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Small business and startups advice

Tax Tips for Individuals

Filing Deadline and Payment Options

Date: 10/2/2013

If you're trying to beat the tax deadline, there are several options for last-minute help. If you need a form or publication, you can download copies from the Forms page on our website. If you find you need more time to finish your return, you can get a six month extension of time to file using Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. And if you have trouble paying your tax bill, the IRS has several payment options available.

The extension will give you extra time to get the paperwork to the IRS, but it does not extend the time you have to pay any tax due. You have to make an accurate estimate of any tax due when you request an extension. You can also send a payment for the expected balance due, but this is not required to get the extension. However, you will owe interest on any amounts not paid by the March 15 deadline, plus a late payment penalty if you have paid less than 90 percent of your total tax by that date.

If you are not using Heemer Klein & Co. CPAs for tax preparation, you might not be getting all of the money back you deserve. Contact us through our contact form, or visit us in Warren, Michigan, or Richmond, Michigan.