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.
Reason #17: you like options.
An income tax extension means you have the option to file later. It doesn’t mean you have to wait until October 15 to file.
So if you get a tax extension, you can choose to either fight the crowds and try and file for April 15. Or, you can take advantage of the extra 6 months a tax extension provides and choose to file your taxes anytime between April 15 and October 15. What’s key is that the extension eliminates you from a late filing penalty.
Whether you are new to tax extensions or not, remember that filing a tax extension does not give you more time to pay what you owe the government or face the possibility of penalties and interest. You still need to make your payment by midnight on April 15.
Have you ever filed an IRS extension? Thinking about filing one this year? Drop me a note in the comment section below.
