This Important Tax Deadline Is 15 Days Away. Are You Prepared?
Many Americans were thrown for a financial loop this year when the coronavirus pandemic hit back in March. Thankfully, the IRS recognized the need to give filers more time to submit their taxes, and so the agency pushed back the normal April 15 filing deadline to July 15, giving taxpayers an extra three months to get their returns in.
If you didn't manage to complete your tax return by July 15, you may have requested an extension. Normally, a tax extension gives you six months from the filing deadline to submit your return, during which time you'll still incur interest and late payment penalties on any unpaid tax debt you have from the previous year, but you'll avoid the costly failure-to-file penalty that applies if you miss the deadline without asking the IRS for more time.
Image source: Getty Images.
Source Fool.com
