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Tax Extension Info Appointment Preparation

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March 26, 2024

What Does An Extension Mean for Me?

Phelps Tax Wichita KS Tax Extension 2024

 

What Does An Extension Mean for Me?

  1. An Extension gives you an extra 6 months to file your Tax Return. (Moving the due date from April to October)
  2. An Extension eliminates the potential of a late filing penalty assessed by the IRS as long as you file by your extended due date.
  3. An Extension does *not* change the due date for any tax you owe. The due date is still April 15th this year. (Otherwise, everyone would file one to put off paying)
  4. If you have a refund when you file your return on an extension, the IRS will pay you interest on your refund from the due date to the date you filed.
  5. If you have a balance due when you file your return on an extension, the IRS will assess a late payment penalty and interest from the due date to the date you filed.
  6. We will file your extension for Free. If you expect to owe (and you are able), it is a good idea to pay an estimate of your balance due with your extension filing. Please contact our office prior to your extension filing and we will discuss your payment options.
  7. We WILL NOT file extensions for non-clients.
  8. IRS WILL NOT accept requests for extension if you have any unfiled tax returns for previous years.
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To schedule an appointment with Phelps Tax + Financial, you may contact us by phone at (316) 262-1900 or make an appointment online.

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