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 #29: a vacation beckons – the best fares for flights are during tax season and you don’t want to miss out on a great deal.
Bottom line: you don’t have to put anything fun like a vacation on hold because you need to get your taxes done. A tax extension gives you freedom in April (or March if you pay corporate taxes). Freedom to not feel stressed out like the rest of us and take that vacation you’ve been putting off forever.
The reality is that you don’t even need an excuse. Tax extensions are automatic. So check flights and book something right now for April. Your taxes can wait until October.
Whether you are new to IRS 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. 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.
