Tax Extension Center continues its series of The Top 100 Reasons to File a Tax Extension. This series is intended to show taxpayers that a tax extension is valuable because it saves individuals and/or their businesses time, stress, and even money.
Here’s reason #35: you just flat out hate taxes.
You won’t find many people out there who will admit to you they love taxes. Most people don’t like them at all. And then there’s the portion of the population that hates taxes. Hates with a capital “H”.
At the very top of the list of things that aren’t likeable about taxes is the act of filing them. The paperwork, the receipts, the deductions, W-2’s, 1099’s, K1’s – it’s enough to make you sweat just thinking about it.
Think about it: doing our taxes is so repulsive to us that we pay accountants really good money just so we don’t have to deal with it.
If you are one of those people that really hates taxes, then filing a tax extension is a great option. The extension gives you an extra six months so you can enjoy your Spring and Summer. You won’t even have to think about the “t-word” until football season.
Whether you are new to filing an IRS extension or you file one every year, remember that a tax 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. An IRS extension gives you more time to file the necessary tax forms you’re supposed to file. Failing to make a payment could make you subject to tax extension penalties and interest.
Have you ever filed an IRS extension to file taxes for yourself or your business? Thinking about filing one this year? Drop me a note in the comment section below.
