I am offering free filing of tax extensions now through the April 17 tax filing deadline, Terrence Rice,
CPA, announced today.
On average, more than 10 million taxpayers applied for an extension on their taxes each of the past few years, avoiding the 5 percent monthly penalty for failure to file. Rice noted that the extension gives taxpayers an extra six months to file a tax return, making the new filing deadline Oct. 15. If there is a balance due, Rice will help taxpayers understand their payment options.
The additional two days to file won't have an effect on some taxpayers, though. Taxpayers who reside outside of the country (including members of the military) routinely receive an additional two months to file their tax returns, making their deadline June 15 this year.
Filing a tax return when in a rush can lead to taxpayers making mistakes that may cause them to pay more in taxes than they actually owe, said Rice.
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