cost.
  2. Where's My Refund?— The “Where's My Refund?” tool is typically updated within 24 hours after an electronically filed tax return. You will need your Social Security number, filing status and exact refund amount to check your refund status.
  3. Payment Options for Taxes— There are multiple payment options for those that owe taxes. You can use Direct Pay to make a transfer from a checking or savings account, or make a payment through an IRS Individual Online Account. Taxpayers may also pay using a debit card, credit card or digital wallet. The Electronic Federal Tax Payment System (EFTPS) is another option to accept payments. Additionally, you can also pay by check, money order or make a cash payment through a retail partner.
  4. Unable To Pay Taxes— If you experience financial problems and owe less than $100,000 in combined tax, penalties and interest, you may create a payment plan which provides you with 180 days to pay in full. If you owe less than $50,000, you can create a long-term payment plan. Under this plan, your monthly payments may be stretched out for up to 10 years.
  5. Extension to October 15— Taxpayers who cannot complete their filing by April 15 may receive a six-month extension until October 15. All taxpayers, regardless of income, may use the IRS Free File program to file Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. If you make an electronic payment using Direct Pay or a debit or credit card, you qualify for an extension. The tax payment is due on April 15 even if your filing date is extended to October 15.

There are exceptions to the filing and, in some cases, to the payment deadlines. These may apply to taxpayers who serve in an active combat zone, live outside the United States or live in certain disaster areas. Contact your tax professional or go to IRS.gov if you think you may qualify for one of these exceptions.


Published April 11, 2025

Protecting Yourself from Identity Theft

I am very concerned about identity theft. What can I do to protect myself?

The widespread reach of technology has led to growing concerns about identity theft. If your personal information falls into the wrong hands, it could lead to identity theft. Identity theft could result in fraudsters using your personal information to open credit card accounts, bank accounts and telephone service accounts or to make major purchases – all in your name.

If you suspect your personal information has been compromised or is at risk, it is advisable to place a fraud alert on your credit file. For enhanced security, consider implementing a credit freeze. A fraud alert is a notification placed on your credit report that prompts potential creditors to take extra steps to verify your identity before extending credit in your name. A credit freeze completely blocks access to your credit report, preventing anyone from opening new accounts in your name without your explicit authorization. Fraud alerts and credit freezes are completely free to set up and remove, and neither action will affect your credit score.

A credit freeze provides significantly stronger protection than a fraud alert, but there is a drawback. When you freeze your credit, you will not be able to open new lines of credit or obtain a new loan while the freeze is activated. It does not affect your ability to use existing credit cards or other accounts that are already open. If you need to apply for a new credit card or some type of loan, you can temporarily lift the freeze on your account until your application is approved; then, you can refreeze it at any time.

Fraud Alert Set-Up

To set up a fraud alert, you will need to contact one of the three major credit reporting bureaus – Equifax, Experian and TransUnion – either by phone, online or by mail. You only need to contact one of these agencies, and they will notify the other two. Here is the phone and website contact information for each of the three bureaus.

  • Equifax: 800-685-1111 or Equifax.com/personal/credit-report-services
  • Experian: 888-397-3742 or Experian.com/help
  • TransUnion: 888-909-8872 or TransUnion.com/credit-help

Even if you have not been a victim of identity theft, it is advisable to set up an “initial fraud alert.” This alert lasts for one year and can be renewed annually.

Credit Freeze Set-Up

To set up a credit freeze you will need to contact each of the three credit reporting bureaus mentioned above – Equifax, Experian and TransUnion. A credit freeze remains in place until you choose to unfreeze it. Keep in mind that, before applying for a new credit card or loan, you will need to temporarily lift the security freeze by following the procedures provided by each credit bureau.

You can monitor your credit file by regularly reviewing your credit report, even if you choose not to establish a fraud alert or a credit freeze. You can also obtain a free credit report each week from Equifax, Experian and TransUnion by visiting AnnualCreditReport.com.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of “The Savvy Senior” book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization’s official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.


Published April 11, 2025

Tax Payment Plan Options

 

The Internal Revenue Service (IRS) reminded Taxpayers of the April 15 tax filing and payment deadline. If you are not in a disaster area, a combat zone or are living and working abroad, you are obligated to pay income taxes on April 15. If you do not pay your taxes on that date, you could be subject to interest and penalties.

Taxpayers should be certain to file by April 15, 2025. If you do not file, there is a late filing penalty that could be up to 5% per month on your unpaid tax amount.

If you are unable to pay in full, you should pay as much as possible by April 15. This payment will reduce the interest and tax penalty amounts. The current interest rate is 7% per year and the penalty rate is normally one-half of 1% per month. The IRS reminds Taxpayers that extending the filing date until October 15, 2025, does not extend the deadline to pay tax.

There are four basic plan options for individuals who are not able to pay taxes on April 15, 2025. These include a short-term and long-term plan, an offer in compromise and a temporary delay in payment.

  1. Short Term Plan — If your tax balance is less than $100,000, you may have up to 180 days to pay the balance in full.
  2. Long Term Plan — A long-term payment plan may be possible if you owe less than $50,000 in tax, penalties and interest. This plan typically involves monthly payments for as long as 10 years. The IRS suggests that Taxpayers should simplify the process by using an automatic bank withdrawal each month. The longer payment plan, however, will increase your interest and penalties.
  3. Offer in Compromise — Some Taxpayers may qualify for a reduced tax amount. You may check if this option is available with the Offer in Compromise Pre-Qualifier tool on IRS.gov. By entering the required information, you can understand whether or not you may qualify for a reduced payment.
  4. Temporary Delay — Taxpayers who are experiencing serious financial hardships may ask the IRS to delay the collection process. If the IRS determines there are major financial issues and the Taxpayer is unable to pay, the IRS may grant a delay in payment. The IRS will assess interest and penalties until the payment is completed.

The IRS reminds Taxpayers who are unable to make full payment that they are more vulnerable to fraudsters. The IRS does not call, text or contact individuals to demand immediate tax payment. The normal IRS collection process starts with a bill or letter that explains the tax obligation and how Taxpayers may question or appeal that amount.


Published April 4, 2025

Volunteer Vacations

 

There are many organizations today that offer short-term volunteer vacation projects both in the U.S. and abroad, lasting anywhere from a few days to several months. Popular programs include teaching English, working with children and teens, building and repairing homes and schools, and assisting with community or environmental projects. These volunteer vacations also allow travelers the opportunity to immerse themselves in the local culture and connect with the local people. 

Most volunteer vacation groups welcome single travelers, couples and families, and you are not required to speak a foreign language. Costs will vary based on the type of volunteer program but usually range from around from a few hundred dollars to a couple of thousands of dollars per week, not including transportation to the destination country. Fees typically cover pre-trip orientation information, accommodation and meals, on-site training, local transportation, the services of a project leader and a contribution to the community that covers material and services related to the project. If the organization running your trip is a nonprofit, and there is no recreational component, the cost of your trip is potentially tax-deductible. Consult your tax professional to learn more about any possible deductions available.

Where to Look

There are various companies and not-for-profit agencies that offer volunteer vacation opportunities both domestically and internationally. You may want to use your favorite search engine to find companies by using key search terms such as “volunteering vacations” and include the geographical area in which you are most interested. Look for voluntourism programs that align with your skills and values. You will want to look for well-established organizations and review the projects and accommodations within the particular program.

You may also want to prioritize organizations with transparent funding, that work collaboratively with local groups and have a history of positive impacts and sustainability. Check reviews and independent sources, consider volunteering with reputable local nonprofits as well. It is also important to verify visa requirements before committing.

How to Choose

With so many different volunteer vacation options to choose from, selecting one can be difficult. To help you decide, consider the following questions: Where do you want to go and for how long? What kind of volunteer work interests you? What type of accommodations do you prefer? Do you want to volunteer alone or with a group? Would you prefer a rural or urban placement? What are your age and health considerations, and do you have any special needs that must be met?

Once you figure out what you want and identify a few volunteer vacations that interest you, reach out to the organization to send you detailed information about the program. This should include accommodation details, a breakdown of the fees and what they cover (including their refund policy), the work schedule and responsibilities, and anything else you may have questions about. It may be helpful to obtain a list of previous volunteers and reach out to them to hear about their personal experiences before making a final decision.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of “The Savvy Senior” book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization’s official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.


Published April 4, 2025

Correct Tax Returns Speed Up Refunds

On March 24, 2025, the Internal Revenue Service (IRS) reminded taxpayers that they can improve the probability of a prompt refund by filing a correct tax return. The IRS offered tax tips on the best ways to ensure a speedy refund.

  1. Tax Paperwork – Taxpayers should gather all their tax documents. The basic documents are IRS Form W-2’s, Form 1099’s and other information forms. There may be specific paperwork to support income tax deductions, education credits or mortgage interest payments. It is helpful to have the adjusted gross income (AGI) from your prior year tax return if you plan to file electronically. You can use an IRS Individual Online Account to view a Form W-2, Wage and Tax Statement or Form 1095-A, Health Insurance Marketplace Statement. These are under the Records and Status tab in your IRS account.
  2. Names, Birthdates and Social Security Numbers (SSNs) – You must provide the correct name, date of birth and SSN for each dependent. Your name should be entered exactly as it appears on your Social Security card. If a dependent does not have an SSN, you can request an Individual Tax Identification Number (ITIN).
  3. Electronic Filing – The IRS recommends you reduce math errors by using electronic filing. This might include IRS Free File, Free File Fillable Forms or Direct File. Your online tax software may highlight your potential tax credits or deductions. It also will check your return and prompt an entry if you have failed to include important information. If you choose to submit a paper tax return, you must be certain that you have the correct mailing address for the IRS. You can find the mailing address on IRS.gov.
  4. Taxable Income – The majority of income is taxable. If you do not report your taxable income, you could be required to pay interest and penalties. Income includes interest earned from financial accounts, unemployment benefits, income from services or the gig economy and sale of digital assets.
  5. Digital Assets – All taxpayers are asked on their tax return to answer either "Yes" or "No" to a digital asset question. You must answer this question even if you have not bought or sold digital assets in 2024. If you have a digital asset transaction, you should visit the Digital Assets webpage on IRS.gov.
  6. Bank Routing and Account Numbers – Most taxpayers request an electronic transfer of their refund into a bank account. You should check to be certain you have the correct routing and account numbers. These are on the lower portion of a check. The routing and account numbers are also available on some prepaid debit cards. This is an option if you do not have a bank account.
  7. Sign and Date – If you have a joint tax return, both spouses must sign and date the return. If you are filing electronically, you will need to authenticate the tax return by including your adjusted gross income from the prior year.
  8. Tax Payments – Tax payments are due on April 15. Individuals in a federally declared disaster zone usually receive additional time to file. You may make payments using the Individual Online Account, Direct Pay, the Electronic Federal Tax Payment System (EFTPS) or through a debit or credit card.
  9. Tax Filing Extension – Taxpayers may request a six-month extension for filing until October 15, 2025. You can pay using one of the online payment options and check the box requesting an extension. You can file Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return or request an extension through IRS Free File. The extension allows extra time for filing but is not an extension of time to make your tax payment. The exception to this rule is a limited number of individuals who are in a federally declared disaster zone.

 

Published March 28, 2025

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