What to Do if You’re Thinking About Filing for a Tax Extension

by | Apr 18, 2016 | Business

Image courtesy of everydayplus at FreeDigitalPhotos.net.

By Sam Foltz, Foltz & Associates Certified Public Accountants.

Taxes are due Monday, April 18, 2016.

If you’re not going to finish your tax return on time, file for an extension. You’ll have six more months to complete your return, putting the due date at October 17, 2016, for most calendar year taxpayers.

Even with an extension of time to file, the deadline to pay taxes owed and avoid penalty and interest charges is April 18. The extension form will ask you to estimate what you owe.

Extension forms are available by filing status – individual, business and more. Individuals can e-file their extension form for free under Free File. Look for “Free Extensions for Anyone.”

Special rules may apply for those serving in a combat zone or a qualified hazardous duty area, or living outside the United States.

For more information, visit this IRS webpage: Extension of Time To File Your Tax Return

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