NEW HAVEN, Conn. (WTNH) — It’s almost April, and if you have not filed your taxes yet, the IRS is warning those refunds may be smaller this year because covid-related tax perks have expired.

“So no more stimulus payments, for example,” said Ted Rossman, Senior Industry Analyst at “That was something that juiced a lot of refunds last year.

Also last year, the child tax credit was expanded and the child independent care credit was expanded, and there were some additional credits that no longer exist.”

Experts say a large tax bill, or an outsized tax refund, may be signs that you need to change your number of withholdings.

Rossman says keep in mind, if your lifestyle is changing or has changed. For instance, if you got married, got divorced, or you had a child. These are all things that can affect your withholdings.

Avoid late fees and penalties by filing your taxes by the April 18 deadline. If you need more time, file an extension.

If you can’t pay your tax bill on time, Rossman says the best option is to try to work out an extension with the IRS. “They’re actually remarkably forthcoming with this, especially if you owe under $50,000.”

A final note: When choosing a tax preparer, look for a credentialed, certified public accountant or tax attorney, and be sure they have a personal tax ID number.

And, if you get a tax refund, experts say use at least some of that money to pay down credit card debt. With credit card interests now averaging 20%, paying down debt quickly is a good return on your money.