Tax Extensions

Still need to file your tax return? If you filed for a tax extension, there’s good news. You still can.

Sometimes, no matter how hard you try, you just can’t get everything done by the tax deadline. You can always ask for more time to file your taxes… but, don’t wait until the tax extension deadline to get them in.

Tax extensions have become a bit more popular, especially over the last few years. And if you filed a request (tax extension Form 4868) by the tax deadline… you’ve got 6 months to file your return.

Ready to get started and get your return filed before the tax extension deadline? Our expert team can get your filing in order, checked for accuracy, and help you deal with any potential penalties or situations arising from filing an extended return.

Something you need to consider when filing an extension

An extension to file does NOT mean an extension of time to pay. If you’re due a refund, then you can be on your merry way, but if you owe, then taxes must be paid by the normal tax deadline. Otherwise, you can be charged penalties (to the tune of 5% to 25%) plus interest on those penalties.

Myths about tax extensions…

  • Extensions do not automatically flag you for audit.
  • They do not affect any refund you legitimately have coming.
  • They do not give you more time to fatten up your individual retirement account (unless it’s the self-employed kind).
  • They do not give you extra time to pay taxes that you owe.
  • They’re not hard to get.

Special situations for an extended time to file (and sometimes pay)…

  • Taxpayers serving in combat zones (or combat adjacent)
  • US citizens and resident aliens living abroad for business or military purposes
  • Those living in or providing relief to federal disaster areas
  • If you have questions about any of these special situations (or any other tax extension topic) or need help getting started, we’re here for you.

Let Us Help:

Hiring a Consultant for Your Carthage Business

Remembering and honoring Martin Luther King this week has me thinking once again about being a voice. It’s hard not to get inspired listening to the iconic words of the famous I Have a Dream speech (if you’ve never listened to the entire speech, it’s worth...

Mastering Your Joplin Business Phone Answering

How is your year starting out? We’re into week 2 of 2023 … would love to hear back from you on what are the challenges you’re facing in your Joplin business finances right now.Relatedly, what are your customer service goals for this year?One customer relations tool...

Accepting Crypto Payments in Your Joplin Business

First of all, congratulations on making it through 2022. Pat on the back for sticking with it through the very real ups and the challenging lows. Many of our Joplin clients went through the wringer … others had their best year yet.From a personal standpoint, I think...

7 Primary Tasks For Any Joplin Business Team

I don’t know about you, but after the holidays (and I hope yours were filled with good things and happy times with loved ones), I’m always a bit tapped out on the spending. But in true governmental fashion, Uncle Sam is piling it on. Seems like Congress missed...

Succession Planning Strategy For Joplin Business Owners

The 2022 clock is almost at midnight.An end to a still somewhat crazy year — “the crazy” seems like our new normal, post-2020, am I right? There were a lot of challenges this year and they were … exhausting. Keeping up with the changes and adjusting to the economic...

Jordan’s 3 Big Tips For Entrepreneurs

Ready for some yuletide cheer? No, I’m not just talking about my big tips for entrepreneurs. Inflation might have hit its peak this year. So say the “experts.” That particular category of people hasn’t exactly covered itself with glory of late … so, we’ll see how...

Personal Insurance vs. Business Insurance: 6 Reasons to Consider Switching

When I was the CFO of a company, we made the switch from an insurance carrier that specialized in homes and small businesses to a true commercial insurance company. I talked with my friend, Brent Westhoven at Beimdiek Insurance, about the differences between a...

How Your Accounting Department Should Work

What if you could have an accounting department that was easy to work with? What if you asked for something and got it right away without any hassle? No sighing, no complaining about how hard it will be, just quick and easy. What if you could get reports you wanted...

Two Rules for Business Contracts

When it comes to business contracts, I have two rules. Do not write your own contracts and do not sign a contract that has not been reviewed by a lawyer. Do Not Write Your Own Contracts I used to work with a business manager who thought he was being frugal by finding...

Coronavirus & Your Business

There are three stages to the government’s response: the first was to take care of workers, the second was to get cash to businesses, and the third is still being finalized, but it’s a long-term solution. Taking Care of Sick Humans This was the government’s first...

Ready to come in for an appointment?

Click here to schedule a time to meet with us. We will NOT make dealing with a tax professional as painful as it’s been in the past!

Contact Us

bookkeeping services