If you have ever worked with an accountant who helped manage your business or personal income taxes, you know that every March and April is crunch time for them. Since the tax filing season can be so chaotic and busy, why not take the pressure off (both you and your accountant) by obtaining a tax extension? In fact, FileLater can help you request an extension online in just minutes.
Here are a few reasons to get a tax extension, and give yourself (and your accountant) some time to breathe this year.
Filing in April Can Lead to a Rushed Tax Return
When you’re up against the April filing deadline (or March for business taxes), most accountants and tax preparers don't have all the time needed to devote to each individual client. This means that they could overlook some crucial tax credits or tax deductions that you qualify for. By obtaining a tax extension, your accountant is granted extra time to handle your tax situation and ensure that you’re claiming every tax break for which you are eligible.
Long Hours and Less Sleep Mean More Potential Mistakes
Even bus drivers are required to sleep eight hours a night ― but your accountant is not. During the rush of tax season, many accountants get pushed to the limit and end up working eighteen-hour days. A lack of sleep and concentration can mean that they’re more likely to make errors on your tax forms. Avoid potential mistakes by getting a tax extension, allowing for plenty of time to double- and triple-check your tax return.
April Filing Can Cost You More Money
Many accountants and tax preparers charge higher rates for last-minute filing, in order to discourage people from waiting until the eleventh-hour. This is done so the accountant can avoid an unmanageable workload during the last few days before tax returns are due. If you have procrastinated on getting your tax materials together, you could pay for it… unless you file for a tax extension.
Why Get In Line Behind Everyone Else?
If you are filing your taxes at the same time everyone else is, you're likely going to be further down on your accountant's list. You may end up spending a lot of time waiting for appointments and returned phone calls. And if you miss one… it may be near impossible to find another opening. Separate yourself from the herd and get a tax extension, giving you and your accountant more time to prepare.
No One Is Fond of Tax Season
Your accountant may make most of their money during tax filing season, but that doesn't always put a smile on their face. March and April are the most stressful and chaotic times of year in this profession, and clients might have to deal with an overworked, cranky tax preparer. Have a more relaxing spring and request an extension of time to file your income tax return.
This year, consider giving yourself and your accountant a break. You don’t even need an account to help you request a tax extension from the IRS. Simply file your personal tax extension or business tax extension online using the FileLater system, and call your accountant in the early fall.