This post continues Tax Extension Center’s daily series of The Top 100 Reasons to File a Tax Extension. In this series of posts, we’re doing our part to educate taxpayers how 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 #90: baseball season starts in early April. You need to concentrate on your fantasy team.
Decisions. Decisions.
Taxes or fantasy baseball? Filing a 1040 or an auction draft? Taking that extra deduction or that all-important second closer in the first 15 rounds?
Only in April do fantasy baseball owners who are also taxpayers have to make such tough decisions.
Don’t dispair fellow rotoheads…I’m here to help.
You have options. If you file a tax extension, for example, you get an extra 6 months to file your taxes. That means you won’t have to file until the playoffs. Fantasy season will be over by then.
Seems like a silly reason to file an extension, but if getting your team off on the right foot is that important to you then the IRS understands! Yep, it’s a good enough excuse. You know why? Because a tax extension is automatic. No excuse is required.
Whether you are new to filing a tax extension or you are one of the 15 million invidious and businesses that file one every year, there’s one very important thing to remember: income tax extensions do not give you more time to pay what you owe the IRS for income taxes. You are still responsible for paying what you owe by midnight on April 15 (or March 15 for the corporate taxes). 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.
If you have any thoughts, comments, or questions about tax extensions let me know in the comment section below.
