Thursday April 14, 2022 – Tax Season is coming to a close. Your tax return must be filed (or postmarked) by April 18, 2022. Every year, a large portion of taxpayers ask for an extension.
Here are some things you should know about an IRS extension. First, extensions are automatic, as long as you file a request with the IRS before the deadline. Next, even you get an extension, the extension is only an extension of time to file the return – not to pay any tax that is due.
That begs the question: how do I know how much to pay the IRS if my return hasn’t been completed? The answer is – you won’t know. But, you can estimate. And you should estimate on the high side if you want to avoid any penalty. If you overpay you will receive a refund – like most Americans.
Attorney Steven A. Leahy reviews tax return extensions AND what you should know about them.
https://www.cbsnews.com/news/tax-extension-file-how-to-2022-04-14/
Steven A. Leahy is a tax attorney in Illinois. He was the host of the long-running popular Radio Show “The IRS Radio Hour” heard every Sunday evening on AM 560 The Answer. Attorney Leahy is also the author of the book “Deal With Your IRS Problems Today!” You can get a FREE copy of this important book at FreeIRSBook.com. Or Call 24/7 (312)664-6649
