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The federal income tax filing deadline is slightly later than usual this year \u2014 April 17 \u2014 but it\u2019s now nearly upon us. So, if you haven\u2019t filed your individual return yet, you may be thinking about an extension. Or you may just be concerned about meeting the deadline in the eyes of the IRS. Whatever you do, don\u2019t get tripped up by one of these potential pitfalls.<\/p>\n
Filing for an extension While filing for an extension can provide relief from April 17 deadline stress and avoid failure-to-file penalties, there are some possible pitfalls:<\/p>\n Meeting the April 17 deadline To avoid this risk, use certified or registered mail or one of the private delivery services designated by the IRS to comply with the timely filing rule, such as:<\/p>\n Beware: If you use an unauthorized delivery service, your return isn\u2019t \u201cfiled\u201d until the IRS receives it. See IRS.gov for a complete list of authorized services.<\/p>\n Avoiding interest and penalties \u00a9 2018<\/p>\n [\/fusion_text][\/fusion_builder_column][\/fusion_builder_row][\/fusion_builder_container]<\/p>\n","protected":false},"excerpt":{"rendered":" [fusion_builder_container hundred_percent=”no” hundred_percent_height=”no” hundred_percent_height_scroll=”no” hundred_percent_height_center_content=”yes” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=””][fusion_builder_row][fusion_builder_column type=”1_1″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” … <\/p>\n
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\nFiling for an extension allows you to delay filing your return until the applicable extension deadline, which for 2017 individual tax returns is October 15, 2018.<\/p>\n\n
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\nThe IRS considers a paper return that\u2019s due April 17 to be timely filed if it\u2019s postmarked by midnight. Sounds straightforward, but here\u2019s a potential pitfall: Let\u2019s say you mail your return with a payment on April 17, but the envelope gets lost. You don\u2019t figure this out until a couple of months later when you notice that the check still hasn\u2019t cleared. You then refile and send a new check. Despite your efforts to timely file and pay, you can still be hit with both failure-to-file and failure-to-pay penalties.<\/p>\n\n
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\nDespite the potential pitfalls, filing for an extension can be tax-smart if you\u2019re missing critical documents or you face unexpected life events that prevent you from devoting sufficient time to your return right now. We can help you estimate whether you owe tax and how much you should pay by April 17. Please contact us if you need help or have questions about avoiding interest and penalties.<\/p>\n