Time is not on your side if you have not yet filed your 2012 taxes, as Monday, April 15th is the fast-approaching deadline.
In fact, as of the date of this post, only 5 business days remain. So unless you plan on filing for an extension, you could find yourself in the cross hairs of the IRS and possibly some face some fines, penalties, or worse.
As humans, we all have those bizarre, unexpected or difficult times in our lives which seem to occur at precisely the wrong time (like losing your W2 or even just needing time to consult with a tax specialist). For that reason, the IRS allows the option of requesting a six-month extension.
Form 4868 is the document you’re going to need in order to extend the deadline by six months. You can access the 4868 at the IRS’ Web site as well as a variety of other helpful resources. If you’re doing the math, that’s going to make your new deadline October 15, 2013 to file a tax return. However, to avoid any possible penalties and interest, you’re still going to need to pay your taxes by the April 15th deadline. The extension doesn’t push back the date that any money is due to the IRS (if it appears that you owe money).
If filing after October 15th, you’ll need to mail in your tax return for processing.
Important: this extension is for filing personal tax returns. If you’re a business owner in need of professional tax help or if you have questions about filing this year, contact Padgett Payroll Services. To avoid a dreaded audit, and to ensure you’re taking advantage of all the possible deductions you’re entitled to, their seasoned tax specialists can provide the guidance you need in order to make sure everything is being filed correctly.
Padgett also offers the following services:
- Contract payroll outsourcing
- Employee payroll
- Direct deposit
- Workers’ compensation
- Payroll tax filing
- Payroll withholding
- Online payroll entry
- IRS form 941 filing
For more than 40 years, Padgett Payroll Services® has been a partner for business owners in all kinds of industries. Our Payroll Specialists serve their clients from more than 400 offices all over the United States and Canada. Let Padgett handle your company’s bookkeeping, tax preparation, financial planning, payroll and financial reporting needs. Call us today at (706) 548-1040.