{"id":27010,"date":"2022-04-12T15:55:24","date_gmt":"2022-04-12T15:55:24","guid":{"rendered":"https:\/\/c1mdevsite.com\/braunability.com\/tax-deadline-is-april-18th-need-more-time-file-for-an-extension-today\/"},"modified":"2022-04-12T15:55:24","modified_gmt":"2022-04-12T15:55:24","slug":"tax-deadline-is-april-18th-need-more-time-file-for-an-extension-today","status":"publish","type":"post","link":"https:\/\/c1mdevsite.com\/mdctraining.ca\/tax-deadline-is-april-18th-need-more-time-file-for-an-extension-today\/","title":{"rendered":"Tax Deadline is April 18th\u202f\u2013 Need More Time? File for an Extension Today!\u202f"},"content":{"rendered":"
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More than\u202f<\/span>30% of American taxpayers<\/span> file their taxes last minute. Are you one of them? If you are, this is it- the last minute. Taxes are due by April 18th. Luckily, the IRS allows for an extension in some cases, but even that extension request is due by April 18th.\u00a0<\/span>\u00a0<\/span><\/p>\n

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If just the thought of this is making you uneasy, <\/span>reach out to us<\/span><\/a> at Waters Hardy today. We are your tax pep lifeline. Specializing in tax planning and compliance, we are here to guarantee that you are fully informed and filing your taxes in a secure and smart way. Even if that means filing a tax extension this year.<\/span>\u00a0<\/span><\/p>\n

What is a Tax Extension?<\/span><\/b>\u00a0<\/span><\/h2>\n

\u00a0<\/span>Simply put, a tax extension gives you six extra months to file your taxes. So, instead of having your tax return due on April 18th, you extend your due date to October 17<\/span>th<\/span>,\u00a0 2022.<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/span>IMPORTANT <\/span><\/b>\u2013 An extension does not buy you more time to pay your taxes. Filing an extension only helps you avoid big failure-to-file penalties. If you owe taxes, they\u2019re due on Tax Day! So, if you don\u2019t pay by Tax Day, you\u2019ll rack up late-payment penalties and interest.\u00a0<\/span>\u00a0<\/span><\/p>\n

Who Should Consider Filing an Extension?<\/span><\/b>\u00a0<\/span><\/h2>\n

\u00a0<\/span>The extension is especially important only if you <\/span>owe <\/span><\/b>taxes and are not ready to file by the April 18th deadline.\u00a0 If you know that you\u2019ll be getting a return from the IRS, then there is no urgency in filing your taxes by the deadline. You\u2019re simply delaying getting your money back. Unfiled or unclaimed tax returns are acquired by the IRS after three years, so don\u2019t forget about your taxes.\u00a0<\/span>\u00a0<\/span><\/p>\n

Reasons to File an Extension<\/span><\/b>\u00a0<\/span><\/h2>\n

\u00a0<\/span>Filing an extension should not be the first option to consider when filing your taxes.\u00a0 It was created to help people avoid some of the harsher penalties and late fees. It\u2019s also an option for individuals who can\u2019t meet their deadline for whatever reason. Here are a few examples of why someone would need to file for an extension.\u00a0<\/span>\u00a0<\/span><\/p>\n

1. You are missing some of the documents you need.<\/span><\/b>\u00a0<\/span><\/p>\n

The effects of the pandemic are still rippling through every facet of our lives, even tax preparation. There are a lot of different documents that need to be reviewed and considered when filing taxes. Since things are working at post-pandemic speed, some of these documents are not getting to taxpayers on time.<\/span>\u00a0<\/span><\/p>\n

2. You\u2019ve gone through an unexpected life event this year.<\/span><\/b>\u00a0<\/span><\/p>\n

If life has thrown you an unexpected curve ball and you\u2019ve gone through a difficult situation, don\u2019t add to your stress rushing to meet a deadline.\u00a0 File for an extension. <\/span>It\u2019s better to take your time and get your tax return right, rather than rush and end up having to amend your 2021 return later.<\/span>\u00a0<\/span><\/p>\n

3. Your tax situation is especially complicated, and you just need more time.<\/span><\/b>\u00a0<\/span><\/p>\n