Reasons to File Individual Tax Extensions

What exactly is a tax return extension?  Your federal, state and local tax returns are due on April 15th of each year provided that April 15th does not fall on a weekend or holiday.  Tax return extensions are available but not suggested.  If you are one of the 11 million people that file for extensions each year, AberCPA is here to assist you.  A tax return will extend your tax return date by six (6) months, meaning October 15th.  Just because you don’t need a precise reason to file an extension, your life won’t get more easier.  Also, you can file before October 25th so try and do so.   It is absolutely critical that you file your taxes each year.  

Although not recommended, there are certain instances when an extension is necessary.  Scott Aber, CPA has outlined these situations and is happy to help you navigate the extension process while ensuring your tax law compliance.   

There are a few reasons and exceptions that make filing an extension acceptable so let’s review them:

  • You purchased a home, making a delay in tax filing inevitable.

  • You are enrolled in an unemployment program and unclear how this may change your tax filing routine.

  • You had a child in the tax year and working to make sure you are filing correctly.

  • You went through or in the process of a divorce or marriage.

  • You may be a beneficiary of an estate or trust or a shareholder or partner in a pass through entity and just now getting your Schedule K-1.
  • You sold a home or bought a new home and want to make sure you are filing correctly.

  • You purchased a rental property and want to make sure you are filing correctly.

  • You had a foreclosure on your home and need professional advice as to how this should be accounted for.

  • You attempted to file taxes without an accredited accountant and fear that you made some errors.

  • You are a new business owner and need more time to make sure you are accounting for your taxes properly.

  • You are a new American citizen and need concentrated advice on how to file your taxes properly.  

  • You are a deployed armed forces member.

  • You experienced a death in the family.

AberCPA is here to assist you through the complicated tax process.  Please contact us via telephone at (845) 215-5969 or use our online contact form.  We look forward to hearing from you!

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