You don't have to file with IRS by April 15. Everyone can get an automatic extension for another six months. Here's why you should consider it.
by filing a tiny form. It doesn’t even require a signature. It couldn't be easier. Of course, the extension is to file your tax return, it is not an extension of time to pay. Thus, you need to pay by April 15 what you expect to owe when you actually file your taxes later in the year, anytime up until October 15th. But are Many returns around April 15th are filed in haste, some carelessly. And that can bring on an audit.
some professional advice. Besides, even if you have all your forms ready, what if you receive a Form K-1 or 1099you file? It happens a lot, and the earlier you file your return, the greater the risk you will receive corrected forms that may make you need to amend. Going on extension makes it less likely that you will be surprised by a tardy corrected Form K-1 or 1099. You may as well file once and file correctly.
And then there are all the stories about audit risk. Some people say that going on extension increases audit risk, while some people say the opposite. There appears to be no hard evidence to prove either theory. However, it is worth stressing that there is no evidence that there is anaudit risk if you go on extension.
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