For all of you who filed for a tax extension back in April, it is now literally time to pay the piper. According to the IRS’s own numbers, over 11 million Americans have found themselves filing for a tax extension. And many of them will need the services of a bookkeeper or accountant to help them.

The reason October 15 is so important is that it is the last day to submit tax returns to avoid a monthly five percent, late-filing penalty on balance due, which can get hefty even if you don’t owe a lot. It is also the end of the six month deadline in which to avoid further interest and penalties.

Another good reason to file before October 15 is to get a look ahead at your 2013 taxes and make adjustments now – such as setting up a corporation – to maximize your deductions and returns in the coming season.

If you are behind in filing and unsure of what to do, contact a bookkeeper or accountant immediately to figure out how best to minimize any amounts due or looming amounts due. If in the Houston area, give us a call at 281-894-6494 to set up an appointment.

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2 thoughts on “Deadline to File Tax Extension 2012

  1. Borrowing from a pension is a bad idea for regalur people and should be illegal for businesses and governments.I live next door in Canada and your governments’ financial indecisiveness is messing with the world’s financial stability. Can you tell them to get it together? I thought that once the election was over they would work together and get down to business but instead the Republicans seem to be starting the run up to the next election.

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