Filing a tax extension gives you six additional months to submit your return. It does NOT give you six additional months to pay.
Read that again.
If you owe taxes and file an extension without paying, interest and penalties begin accruing on April 16. The failure-to-pay penalty is 0.5% of your unpaid balance per month, up to 25%.
An extension makes sense when you are waiting on documents, dealing with complex situations, or need more time to ensure accuracy. It does not make sense as a strategy to avoid dealing with your taxes.
If you think you might need an extension, let us evaluate your situation first. There may be a better path.
Schnoldine Lynn Joseph, EA, can file your extension and help you estimate what you owe so you can make a payment with it, reducing or eliminating penalties entirely.
📞 Call (844) 200-8027 today.
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JRICKSS Financial Services
Schnoldine Lynn Joseph, EA — Tax Preparation and IRS Representation
John Clerge — Notary Public, Realtor, Insurance Agent, Financial Restoration Specialist