Individual Extensions

If you filed an extension for your 2020 taxes, the deadline is approaching quickly and is on Oct 15th this year, as normal. Some common reasons why taxpayers file an extension are:

• Needed more time to find a qualified tax professional
• Waiting on K-1s or other types of documents

• Apprehensive to find out tax balance & wanted to postpone the inevitable
• Many others

Please remember that if you owe tax, it was due back in May of this year & any payments for 2020 after May 17th are subject to additional failure-to-pay penalties. For this reason, it is critical to have made a reasonable, conservative estimated tax payment to prevent having your extension invalidated by the IRS.

If you have made appropriate payments (or know you don’t owe), it is still a good idea to get finished with your extensions right away. The reason for this is most established practitioners will run out of capacity for new (or even existing) clients as we approach the final days to the deadline. 

In either case, please contact us using the form below if you needed assistance getting your extended taxes filed on time. You can also call the number below 7-days a week.