- #Irs online 2016 tax extension request for free#
- #Irs online 2016 tax extension request software#
- #Irs online 2016 tax extension request professional#
#Irs online 2016 tax extension request for free#
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#Irs online 2016 tax extension request professional#
“Nothing is more frustrating to a tax professional than going to them one to two days before the deadline and asking for an extension payment calculation. “Reaching out 15 days out allows them to get your extension payment calculated early enough to let you know and gather the cash,” he says. Start working with your tax preparer, a CPA, Enrolled Agent or a tax attorney at least 15 days before the tax deadline to get the extension payment calculated. This can cause either a delay in processing or it could not be processed at all, which will cause you to have a failure to file penalty (a penalty of 5% per month), so make sure it is mailed to the correct place,” Matthews says. “Sometimes people accidentally send to the wrong place. If you are filing a paper return extension, make sure you mail it to the right address. “People extend for all kinds of reasons and the IRS permits it.” “In my 20 years of working on taxes, I have not seen significant evidence of this,” he says. Read More: Do I Need To File A Tax Return?Īnother major misconception is filing a tax return extension will increase the chance of the return being audited, Matthews says. “It is clearly stated by the IRS on the instructions and their website that an extension of time does not provide an extension for paying the taxes.” “This can be a common mistake people encounter, but the tax filing extension is just that, a filing extension, not a payment extension,” says Daniel Fan, managing director, head of wealth planning at First Foundation Advisors, an Irvine, California-based financial institution. In 2021, most taxpayers must make their tax payment by the original filing deadline of May 17-even if they file for an extension.
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