The Norman Transcript

March 29, 2013

April tax deadline nears


The Norman Transcript

NORMAN — How complicated are federal income tax rules?

Sixty percent of all taxpayers hire a professional to prepare their returns.

Those professionals handle 80 million tax returns, many of them over the next two weeks.

Just as the tax season enters its peak days, the IRS says it has put some allegedly unscrupulous preparers out of business.

In the last six months, the Justice Department says it has closed more than 30 tax preparers and tax fraud promoters. Many of the new scams involve refund loans at exorbitant interest rates.

Some accountants start filing extensions in the first week of April. Better to buy some extra time than be late with a return.

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