Sunday, April 12, 2015

Why You Should Ask for a Tax Extension - We can help you file it for free

 Do you plan to spend the weekend cozying up to your tax forms?
With tax day looming, you may be considering filing an extension if you aren't quite prepared. If so, here are some things to think about.
First, if you need more time, you still have to file the extension paperwork by April 15. Tax form 4868 gives you an extra six months.
If it's just a matter of getting together some extra cash, you can go ahead and file while requesting a few extra months to pay. You will be hit with fees, but smaller ones than not filing.
And even if you do get an extension, you still need to make a payment if you think you owe money to avoid a monthly charge for late payment.
Remember, just ignoring tax day won't make it go away and it can cost you real money. Failure to file can cost you between 5 percent and 25 percent of what you owe.
And if you are in a bind, you may want to consider using plastic to pay. The fees on your credit card will likely be lower than penalties from the IRS.