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 #93: the Masters is on TV. There’s no time for taxes!
Normally The Masters draws the attention of golf enthusiasts around the world. If you love golf, you watch The Masters. That’s a given.
But this year is different. That Tiger guy is coming back. Now everyone will be watching – even people that don’t really care about golf. Most experts expect that this will be the most watched golf tournament of all time.
With all four rounds on TV (and even more coverage online), that means four less days for you to be able to file your taxes. So filing a tax extension might make a lot of sense. Instead of stressing about taxes on Moving Day, you can sit back, relax, and enjoy the greatest major of them all.
It may seem silly, but your need to watch every second of The Masters is a perfectly legitimate reason to file an extension. That’s because you don’t need a reason. The IRS doesn’t care. Tax extensions are automatic.
Whether you are new to filing a tax extension or you are one of the 15 million individuals 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.
