Tax Extension Center continues its daily series of The Top 100 Reasons to File a Tax Extension. Our goal is to educate taxpayers that filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.
Here’s reason #75: your car broke down and your CPA doesn’t make house calls.
You finally get up the nerve to go see your CPA and what happens? Your car breaks down. Darn! Taxes will have to wait.
But there’s good news. You can easily get an extra 6 months to file your taxes by filing a tax extension. And the best part is that you don’t need a reason. IRS extensions are automatic.
So if you can’t get to your accountant because your car doesn’t work, that’s a good enough reason for the IRS. They don’t care. It seems silly, but since a tax extension form doesn’t even have a place to put a reason then rest assured you can put your tax concerns aside while you get your car fixed.
Have you ever filed a tax extension before? Thinking about filing one this year? Whether you are new to extensions or you file one very year, remember that an IRS extension does not give you more time to pay what you owe the IRS. You still need to make your payment by midnight on April 15 (or March 15 for the corporate tax deadline). An extension gives you more time to file the necessary tax forms you’re supposed to file. Failing to make your payment on time could make you subject to tax extension penalties and interest.
Questions? Feedback? Let’s chat in the comment section below.
