Tax Tips: Filing a Tax Extension
Many people have trouble getting their income taxes done by the filing deadline.
FOX’s Linda Bell has some advice for those folks. as we continue our series on “Tax Tips”:
Filing an income tax extension.
I’m Linda Bell with your FOX News Radio Tax Tip.
If you can’t meet the April 18 deadline to file your federal income taxes, the simplest way to request a six-month extension is by using the free file link on IRS.gov.
Eric Green, partner with law firm Green & Sklarz says you must make the request by the regular due date of your taxes:
(Green) “The failure to file penalty is five percent a month, cast the 25 percent. By the time October rolls around, you’ve already got 25 percent added to your bill.”
Get confirmation your request was received to avoid any penalties:
(Green) “If you do it through the software, you get a confirmation back. If you’re going to mail it, mail it certified.”
Remember this is a request for an extension to file the return, not an extension to pay the taxes due. Interests, penalties and late fees will accumulate until your return is filed.
For more Tax Tips, go to FOXNewsRadio.com.
I’m Linda Bell with the FOX Business Network.
