Need to File A Tax Extension?

Need to File A Tax Extension?

By : -

Need to File A Tax Extension?

The deadline for having your tax returns finished and sent in is less than a month away! April 18th will be here before you know it – are you ready? If you’re looking ahead to April 18th and you just know there is no way you will be able to get your taxes finished by then, you may need to file an extension. There are many reasons why an individual may need to file an extension. Whatever your reason, if you need to file one, now may be the time to start the process. There are several benefits to filing a tax extension. Let’s take a look at what those benefits may be:

More Time – If you are just overwhelmed with other things in your life and you know that you will not be able to complete your taxes by April 18th, a tax extension will give you the ability to have 6 more months to file. It will also help relieve the stress you may be experiencing trying to complete them in time.

Saves You Money – It’s important to file an extension if you aren’t going to meet the deadline for the simple fact that it can save you money! If you don’t file an extension, you are subject to penalties. The failure to file penalty can cost you up to 25% of taxes due. Something to keep in mind, if you are simply filing an extension because you know you owe taxes, an extension will not help you. You will still need to pay your taxes by the April deadline. If this is true for you, instead of filing an extension, why not just set up a payment plan to pay your taxes off over the year.

It’s Easy – Filing a tax extension is as easy as one, two, three – and can be filed electronically! To file for individuals, simply fill out Form 4868. For businesses and corporations, fill out Form 7004. If you need any assistance, don’t hesitate to reach out to us at 610-775-9216 or amazzoaccounting@comcast.net.

When it comes to taxes, it’s something as Americans we have to do so instead of ignoring them completely and then potentially having to pay more penalties or worse, complete your taxes, or give us a call and have us complete them for you – or if you need more time, simply file an extension!

A Mazzo Accounting provides a variety of tax and accounting services to individuals and businesses in the Wyomissing, Reading, West Reading, Sinking Spring and Kenhorst areas, as well as towns and villages around the Greater Reading area. Our services for small to mid-size businesses include taxes, payroll services, accounting services, and bookkeeping services. We also provide a variety of services for individuals and they include tax return preparation as well as some accounting assistance.