As we head into fall, it’s time for some taxpayers to tie up loose ends from the spring.
For those who filed for extensions on filing their taxes in April, IRS deadlines are creeping up fast.
Business extension taxes are due Sept. 15, while personal extension taxes for individuals are due Oct. 16.
“An extension does not extend your tax liability due date,” warned Amy Peek, accountant and owner of Pittsburgh-based Peekz ConsultiN.
Penalties for missing the deadline are similar to penalties for missing the April 18 deadline without an extension.
The IRS grants most applications for tax deadline extensions, so long as taxpayers file the requests on time and have valid reasons, such as being out of the country or waiting on forms from an employer.
The IRS may deny extension applications when taxpayers owe back taxes, are under investigation or audit, fill out the form incorrectly, among other reasons.
Peekz still has appointments available to assist clients with filing their taxes from 2016.
Book a meeting with Peekz directly on our online SignUpGenius calendar.
Don’t forget to gather all of your tax paperwork and download the necessary forms before your appointment to help the meeting run quickly and smoothly.
PHOTO CREDIT: Max Pixel–CC
Peekz ConsultiN LLC is a Pittsburgh-based accounting firm, located in the West Side, that caters to individuals, small businesses and nonprofit organizations. We aim to empower clients to help them take control of their finances and achieve their dreams.