Many people have April 15th entered into their consciousness because it is thought of as “Tax Day.” However, October 15th may sneak up on them when they have asked for an extension on filing their income taxes. You must pay an equal amount of attention to your income taxes, even when you do not have to file them on the standard day. October 15th may be here before you know it.
If you owe taxes to the IRS, you would need to pay even more in interest and penalties if you miss the October 15th deadline. In addition, the IRS would view your taxes as very late, and it may prompt them to ask even more questions if they have them.
This is the time to contact an experienced professional who can answer tax-related questions for you. Tax professionals have similar rushes in October to the one they experienced in April. It takes some preparation to be ready for taxes, and this is work that you should be doing now. Otherwise, you may be left with a short period of time, and you may be more likely to make mistakes.
There is nothing that says that you must wait until October 15th to file your taxes. If you have received an extension from the IRS, you can file them at any time. If you are due money in a tax refund, there is no reason why the IRS should have their hands on your funds for any longer than necessary.
Contact a San Francisco Tax Attorney Today
The attorneys at SF Tax Counsel Work with you on every stage of the tax process, answering your questions and helping you prevent issues. To learn more about how we can help, call us today at 415.398.3990 or send us a message online.
Written By Anthony Diosdi
Anthony Diosdi focuses his practice on international inbound and outbound tax planning for high net worth individuals, multinational companies, and a number of Fortune 500 companies.
