The strenuous amount of time and energy that has to be spent on filing tax returns is one of the main reasons not to do it. Apart from procrastination and negligence, most of the times, people fail to file their tax returns before April 15 either because they are caught up in their busy schedule or waiting for all the required tax documents. Recognizing this inevitable need of some extra time, the IRS allows for an extension period of 6 months, i.e. it allows for postponing the deadline to file tax returns from April 15 to October 15.
This way people who are too busy with their personal or professional commitments can buy some time to gather all their tax documents, review them thoroughly and come up with a tax return that is in their best financial interests. One must …Read More