How to File an Extension for 2018

How to File an Extension In 2018

If you’ve waited until now to contact a tax professional or CPA about filing your taxes, you’ve likely been told the bad news: they’re booked or they will need to file an extension on your behalf.

If you haven’t yet found a professional to file your taxes and you don’t want to file on your own, you should file an extension yourself as the deadline for doing so is just around the corner.

An extension buys you a grace period so a professional can still assist you after the tax filing deadline. An extension does not, however, extend the time you have to pay your taxes. If you believe you’ll owe taxes, you should make a payment now, using the following options:

Reason for Payment: Extension

Apply Payment To: 4868 (for 1040, 1040a, 1040EZ)

Tax Period for Payment: 2018

 

The deadline for filing an extension is April 15. You can e-file an extension for free. Alternatively, you can find Form 4868 on the IRS website to file for an extension via mail. It will need to be postmarked by April 15th for your extension to be granted.

Filing an extension will give you until October 15, 2019 to file your tax return. You will still be required to pay your taxes by April 15th, 2019.

TL;DR: You procrastinated having your taxes done. File an extension, then get help.
Important Due Dates for your Taxes!

Important Dates and Deadlines for the 2019 Tax Season

We are in the count down of tax season 2019 and your 2018 taxes are coming due.

With the new tax law, the government shutdown, and changes to the tax withholding tables, it’s been an interesting tax season so far. There are six weeks left to file individual tax returns and two weeks remaining for most business returns.

While things are a little hectic here at TL;DR: Accounting, we’ve been well-prepared for a crazy tax season and we’re more than happy to work on your taxes.

Filings submitted after the below due dates may incur penalties and fees for late filing. (*Cue scary background music.*)

Taxes: Due Date: Deadline for Submitting Your Information to Us:
Individual 4/15/19 3/15/19
Partnership 3/15/19 ASAP
S-Corp 3/15/19 ASAP

Partnerships and S-Corporations are due in less than 2 weeks, so if you have not gotten your information to us, please do so as soon as possible.

If you are filing your taxes with us, you must submit your information to us within the next two weeks to guarantee your taxes will be filed on time. If you miss this deadline, your return might require an extension.

Are you still taking on new tax clients for the tax season?

We are still accepting new tax clients for the current tax season. If you are a business return it will go on extension but we will work to complete it by the individual due dates so your personal return doesn’t go on extension. This may change depending on how many additional clients come to us between now and 4/15. I highly recommend that you book an appointment with us sooner rather than later if you would like help with your taxes.

TL;DR: You need to get moving on your taxes: the sooner the better. If you are still looking for an Accountant, schedule a meeting with me here.
Can you Review MY Self-Prepared Tax return

Can You Review My Self-Prepared Tax Return?

We get asked all sorts of questions about self-prepared tax returns during tax time:

Can you review my tax return?

Does this amount look right?

I didn’t know what information to put here.

TL;DR doesn’t review self-prepared returns before you file them. Unfortunately, reviewing a self-prepared return isn’t cost- or time-effective. It’s cheaper, and more efficient, for us to prepare a tax return on your behalf than it is for us to review a return you started on TurboTax or another software.

But Why Can’t You Review My Return?

We’re not able to tell if you entered the correct information in when filling out your tax return yourself. We also don’t know how you answered specific questions the software asked you.

What Should I Do?

Either file the tax return you prepared yourself, or hire a professional to prepare your return.

If you think you made a mistake on your self-prepared return and you receive a notice from the IRS, we can help you respond to the IRS or amend your return.

TL;DR: We do not review your self-prepared tax return before you file.