Tips for Tax Procrastinators: File an extension

Before you go, we thought you'd like these...
Before you go close icon
If you're behind on getting your taxes done, one of the best things you can do is file an extension. That will buy you some extra time to get everything filed. But don't use that as an excuse to keep procrastinating. Use it just to give you more time so you're not hurrying to finish your taxes (and therefore making mistakes or missing important items).

Remember this, though: filing an extension only gives you more time to file the papers, not more time to pay if you owe money. So if you have a pretty good idea that you'll owe money to the IRS or the state, you should send that money with the extension.

You can get a six month extension by filing Form 4868 by the tax deadline of April 15th.

Read more Tips for Tax Procrastinators

Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.
Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

People Have Been Making Chicken Wrong The Whole Time - Here's The Best Way To Do It People Have Been Making Chicken Wrong The Whole Time - Here's The Best Way To Do It
Farmer Came Outside To Check On The Animals - And Found This In Her Pasture Instead Farmer Came Outside To Check On The Animals - And Found This In Her Pasture Instead
Glass-Printed Photos from Fracture Are an Easy Way to Make Your Room All Nice and Pretty Glass-Printed Photos from Fracture Are an Easy Way to Make Your Room All Nice and Pretty