If you know you’re going to need more time to file your 2016 tax return, it’s a good idea to go ahead and file for an extension now. Doing so will give you an extra six months to complete and file your income taxes with the IRS. But it’s important to note that an extension does not grant you additional time to pay your taxes! April 18 is the deadline for most to pay taxes owed. If you miss this deadline, you will be responsible for penalties and interest charges on any amount not paid.
Filing an extension is pretty straightforward. As long as you complete Form 4868 the IRS will grant you an automatic 6-month extension. But don’t wait to get started! We’ve seen too many clients put their tax prep on the back burner after requesting an extension and then find themselves under pressure to make the October file deadline.
Taxes can be overwhelming, and that’s part of the reason many people put them off. Our job is to make the process simple for you. When you work with us on your tax prep, we do the heavy lifting and ensure your file is on time and accurate. Call us at (913) 888-9100 for a meeting. We can sit down together to review your situation and let you know the documentation we need to complete income taxes for you. We can file your extension as well.
Richard Adams is a graduate of Benedictine College in Atchison, Kansas, with dual majors in Accounting and Business Administration. He is also a graduate of Wentworth Military Academy in Lexington, Missouri.