Protection from a late-filing penalty for individual taxpayersĮven when an extension is filed, any balance due must be paid by the original due date of the return to avoid a failure-to-pay penalty and interest. When an extension is paper-filed (and proof of mailing is retained by the taxpayer or representative), it is input by IRS personnel to the taxpayer's account.
If the IRS rejects the electronic filing because of, for example, a mismatch of information, the taxpayer can resubmit or file by paper. When the extension is filed electronically, the IRS will post the extension to the appropriate taxpayer's account under the relevant tax form and tax period. Taxpayers can file extensions of time to file income tax returns electronically or by paper. However, an extension of time to file generally should be considered for every taxpayer and for every tax period for which an extension is available, regardless of whether the taxpayer intends to file on or before the original due date of the relevant income tax return. And there also are those for whom the decision to extend comes down to the wire, determined by whether the return can be filed by the original due date. For others, the notion of requesting time beyond the original due date is outlandish. For some taxpayer clients, an extension is a regular, yearly occurrence. As practitioners throughout the United States reflect on tax season 2017, the last detail they might consider is whether more clients should be encouraged to file an extension.
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