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DjelicS | GettyIf you filed a tax extension for more time on your 2022 return, the deadline is fast approaching. The federal tax-extension deadline on Oct. 16 is the last chance to avoid a late filing penalty, according to the IRS. Here are three things to know if you still haven't filed your 2022 return, according to financial experts. The failure-to-file penalty is 5% of unpaid taxes for each month or part of month until filing, capped at 25%, she said. You may be eligible for IRS Free FileRoughly 70% of taxpayers qualify for IRS Free File but only 2% used it during the 2022 filing season, according to the National Taxpayer Advocate.
Persons: Chris Cybulski, Kassi, Judy Brown Organizations: Financial, Artica Financial Services, IRS, National Taxpayer, SC, H, Washington and, CNBC, Scott Bishop, Presidio Wealth Partners Locations: Austin , Texas, manila, Anchorage , Alaska, Washington, Washington and Baltimore, Houston
New car buyers with a monthly payment over $1,000 rose to an all-time high of 16.8% in February, auto information site Edmunds' data showed. While car prices have been leveling off as the supply chain normalizes, interest rates are squeezing buyers' wallets. A monthly car payment of more than $1,000 is starting to show its painful effects. Punishing interest rates are forcing car buyers to make tough decisions. "If you're already tied up with a large car payment, then I suggest you sell it and get a car you can actually afford," Fetters said.
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