Fix My Finances

It’s that dreaded day for all Americans, or at least those who have to pay taxes: tax deadline day. I’ve been seeing a lot today about how it isn’t a bad thing to file an extension, in fact, some things I’ve read say it can actually prevent you from being audited.

About nine million Americans will file extensions, which means they don’t have to file their paperwork for four months but they still have to pay estimated taxes today. The story linked above says so many people file extensions it’s no longer a red flag for the IRS. Another story I read said that only a certain number of people are audited each year and they likely will have picked all the people they want to audit by the time the extension-filer’s returns roll in. I don’t know if that’s true or not, but it makes some sense.

If you need to file an extension, you can do so by phone or computer as well as mailing a document. Check out the IRS website for more information.

Sarah White wrote this on April 15th, 2005 and filed it under Fix My Finances, Taxes |