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Federal Tax Deadline Fast Approaching

(Pennsylvania residents will have to pay sales taxes on items purchased out of state on next year's return.)

(Pennsylvania residents will have to pay sales taxes on items purchased out of state on next year’s return.)

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By Lynne Adkins

PHILADELPHIA (CBS) — The tax deadline is fast approaching and that means the time is now to get your paperwork organized.

This year’s federal tax deadline is April 17th because the 15th is a Sunday and the 16th is a holiday in Washington DC.

Still it will be here before you know it and Glen Shinners, a certified public accountant from Pipersville, Bucks County, says taxpayers need to be able to answer some key questions.

“Did they inherit money? Did they make gifts? Did they buy a house? Did they re-finance a mortgage? Did they make charitable contributions? Were there medical issues during the current year? All those types of things you need to be aware of before you go into to have your return prepared. Otherwise you could be leaving something on the table,” Shinners explained.

Shinners said all of those scenarios can all impact your return.

If you have kids in college, there’s a credit to take for up to $2,500 per student per year.