When to File a Tax Extension — And When Not To
The April 15 deadline is not a suggestion. But if you are not ready, a tax extension is not a failure. It is a strategy. You should consider filing an extension if: • You are still waiting on critical documents (K-1s, corrected W-2s, brokerage statements) • Your tax situation changed significantly this year (new business, property sale, inheritance) • You need more time to maximize deductions and minimize liability • You would rather file accurately than file fast You should NOT file an extension if: • You are expecting a refund — every day you delay is a day your refund sits with the IRS • Your return is straightforward — one W-2, standard deduction, no complications • You are avoiding the process — that feeling will not change by October • You have all your documents ready An extension gives you until October 15, 2026 to file your return. It does not extend your payment deadline. If you owe, estimate and pay by April 15 to avoid penalties. Filing an extension is free. Filing incorrectly costs you. Schnoldine Lynn Joseph, EA, helps clients make the right call every tax season. 📞 JRICKSS Financial Services (844) 200-8027 | (973) 392-2785 🌐 book.jrickssfinancialservices.com
