If you will not be able to or do not want to file your tax return by April 15th, the IRS will grant a 6 month extension of time to file until October 15th. Notice that this is an extension of time to file the return, not an extension of time to pay.
The extension request and all taxes owed must be postmarked by April 15th in order for the extension to be approved. We do not charge extra for the preparation of the extension requests.
There are three options for filing an extension:
1. If you do not think that you will owe any additional tax: Your Federal and State extensions can be filed showing no tax due.
2. If you know how much you want to pay with your request for extension: Let us know the amounts you want to pay and we will prepare the Federal and State extensions based on that amount.
3. You would like us to calculate your estimated Federal and State tax liabilities: You need to complete a tax organizer and send it to us no later than April 3rd along with all tax records and documents you have received to date. If you choose to have us calculate your estimated tax payments, we require a deposit of $425 before we prepare your extension. This payment will be applied to the fee for preparing your personal tax return.
Please note that if you end up owing additional taxes once your return is completed, you may be subject to late filing and underpayment penalties plus interest.