This is just a reminder that we are at the half way point for individual tax extensions.
As you know, individual tax returns were due on April 17th. However, the IRS allows a taxpayer to file an automatic extension of time to file until October 15th. Well, believe it or not, we only have about three months until these returns are due. There are no extensions beyond the October 15th date, so it is critical to get the returns filed and avoid any potential penalties.
Also, don’t forget that calendar year business income tax returns returns (including corporations, S corporations, partnerships and trusts) that were extended have until September 15th to file their returns. Once again, there are no extensions beyond this date.