Filing for an extension on your taxes doesn’t necessarily mean an audit. Here’s why
Article by Gail MarkJarvis Chicago Tribune.
Taxes are due April 18.
What should you do if you can’t finish your tax return on time or if you don’t have the money to pay your taxes now?
There is a common belief that you should be among the masses filing by the April deadline so you don’t draw attention to yourself from the IRS and bring on an audit. (This year’s federal tax deadline, by the way, falls three days later than usual because of Easter Sunday and Emancipation Day, a legal holiday that will be observed in the District of Columbia on April 17.)
But there’s a difference of opinion among tax professionals about whether the belief about audits is valid. Taxpayers who can’t meet the deadline can file for an extension that will let them submit their tax return later. And they should file for an extension if they can’t get their tax return done right in time for the April filing date, said San Francisco tax attorney Robert Wood.