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Do Tax Extensions Make the IRS Angry? |
When considering filing for an income tax extension, many taxpayers wonder: does the IRS frown on this sort of thing?
It's only natural to wonder. In most bureaucratic systems, you are penalized for lateness in one way or another. However, many believe that filing an income tax extension actually makes you less likely to be audited, as IRS agents are busy filling their audit quotas in April, May and June (although the IRS won’t tell anyone their actual secrets as to what triggers an audit). The important thing to remember is:
The IRS does not care if you file an income tax extension.
That's why they automatically grant a six-month extension to anyone who asks and submits their application properly.
Many people might think tax extensions are only for those procrastinators who can't get themselves together in time--but you'd be surprised how many people and businesses routinely file tax extensions. Besides, you never know when life will get the jump on you:
- Maybe someone else failed to provide the paperwork you need (a W-2 or 1099, for instance) to file on time.
- Maybe you had life changes, like a marriage, divorce or child, and you suddenly discover a whole new world of tax requirements, deductions and forms to fill out. When did you suddenly grow up and become a "head of household," anyway?
- Maybe your accountant got buried under a mountain of other clients who got there first, or had more complicated taxes.
- Maybe you couldn't find a good accountant at all.
- Maybe you used tax software, and it wasn't all it's cracked up to be.
- OK, maybe you are just a procrastinator. But once again, please remember:
The IRS doesn't ask why you need a tax extension, and doesn't care. As long as you get the form filled out correctly and submitted on time, the IRS will automatically grant your extension.
Now that you've accepted your need for a tax extension, how do you file it? You can do it right here at FileLater.com. We will check your extension for errors to ensure a smooth submission, and we'll let you know as soon as the IRS accepts or rejects it.
And if for any reason your extension isn't approved, we'll let you know why, right away. You can fix the errors and resubmit it through us, at no additional charge.
Don't wait another minute (you procrastinators out there know who you are). File online for an income tax extension at FileLater.com.
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FileLater provides a secure online solution for individuals and businesses seeking to e-file an IRS income tax extension. FileLater is an authorized IRS e-file