When is the deadline to file your income taxes? It’s a question most people are already able to answer. This year, however, you had three extra days to file. But even with that additional time, many people weren’t able to file their taxes by the deadline. Thankfully, the IRS understands that sometimes things happen that are beyond your control. That’s why they have a process in place for people who need more time to file. Requests for a tax extension for the 2015 tax year had to be filed by the April 18, 2016 deadline.

If you were granted a six-month tax extension, October 17, 2016 is your new deadline to file. That means you should already be working on your taxes. Although you want to make sure you meet your new deadline for filing, you don’t have to wait until the fall to file your taxes. In fact, it’s actually to your benefit to file ahead of the tax extension deadline.

Why You Should File Your Tax Extension Ahead of the Deadline

First, it will reduce the amount of penalties you owe. Even if you request an extension, you’re still responsible for paying a penalty for filing late (although there are some exceptions). These penalties will accrue every month until your taxes are paid. The quicker you file and pay, the lower this penalty will be.

Also, you’ll have it checked off your list. Sure, the summer is full of activities for your family, like vacation and camps. But will it be any less hectic after school starts back? The middle of October will be here before you know it. Be safe instead of sorry. File your taxes as soon as you can ahead of the tax extension deadline.

Don’t wait to file your taxes until the October deadline. Call Blackwell’s Tax Service today for complete tax preparation services. Our Fort Mill, SC office is open year round to assist with all of your tax and accounting needs.