Today it is less than 40 days until your personal taxes are due on April 15. Corporate returns are due next week. Have you begun or finished your taxes? There are numerous changes to the tax code this year so you might need some help. Check with a CPA to get your personal taxes completed on time. Ask for help to file an extension and plan a time to work on your tax preparation if it is too late to prepare and send your return in by April 15, . Corporate return extensions are due September 15, 2019.
Last year 11.6 million Americans filed for extensions and the number may well grow this year. These extensions give you an extra six months and are due by October 15, 2019. However, the extensions also allow the IRS to charge interest on unpaid taxes creating another tax bill after you have filed late. Some who have been caught unaware of the change in their tax bracket and who have not adjusted their withholding in the 2018 year may need extra time to pay their tax bills.
If you are going to be a late filer, it is time to plan for getting the extra resources you will need to take care of taxes. You will also want to contact a tax preparer to begin so you can minimize the interest on your unpaid taxes. It may not be too late.
Les Merritt, CPA and CFP (Certified Financial Planner) is ready to lend assistance. He may be able to file your corporate in time if you contact him immediately or can file an extension. He has been helping families and companies for over 30 years with tax preparation and planning. Contact his office at (919) 269-8553 to help you get your taxes ready.