Myth:<\/p>\n
The IRS and state you live in charge a fee for filing tax extensions.<\/p>\n
This is not true.<\/p>\n
Extensions are one of the most misunderstood tax topics.<\/p>\n
Here is how I would best sum up extensions in one sentence:<\/p>\n
Extensions give you the ability to file your actual tax returns at a later date, but the deadline to pay the tax you owe is NOT extended.<\/p>\n
And that makes sense – if the money wasn’t due now, why would anyone pay it?<\/p>\n
So, if your accountant tells you that you need to make a payment with your extension, it’s not because there is a fee attached to the extension.<\/p>\n
The extension is “free”; you’re just paying the amount of tax you estimate you owe.<\/p>\n","protected":false},"excerpt":{"rendered":"
Myth: The IRS and state you live in charge a fee for filing tax extensions. This is not true. Extensions are one of the most misunderstood tax topics. Here is how I would best sum up extensions in one sentence: Extensions give you the ability to file your actual tax returns at a later date, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n