Need more time to file your taxes? File a tax extension! Every year you know your personal or business tax returns need to be filed by a certain date. However, we all know time moves faster than we need it too, so what do you do when you are unable to file taxes by the deadline? Chicago CPA Michael Caramagno help you understand how to handle a tax extension step by step!
You may need to file a tax extension, if the volume of data or complexity of certain transactions (e.g., sale of a rental property) on your return requires additional time. Additionally, the amount of time remaining in filing season is limited for the CPA to complete client returns by the deadline due to late information received from numerous clients. As well as, our firm having a “cutoff” or deadline for clients submitting their tax information so they can plan their workload to ensure all client returns and extensions are completed by April 15.