Page 27 - Escape Your IRS Nightmare Flip Book

If your tax return is not ready by the deadline, you can file an extension with the IRS, but it must be

th*
filed and postmarked by April 15 .

*Except where April 15th falls on a Saturday, Sunday, or holiday.

But please remember, if you file an extension you MUST ALSO include a check with either the total

amount that you owed last year or an estimate of 90% of what you owe this year. This is very
important. An extension only provides you with an extension to FILE, and not an extension to PAY.

The IRS expects for you to pay in full or at least 90% of what is owed by the deadline date.

Finally, my last piece of advice on filing your return on time is a tip from what I do at my own house.

Every year I get one very simple folder with two pockets. That folder typically costs me somewhere
between 35 cents to a dollar. I label that folder “20xx Tax Return Documents”. I keep that folder close

to the place where I keep my mail. Then when anything comes in the mail with a tax receipt or tax
information, I put it in that folder so I have it all in one place when it’s time to prepare my tax return by
next year. This makes it easy for me so that I have all the receipts for what I spent buying items for a

rental property, and tax documents from various entities all organized in one place and I only have to
go through it in order for my tax return to be prepared!

If you don’t have a system for organizing your tax documents, take my advice - get a basic two-pocket
folder to keep all of those loose documents organized as you receive them throughout this year!

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