TAX EXTENSION

Avoid Costly Late Filing Penalties

If you fail to file for a tax extension or your tax return by the proper filing due date (March 15th, 2022, for most businesses, and April 18th, 2022, for most individuals), the IRS will impose interest and penalty charges on any unpaid Federal taxes, as well as penalties for filing late. The failure-to-file penalty is 5% of the unpaid tax, charged per month (up to a maximum of 25%). If your tax return is over 60 days late, you may be liable for a minimum penalty of $210. The sooner you file a tax extension or tax return, even if you can’t pay all that you owe, the less likely you are to ultimately owe the IRS.