News / Article

Cut IRS Audit Risk, Extend April 18 Tax Deadline To October 16

Source: forbes.com - Apr 7, 2017

This year, tax returns are due April 18, not April 15. But those few extra days won't matter to many. Instead of rushing to file your taxes, you can go on extension, but should you? If you do succumb to the allure of an extra six months, do you increase your odds of audit, decrease them, or are they the same? Few deadlines are more dreaded than the annual rush to April 15th (well, 18th this year). You may not want to delay it. You may even feel guilty if you take advantage of an automatic six-month reprieve.

There’s no shame in an extension, and millions are processed every year. Everyone with an April 18 deadline can get six extra months by filing (electronically or by mail) a tiny form that doesn’t even require a signature. You need to pay what you owe--the extension is to file your return not to pay--but there are good reasons to take the extension.

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Category: General Business