If you are like many this year, tax season came very quickly. The year is going very quickly for that matter, but tax season has a few deadlines. If you are not ready to file your taxes, no worry, we have you covered.
Time to File an Extension
Form 4868 automatically extends your filing deadline to October 15, a full six months. Here is the link to the form. It is easy, automatic and gives you ample time, hopefully to get the tax document ducks in a row.
But what’s the catch?
There always has to be a catch, sorry. If you owe additional taxes, try to make a very good estimate and maybe even cushion it a little bit. If you file an extension and owe additional taxes, there will be tax penalty blood!
Bottom line, make sure you pay enough in to cover your liability, if applicable. By the way, don’t wait until October to get your extended returns in, get them off your plate as soon as possible, it will make you feel better !
Saying goodbye to this tax season is VERY welcome, it was a toughie that we will be reviewing later on, based on government reports. Our bet, we broke an all time record for tax revenues !
Have a great day!
John A. Kvale CFA, CFPhttp://www.jkfinancialinc.com http://www.stree-cents.com 8222 Douglas Ave # 590 Dallas, TX 75225