How to File a Tax Extension With the IRS

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Filing a tax extension with the IRS is important if your taxes cannot be filed on time to remain compliant with the IRS. File an extension instead of just filing taxes late with information from a registered financial consultant in this free video on personal finance.

Part of the Video Series: Personal Financial Advice
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Video Transcript

This is financial adviser, Patrick Munro, talking about how to file a tax extension with the IRS. If you are in a situation where you're filing your taxes and you find that there is an issue during the filing cycle that has not yet been resolved and will not be resolved until the tax deadline files, it is prudent for you to file the tax return anyway in a timely fashion with an exemption attached. It's basically an explanation to the IRS as to why your return is not complete and a request for an extension when the event is going to come into clarity, so that you can in fact file a return. This will keep you compliant with the IRS. As long as the reason is documentable, the IRS will grant you your extension. Their goal is for you not to not file, because then you are a taxpayer who is not compliant, and the IRS will begin to immediately put penalties on your account. So this is the appropriate way to file a tax extension with the IRS. This is financial adviser, Patrick Munro.

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