Let me start off by saying…WHEW! I AM ALMOST FREE! *Wipes sweat from forehead and sighs while booking my 2-hour massage for April 16th.*
I’m sorry but as much as I love my job, I livvvvveeee for April 16th. I don’t know why the government hasn’t declared it a holiday yet.. Tax season for y’all might be a mild inconvenience or a couple days of getting your ish together. For accountants, it’s over 3 months of nonstop work. So yes, let me take a moment to jump into a praise dance right quick.
Anyway, I didn’t write this to talk about me, but to remind you to file for an extension ASAP if you haven’t completed your taxes yet.
Maybe you need more time to find important tax documents? Or maybe something major happened in your life to distract you from filing on time? Whatever your reason, I implore you to file an extension to avoid getting penalized by the IRS.
Remember, filing for an extension by April 15th does push your deadline to October 15, but it does not extend your deadline to pay your taxes. So if you think you might owe money, you need to estimate how much you might owe and pay that tomorrow. It’s better to pay something now to avoid maximum penalties later.
You can file for an extension electronically (highly recommended) using free systems like TurboTax or Free File.
So file for it right now. I’m not kidding – this the last possible moment to do it before you forget so why wait??
If you need to request state tax extension, check with your state authority about deadlines and mailing addresses. Some states grant extensions automatically simply by filing the Federal extension (us Cali folks are covered woot woot).
To more money in our pockets,
P.s. Don’t beat yourself up if you didn’t get to your taxes yet, just make sure you pay what you need with the extension so you can avoid paying penalties later.
P.p.s. To avoid tax filing procrastination in the future, in make sure you join my super cool Facebook group. You will meet other amazing entrepreneurs and receive important tax reminders/tips. We also are super encouraging – it’s like a support group every Boss Woman didn’t know she needed.