What you need to know when you go get your taxes done

HOUSTON (KTRK) -- The deadline to file your taxes is quickly approaching.

Wednesday, April 15 is the day set by the federal government. You either must file your taxes by then or file for an extension. If you don't, you could face fines and interest on back taxes. If you file an extension, you'll have until October 15 to file your 2014 tax return.

Katherine Beckner helps low-income families work through the paperwork at Neighborhood Tax Center. Becker warned against stretching the truth on deductions.

She also noted that the Affordable Care Act's penalty is in effect this year. What that means is failure to buy health insurance can result in a $95 fine or one percent of your income, whichever is greater. The penalty increases over the next two years to $695 or 2.5 percent of your income, whichever is greater.

"People tend to procrastinate and nobody likes doing their taxes," said Beckner. "It can be hard work. It can be confusing. It's scary to a lot of people. But if you gather your documents and bring it to us, we're happy to help you."

You should always check with a tax professional about your particular financial situation. You'll need every pay document possible ranging from your W-2 forms to student loan information.

For more information about Neighbor Tax Centers, click here. null
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