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October 17th Extension Deadline Approaching

For those taxpayers that filed an extension in April, the deadline is right around the corner. About 1 in 8 taxpayers have filed an extension this year. The deadline is extended 6 months from the tax due date. This year, however, the deadline falls on October 17 than the typical deadline of October 15 since the 15th falls on a Saturday. It’s still recommended to file sooner than later to avoid any issues that may come up. Also, the IRS recommends electronically filing unless a paper return is required given the backlog that is currently with the IRS due to the prior year pandemic. While the IRS plans to hire more agents with the funding that the agency has received, it will take some time as there will be training required and immediate processing is unlikely to occur.

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Disclaimer: This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult a tax, legal and accounting advisors before engaging in any transaction or submitting any IRS form.
Ramin Mohammad

Ramin Mohammad

Ramin Mohammad is a lawyer and CPA with over 15 years of experience including working in audits, teaching, and in big law. Ramin helps clients on both personal and business related tax issues ranging from a multitude of practice areas including tax structuring, planning and cross jurisdictional taxes. His client-base expands throughout the US and overseas offering tax consulting, tax planning and tax preparation.

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