Why we extend returns !

Table of Contents

• Let’s Talk Timing

• Important Filing Deadlines You Should Know

  • Business Tax Returns

  • Personal Tax Returns

• How We Schedule Tax Returns

• Resources for your investors

Let’s Talk Timing

We are officially in tax season mode but the work does not start in February and it does not end in April. We plan the year intentionally so our team can stay focused calm and accurate while delivering the best work possible for you.

We do not believe in rushing returns just to hit April 15. Accuracy and planning always beat speed.

Important Filing Deadlines You Should Know

There are two different sets of rules depending on the type of return.

Business Tax Returns

• Original due date - March 15

• Extended due date - September 15

If a business return is not ready by March 15 we can file an extension that gives us an additional six months to file.

What matters most

• Any tax due must be paid by March 15
• Filing an extension avoids late filing penalties
• The extension gives us time to complete the return correctly

If the extension is missed

• Late filing penalties begin immediately ($220/investor/every mth its late)
• Penalties can apply even if no tax is owed
• These penalties add up quickly and are completely avoidable

Personal Tax Returns

• Original due date -April 15

• Extended due date - October 15

If a personal return is not ready by April 15 we can file an extension that gives us an additional six months to file.

What matters most

• Any tax due must be paid by April 15
• Filing an extension prevents late filing penalties
• Filing later does not increase audit risk

If the extension is missed

• Late filing penalties apply
• Interest accrues on unpaid balances
• These penalties are far more costly than filing an extension

How We Schedule Tax Returns

We prepare tax returns across three filing quarters based on capacity and complexity.

• Q1 - February through April 30

• Q2 - May 1 through July 31

• Q3 - August 1 through October 15

This structure allows us to pace the work evenly throughout the year. Not everything can be done at once and that is intentional. It protects quality reduces stress and ensures your return gets the attention it deserves.

What This Means for New Clients

If you are a new client or your return is new to us this year and we have not already discussed timing your return will be scheduled for Q2.

• We will file an extension on your behalf
• Your return will not be rushed
• You will still be fully compliant

Why Extensions Are a Good Thing

Extensions are normal and widely used especially for complex returns.

I personally file extensions every year for both my personal and business returns and have done so for over 20 years.

Here is what actually matters.

• Taxes are paid by the deadline
• Penalties are avoided when payments are made on time
• Filing later does not increase audit risk
• Rushed and incomplete returns do

Filing in July instead of March gives us time to ask better questions review details and identify opportunities that often get missed when everything is rushed.

Our Goal

• Not fast
• Not last minute
• Done right

This process avoids chaos protects your return and allows us to deliver the best work we have to offer.

Calm accurate and on time beats fast every time.

When you are ready to file your return, you can upload your docs here and we will reach out to confirm reciept and get you in the queue to get you started - Upload Docs here

Resources for your investors

Understanding K1 Timing and Filing Extensions , use this guide to communicate extensiosn to your investors- A Resource for your investors regarding your investors

Need More Time to File Your Taxes Here Is Exactly How to file an Extension for businesses and personal tax returns , A Step by Step guide on how to file an extension for both personal and business tax returns.