Extension Ending

Now that we have moved into September, it seems a good time to remind extension filers that, as the calendar goes, next month is October. I know, I can hardly believe that we have already got there, too, but those six months of time you bought back in April are rapidly coming to an end.

Now this doesn’t mean that it is time to panic, but it does mean that it’s time to get a move on. As an overall reminder, the extension deadline is October 15, 2024. So yes, this does mean you still have over a month to go, but seeing as the first deadline passed about five months ago, do not think of this as still having a lot of time left.

Maybe you are in a position where you expect your tax return to largely turn out to be a wash and you won’t owe a lot of money, so it has just been pushed off as an annoying task. Well, even if that turns out to be true, wouldn’t it feel nice to get it taken care of and not have to think about it anymore?

And maybe once things are completed, it will turn out that you are getting some money back. If you end up in that situation, wouldn’t it be nice to get that money in your pocket instead of letting someone else hold onto it just because?

Then of course there is the chance that you may own some money, and there is where things really turn toward being a good idea to get this completed. For as a second reminder, getting that tax extension gave you an extra six months to file your taxes but it was not an extra six months to pay your taxes. That means that as soon as the original April 15th deadline passed, any money that was owed immediately became subject to taxes and interest. And now as more time is going by, those are possibly only accruing.

So yes, as of right now in early September, the sound of that clock may not be too loud, but that doesn’t mean that time is not still ticking.

Warmly,

Josh Bousquet
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