10/15/2015 is the extended filing due date.
You must have your 2014 personal tax return filed by this date. Those that choose to ignore this date will find them not only subject to penalties, but cause themselves ultimate stress with letters from the IRS calculating their tax liabilities.
Thats right, these days the IRS has found it easier to assess a taxpayer the amount of perceived tax, assuming they have little or no deductions or exemptions, as opposed to asking taxpayers to file a return. This way, they start the statute of limitations running and can assess late fees and penalties that ultimately stick to the taxpayer.
The tax world is different in 2015 than prior years, where the IRS assesses first and asks questions later. Please do not forget this deadline, otherwise there could be great consequences that await you. Even if you havent filed in previous years, or if you don’t have all of your information, please file a return and start the statute running. Then the IRS has three years to inquire as to your liability or else they lose the right to question you. Put the onus on the IRS as oppose to them putting it on you. File before this deadline!
Recent Comments