Today is the deadline. You have until midnight tonight to file your taxes. The question were asked every year (usually around 9pm) is, “We just realized that we need to file our taxes…What do we do?”
The answer is to file an extension. If you are our client, we can file Form 4868 electronically for you. Otherwise, print the form up, and mail it, using certified mail, return receipt requested. Spend the extra $4.25. (For a story on what happens when you don’t spend the money, see Joe Kristan’s report on why you spend the money here.) Many post offices now have automated machines that can do certified mail; look for the “Automated Postal Center” (or similar verbiage).
Remember, an extension is an extension of time to file, not pay. So make an estimate of what you owe and send it with your extension. If you don’t file an extension, you’re subject to the failure to file penalty (5% a month up to 25%), so even if you don’t pay anything with your extension it’s well worth your time to file it.
Don’t forget to file an extension for your state taxes, if your state requires it. California does not require an extension to be mailed (the extension is automatic); however, many states do require an extension to be filed.
This year, for both the IRS and California, an extension is for six months. You have until October 16th (the 15th falls on a Sunday) to file your taxes if you file an extension.
If you’re out of the country working, you have an extra two months to file and pay your taxes to the IRS, until June 15th (not June 17th). You need to attach an explanation to your return stating that you were out of the country, and why (work).
Finally, if you call our office today wanting to schedule an appointment to do your taxes today, it’s not going to happen. Like most tax preparers, we wouldn’t be able to do an acceptable job on your return if we started it today.