20 / 48
Filing anextension for your income taxes is apopular
choice for many individuals with large and complex
tax returns, or just those individuals who take a
little bit longer to receive - or in some cases track
back down - all of their tax documentation. It is also
a choice that some tax payers with larger liabilities
like to utilize in hopes of having extra time to pay
their liabilities. I have clients that call me every year
and say “I just know I’m going to owe this year, so
let’s just file an extension until I have the money.”
I wish it was that easy but, unfortunately, it’s not.
The most important thing to know is that filing an
extension does
not
extend the time to pay your
taxes. Extensions only provide you with extra time
to file the tax returns. Rather than the normal
filing due dates, March 15
th
for corporations and
Tax Extensions are Running
Out Soon, Are You Ready?
By Tina Moe, CPA
SOAR TO SUCCESS
/
S
eptember
2016
/
Core Business Strategy