Last Minute Tax Tips and Last Minute Tax Payments
Are you are up against the April 18, 2017 deadline and still need some information to complete your tax return, here are some last minute tax tips. Keep in mind these tips will help you also address last minute tax payments.
Filing an extension
To start, you can obtain a six-month automatic time extension to file your 1040. The filing extension will give you extra time to get the paperwork together, but it does not extend the time to pay any tax due. You have to make an accurate estimate of any tax you’ll owe. You must pay at least 90% of what you owe when requesting an extension. Interest will be accumulate on any amounts not paid by the April deadline.
Extension is for Filing, Not Paying Any Tax Due
If your return is done but you are unable to pay the tax due, do not request an extension. File your return on time and pay as much as you can. The IRS will send you a bill or notice for the balance due and will charge interest and penalties only on the unpaid balance.
If you cannot pay the full amount due with your return, you can ask to make monthly installment payments for the full or partial amount by requesting an installment agreement.
The foregoing is only an overview of the options available to you and discusses the problems that may arise if you don’t file and pay your tax by the April 18, 2017 due date.
File for an Extension Before April 18, 2017
If you are unable to file or pay on time, it is important to contact this office prior to April 18, 2017 so you can take the appropriate steps to mitigate penalties and interest. We can help you file your tax information accurately and in a timely manner. Currently, we are offering new clients an Extension Discount of up to 15% Off!*
Call Alex Franch, BS EA a call at 781.849.7200 for details. Alex Franch is an enrolled agent with the IRS. Call right away so that we can schedule an appointment and/or file an extension, if necessary. You are welcome to meet with someone from our tax team, or you may also book your appointment online.
If this office is holding up the completion of your returns because of missing information, please forward that information to us as quickly as possible so that we meet the April 18 deadline. Please keep in mind that the last week of tax season is very hectic. Unfortnately, waiting until the last minute, means your tax returns will miss the tax deadline. Do you expect that the tax information will not be available in time for the April 18 deadline? Let our office know right away. At the very least, we can prepare and file an extension request, and the 2017 Estimated Tax Vouchers if neccessary.
Oh, and we have an incentive for you. Drop off or mail your taxes to one of our three locations in locations in Quincy, Weymouth and Dedham an you will save $35 on your tax preparation click here for details and other incentives. Please note some exclusions may apply.
Tax Fraud Sources and Resources
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- Top 6 Tax Scams List for 2017
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