If you requested a six-month extension to file your 2013 individual income tax return, you face a major deadline on October 15. That’s the final date for filing your 2013 return; the IRS does not give additional extensions except for in very limited cases.
It is important to understand that you should file your tax returns on time even if you can’t pay your tax in full. The IRS charges a late filing penalty of 5% of the balance due per month up to a maximum of 25%. On top of this, they also charge late payment penalties along with interest compounded daily. Each state also has its own schedule of penalties and interest.
Please contact Hawkinson, Muchnick & Associates if you need filing assistance.
