© 2019 Daggert Financial

To Extend or Not to Extend? That is the Question

April 2, 2017

So it's April 1st and it's happened again, despite your best efforts.  You told yourself you wouldn't put off getting your tax return filed until now, but here it is - the filing deadline is only 14 days away.


So you frantically start calling CPA firms or trying to find that elusive copy of TurboTax.  The CPA firms offer to help, but only if you agree to file an extension. Perhaps you try H&R Block or Liberty Tax, but they seem expensive for a result you may not be confident about.  Or perhaps you go straight to TurboTax, but you owe more than you expect and you have this nagging feeling you've missed something.

 

We've all had the experience of thinking that we do our best work when under pressure.  Do you remember that paper in English class, or the science project you put off?  You cram to get it done, turn it in and get a passing grade.  But when you look at it later, you realize it didn't reflect your best work?

 

So my advice - whether you prepare your return yourself or hire someone to prepare it for you, file an extension!  

 

No it won't increase your risk of being audited.  It will however greatly increase the quality of the product prepared, generally increase your tax savings and will certainly noticeably improve the tax planning, advice and communication you will receive from your tax professional.

__________________________________________________________________________

Do you need to file an income tax return extension?  You can find the federal form

can be found at...

 

https://www.irs.gov/pub/irs-pdf/f4868.pdf

 

The payment needs to be postmarked by Tuesday, April 18th.

 

Most states have automatic extensions and you only need to file and extension if you are making a payment.  Check with your state taxing authority (their websites have tons of information) for more information.

 

Or contact me and I can file one for you and then we can meet for after April 18th!

 

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