There’s no shame in filing a tax extension if you can’t meet the April 15th deadline. In fact, for many taxpayers, it’s a smart strategic move depending on their financial situation. Tax season doesn’t end in April—it’s a year-round affair—and an extension can provide valuable breathing room.
Whether you’re missing documents, facing business delays, or simply juggling life’s curveballs, millions of people file extensions each year. But what should you be doing after you file?
Let’s clarify something upfront:
An extension to file is not an extension to pay.
Once you’ve filed for extra time, the clock is still ticking when it comes to what you owe. Here’s how to make the most of the months ahead and avoid falling behind:
1. Know Your New Deadline
If you filed an extension for your personal return (Form 1040), your new deadline is October 15. That gives you six more months—but don’t waste them.
Set reminders for 30, 60, and 90 days out. Procrastination is the top reason people miss the extended deadline and end up with costly penalties.
2. Pay What You Owe—Now
Extensions don’t delay payment. If you owed taxes on April 15 and didn’t pay, penalties and interest started accruing on April 16.
Even if you’re not sure of the exact amount, it’s better to send an estimate than nothing. Partial payments reduce your exposure.
Use IRS Direct Pay to submit payments quickly and securely.
3. Get (and Stay) Organized
Use this extra time wisely by gathering the documents you need, such as:
- W-2s, 1099s
- Business receipts and expense logs
- K-1s from partnerships or S corps
- Investment and retirement account statements
- Medical expenses, charitable donations, education credits
Create a digital or physical folder to store everything in one place and compare it against bank records or bookkeeping software to catch missed items or deductions.
4. Keep the Lines of Communication Open
If you use a tax professional, don’t wait until October 14 to re-engage. Check in early with any updates like:
- A new side hustle
- Stock sales
- Real estate transactions
- Marriage, divorce, or new dependents
These changes can significantly affect your return and require thoughtful planning.
5. Watch for IRS Letters
If you made a payment or filed close to the deadline, keep an eye on your mail. The IRS may send confirmations, adjustment notices, or follow-up requests.
Also, you can track your refund status anytime at irs.gov.
6. Rethink Your Tax Planning Strategy
Most people don’t file extensions because they want to—they do it because something went wrong. Use this time to evaluate:
- Was someone late sending documents?
- Did you delay your own bookkeeping?
- Did life events disrupt your timing?
Make adjustments now so next year goes smoother. That might mean using a tax organizer, hiring quarterly bookkeeping help, or simply starting earlier.
Brass Tax Moment
An extension isn’t a failure. It’s a tool.
But it only helps you if you use the time wisely. Don’t wait until October panic sets in. Plan now. Organize now. Ask questions now.
And if your tax situation is too complex or overwhelming, you’re not alone. A licensed tax professional can help you get things done—accurately, efficiently, and with confidence.
About the Author
Based in Rockwall, Texas, Karena Burgess brings over 18 years of financial experience, including 8 years on active military duty and 10 years with the Department of Defense. As an IRS Enrolled Agent (EA) and Certified Tax Resolution Specialist (CTRS), Karena specializes in solving complex tax issues and helping individuals stay on track with the IRS.
Contact:
hello@karenaburgess.com
(214) 295-7264
www.burgesstaxrelief.com
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