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 #15: taxpayers who file a tax extension have their own special tax deadline: October 15.
Think about it…while everyone else is scrambling around on April 15 like it’s the end of the world, you can relax because your tax deadline is completely different and seemingly far away in the future. Thanks to a tax extension, you get an extra six months to file, making your tax deadline October 15.
A tax deadline that’s different from everyone else is special, but it’s hardly unique. Nearly 15 million individuals and businesses file a tax extension each year.
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.
