68. Filing an Extension For Your Tax Return? Here's What You Should Know!
Episode Highlights
0:00 - Tax Return Extension and Penalties
13:34 - Tax Penalty and Interest Information
17:23 - Tax Payment Strategies and Options
20:59 - Extension Questions Answered on CPA Podcast
Episode Summary
Do you need more time to file your tax return this year? If so, don't forget to file an extension to reduce penalties!
In this episode, you'll learn the ins and outs of tax return extensions.
We dissect deadlines for all tax return filings and the penalties assessed if you do not file on time and/or do not file an extension.
We also talk penalties and interest—because if there's anything less exciting than watching paint dry, it's watching your hard-earned cash wash away to the IRS. But fear not! We've got your back, breaking down how the IRS penalizes those who file late and those who forget to file an extension.
And if you're staring down a tax bill that looks more like a phone number, don't panic! We cover the IRS payment plan and why it beats the ostrich strategy (aka burying your head in the sand) every time. So, sit back, relax, and let us guide you through all the details you need to know about filing an extension for your tax return!