Extension Filing

If you find yourself unable to complete your 2019 federal tax return by the April deadline (April 15 in 2020 for filing 2019 taxes), you’ll first need to file an extension with the IRS to avoid any potential late-filing or late payment penalties. Filing an extension will allow you to push your deadline back six months to October 15, 2020. It’s important to keep in mind an extension only pushes back the due date for the filing of your tax documents. It does not give you extra time to pay on any taxes you may owe. If you believe you will owe money this year, you’ll need to estimate the amount after filing for an extension and make a payment by the April deadline. Before filing for an IRS tax extension, make sure it’s right for you. Here are a few common reasons why you may need to push your deadline back: More time needed to track down missing tax documents Unexpected life event Life’s been too busy