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 #23 goes something like this, two words: swine flu.
How ironic is it that flu season coincides with tax season?
We all know how awful the flu makes us feel. H1N1 (better known as the swine flu) is even worse. No matter which version you get, filing your taxes is the last thing you want to do while you’re in bed with a fever or even once you get healthy again.
As I write this, the CDC reports that the flu is relatively tame right now compared to it’s peak in November. Experts are predicting another uptick in reported cases right around the March/April timeframe.
If you get the flu, take the easy option and file a tax extension. That way you won’t have to suffer through both tax and flu season at the same time. You can recover and file your taxes when you feel better thanks to the extra six months a tax extension provides.
Whether you are new to tax extensions or 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 (or in the case of a corporate tax extension March 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 penalties and interest.
Have you ever filed an extension to file taxes for yourself or your business? Thinking about filing one this year? Drop me a note in the comment section below.
