If I filed an extension with another tax preparer, do I have to file my return with them?
No. In fact, even if you paid for your extension to be filed, Tax Force Inc will credit your return prep for that amount up to $100.*
What if my tax preparer did not file my extension?
Be sure that you have a tax service that pays attention to you.
Can I still file an extension for my 2015 taxes?
No. But if you did not file an extension then time is money. You should not wait for the extension deadline, you should call us immediately! Late filing penalties, as well as late payment penalties, would be actively accruing along with the interest on any outstanding tax liability.
Please note that we have successfully worked in conjunction with the IRS to get our clients, in otherwise good standing, a 1 time abate of penalties and interest for certain tax payers who did not file for an extension. Many tax preparers don’t even know this is possible.
How much is the penalty for not filing an extension?
It depends. Typically you are looking at 2 things: penalties and interest related to late filing, and penalties and interest related to late payment.
Late filing penalties are 5% of tax liability per month or partial month, up to 25% of the total tax liability.
Late payment penalties are 0.5% of the outstanding tax liability per month, up to 25%.
Plus compounding interest is tacked on.
Please note, generally, this means if your return shows you are getting a refund these penalties and interest will not apply, as the tax liability on the due date was zero. Schedule a free consultation now so we can verify you have taken all the deductions possible so as to reduce or eliminate your tax liability as well as those penalties and interest as much as possible.
Is my LLC form 1065 due 9/16?
Even though the original return was due 4/16, the extension is only for 5 months as opposed to 6 months like many others. However, 9/16/16 falls on a weekend so it is actually due 9/16/16.
What is the deadline to file my return if I did file an extension?
Business extension to file:
LLC’s – 1065
Due 9/16/16 if form 7004 was filed for 5 month extension from 4/15/16.
C-Corp – 1120
Due 9/16/16 if form 7004 was filed for 6 month extension from 3/15/16.
S-Corp – 1120S
Due 9/16/16 if form 7004 was filed for 6 month extension from 3/15/16.
Personal tax extension to file:
Individual – 1040
Due 10/15/16 if form 4868 was filed for 6 month extension from 4/15/16.
Decedent – 1041
Due 9/16/16 if form 7004 was filed for 5 month extension from 4/15/16.
First year begins on date of death. First year can be any period of 1 year or less, ending on the last day of the month.