If you filed an extension on or before April 18, 2016, you were granted six more months to get your paperwork to the IRS. However, this does not extend the time you have to pay any taxes due. It’s important to have paid any monies owed on time. Neglecting to do so will result in interest due on any amount not paid, and potentially penalties as well.
The option to file an extension is important, as sometime life circumstances need this grace period. With that in mind, you don’t want to find yourself behind the eight ball when October rolls around. If you have an extension, you still need to work on getting your tax information to your preparer. Get in touch with them this week and set a schedule to ensure you meet your new deadline.
Not sure where to start? Give us a call. We know tax preparation can be stressful and overwhelming. We’re available to meet with you to put a plan in place to get you on track to complete your 2015 file quickly and to set you up for an on-time filing for 2016. You can reach us at (913) 888-9100 to schedule an appointment.
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.