For all of you that couldn’t file your 2015 personal tax-year tax returns on this year’s deadline on April 18th, 2016 and were granted a federal and state tax extension by the government, you’ll have up until October 15th, 2016 to eFile your return. That’s a full 6 months of extra time time to complete your returns. If you miss this deadline, then you may be subject to late fees, interest charges on any taxes owed, and/or fines.
If you’re filing using one of the popular at home tax software services link TurboTax or H&R Block, then you’ll be able to either login to your online account to complete your tax forms, or pick up where you left off if using software installed on your desktop computer. If you you have a tax accountant helping prepare your tax return this year, then make sure you sign all of your forms and get it eFiled by the deadline.
It’s also important to remember that even though you were granted a tax extension this year, any taxes that you may owe for 2015 will ned to be paid by April 18th, 2016. If you’re not exactly sure how much you’ll owe, you can use one of the many free online tax programs to estimate the amount. Otherwise, Uncle Sam will tack on some late fees and interest changes onto of the amount owed.
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