The Extension Deadline is Here!


          Every year, there are many Taxpayers who ask for a 6-month extension to file their Federal Tax Return. This year, that deadline is fast approaching on October 16. For those who are filing a Tax Return this month, here are a few points to keep in mind.
          It may seem to be very obvious, but make sure your Tax Return is filed on time. If one files late, after being given an extension, there are penalties and fines that will result. These can be avoided by simply filing on time. For those who know that they will owe, they should pay as much as possible to avoid more penalties and interest. A Qualified Tax Professional can help you to see how much you will owe and go over your payment options. Those who have an extension, and have been effected by disasters like earthquakes and hurricanes, will normally have more time to file.
          When filing, it is considered wise to keep the Tax Return and supporting documents for at least 3 years. In the event of any IRS inquiry, providing documentation that they normally ask for will be relatively simple. This will also simplify the task of filing the Tax Return for following year. As always, keep your sensitive personal information in a safe place.

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