Hello there, I hate to be the bearer of bad news; Tax Day is just around the corner. The Tax Deadline for your 2021 tax filing is April 18th, 2022.
Don’t freak out. If you find yourself unable or unwilling to get your taxes done by that deadline, you can request an automatic six-month extension to file. In case you were wondering, the deadline to apply for a tax extension also falls on April 18th.
The good news here for all you procrastinators (of people with complicated tax planning needs) is that applying for a tax-filing extension could be one of the easiest parts of getting your taxes done. Reminder- you must file for an extension. You are not automatically given more time.
There is no shame in filing for a tax extension. I’m guessing some of you procrastinate and will wait until the night before or the day of to file regardless of when your tax filing deadline is. As a financial planner who does a ton of proactive tax planning, I work with many clients who own businesses and have more complicated tax situations. Even when everything is organized and given to their tax experts early- they still often end up filing on an extension.