Personal Tax Clients
When you file for an automatic extension of time you get three (3) more months to file.
Personal Tax returns due July 15th will be due Thursday, October 15th.
Submit information: Use the form below to submit your information required to file your income tax extension.
Authorization: By submitting the form below, you hereby acknowledge that you fully understand all parts of our Personal Income Tax Engagement Letter here and are authorizing us to file this extension of time on your behalf.
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Assurance: Rest assured your form is submitted across a protected 256 bit SSL (Secure Socket Layer) connection.
Fee: Your estimated tax liability due with the filing of this extension will be automatically withdrawn from your bank account on 7/15/2020. Our fee to prepare this form is $50.
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Important: Please note that while filing an extension removes late filing penalty assessments when you file by the extension deadline of October 15, 2020, any tax liabilities (amounts you owe the IRS or State) are STILL DUE BY JULY 15, 2020.
See the “IMPORTANT NOTE REGARDING YOUR INCOME TAX EXTENSION” below for more information.
*IMPORTANT NOTE REGARDING YOUR INCOME TAX EXTENSION
Please know that while filing an extension removes late filing penalty assessments when you file by the extension deadline of October 15, 2020, any tax liabilities (amounts you owe the IRS or State) are STILL DUE BY JULY 15, 2020.
If you file an extension without making any payments and subsequently file with any amounts owed, interest will be charged on any amounts owed and will accrue beginning on July 15, 2020, until your full balance(s) owed is paid.
There is no perfect method to “quickly” estimate your tax liability for any given year. But, short of having your returns fully prepared, you may choose to use your prior year tax returns as a gauge. If your income for 2019 was similar to 2018, and you did not have any other significant taxable events during 2019 (withdrawals from retirement accounts, large capital gains, received an inheritance, etc.) Then you may choose to base your estimated tax liability on your prior year results (pay the same amounts at the time of the extension that you owed last year, or if you had refunds, then choose to make a zero payment).
Keep in mind that if you underpay, at least you will have reduced the amount of interest you will be charged, and if you overpay, you will receive the overage back as a refund when you file! Please note, that since we have not yet received your tax documents and/or did not receive them far enough in advance of the filing deadline to prepare your return,
we will not be able to determine what amount, if any, you should pay at the time of extension.
However, if you are a returning client and would like us to send you your tax liability information from your 2018
return to assist you in determining if you would like to make a payment with your extension, please email us at
info@rac-co.com or call/text our office at (585) 454-8780.
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