Filing Extensions: 

The IRS and all States with an income tax allow an extension of time to file your individual and/or business tax returns.  You need to be aware that an extension of time to file is not an extension of time to pay.  All of the tax that is due needs to be paid on or before the original due date of your return (usually April 15^th). 

 What this means to you is that if we are filing for an extension of time to file for you, we will need to have a fair estimate of your income, expenses & tax to be paid to date to reasonably estimate the tax that will be due.  If a sufficient amount of tax is not pre-paid, your filing extension will be deemed invalid by the taxing authorities. 

Tax returns for clients who have not provided all information required to complete a tax return by April 1^st will be placed on extension with additional fees assessed.

The extended due date for most tax returns is October 15^th.  Our office offers no assurance that a tax return with a due date of October 15^th will be timely filed if all information necessary to complete that tax return is not in our office by October 1^st.

This message brought to you by:  Leonard D. Rea & Co. in Sturbridge (Fiskdale), MA.   Providers of Income tax planning and preparation and financial planning.  For more information about this or any other issues regarding income tax planning or preparation or financial planning, feel free to contact us.