Most American taxpayers know that their tax returns must be filed by April 15thA each year. There are occasional exceptions when the deadline for filing your tax return falls on a day other than the 15th, with 2012
being one such exception. This year, filers will have until April 18th to file their tax return without being penalized. Despite having three additional days to file, may taxpayers will simply not be ready in time. There are options for filers who know they will not have their taxes ready by the deadline. By requesting an extension, these filers can extend the deadline to October 17th, 2012. Consider the following if you are thinking about filing an extension. Due Date For Tax Liabilities Is Not Extended
One of the reasons taxpayers do not file taxes or fail to file on time is when a tax liability is owed. Some individuals believe if they do not file, they can somehow evade the tax man.
As many well know figures in the past can attest, this is not a scenario which ends well for the taxpayer. Other filers may not be attempting to avoid paying taxes, but simply do not have the money available by the April 18thA deadline
. Understand this, by filing a request for an extension, you are not extending the date in which tax liabilities are owed. Any tax bill owed to the IRS will be due by midnight on April 18th
, regardless of whether or not your tax return is filed or an extension requested.