October Will Be Here Soon: A Reminder for Clients on Extension
If you filed a tax extension this year, August is the ideal time to begin gathering everything needed to complete your return before the October 15 filing deadline.
While October may seem a long way off, the weeks between now and the deadline pass quickly. Starting now gives us the time we need to review your information thoroughly, identify any missing documents, answer questions, and prepare an accurate return without the last-minute rush.
What We Need From You
If you have not already done so, please begin gathering and sending us:
Any tax documents you were waiting to receive
Business income and expense records
Investment or retirement statements
Information on life changes, including marriages, new dependents, home purchases or sales, or new businesses
Any other documents requested by your accountant
If you’re unsure whether something is needed, send it to us or give our office a call. We’d much rather answer a quick question now than discover missing information in October.
What Does a Tax Extension Actually Mean?
One of the most common misunderstandings about tax extensions is that they provide more time to pay taxes.
In reality, an extension only provides additional time to file your completed tax return. Any taxes owed were still due on the original filing deadline in April. If a balance remains unpaid, interest—and potentially penalties—may continue to accrue until it is paid.
For most taxpayers, the extension filing deadline is October 15.
Why We Encourage You Not to Wait
Preparing a tax return is more than simply entering numbers into software. Sometimes we need clarification, additional documentation, or time to research unique situations that arise during preparation.
Submitting your information well before the deadline allows us to:
Prepare your return accurately
Address any questions before filing
Help minimize unnecessary stress
Ensure everything is submitted on time
Waiting until the final weeks before October 15 limits the time available to resolve unexpected issues and may delay completion of your return.
We’re Here to Help
If you’re still gathering documents or have questions about your extension, please don’t hesitate to reach out to our office. Our team is here to help make the filing process as smooth as possible, and we appreciate your partnership in getting everything submitted well before the October deadline.
We look forward to helping you wrap up this tax season successfully.
