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Don’t Delay: File An Extension On Your Taxes If You Need One

change in piles Regarded as one of the most often quoted statements, Benjamin Franklin once said: “Nothing is certain except death and taxes.”

As the deadline to file your 2012 taxes steadily approaches, you can add April 17th to the list of looming events you can expect to be certain as well. That is, unless you plan ahead and file for an extension.

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, 2012 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 17th deadline. The extension doesn’t push back the date that any money is due to the IRS (if it appears that you owe money).

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 BUSINESS SERVICES® has been a partner for business owners in all kinds of industries. Our business 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, and financial reporting needs.

Do you have the support you need to manage your small business bookkeeping? Contact us to schedule an appointment to speak with a local small business advisor.

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