While the IRS has strict filing deadlines that all taxpayers must adhere to, there are some options for those who need a little extra time to file their taxes. If you think that there may be something that will keep you from filing your taxes by the deadline (April 18 in 2017), you need to file for an extension as soon as possible.
Qualifying for an Extension
There are lots of scenarios in which the IRS will grant you an extension on filing your tax return. Here are a few common circumstances that will qualify you for an extension with no consequences:
- Taxpayer or spouse illness
- Death of taxpayer or spouse
- Taxpayer casualty resulting in lost tax documents
- Extra time needed to self-fund certain retirement plans
- And more!
If you aren’t certain whether your circumstances will qualify you for a tax filing extension, get help from our qualified tax resolution specialists at Tax Resolution St. Louis We can help you file for an extension to ensure you get the time you need to file your return without late filing penalties.
Consider the Costs
If you are thinking about filing for an extension on your taxes, remember that it only grants you extra time to file your tax return. It does not get you extra time to pay your taxes. If you end up owing anything on your return, the IRS will charge you interest and late payment penalties from the original due date. If you suspect you owe tax, you may be better off trying to get your taxes filed—and paid—by the April 18 deadline.
To learn more about your options for tax extensions, don’t hesitate to call on the pros at Tax Resolution St. Louis! We are available to be your tax help resource in St. Louis.