As a courtesy, BYB automatically places current clients on an extension after missing the Tax deadline on April 15th (April 18th deadline in 2016). The extension allows for you to file after the deadline up until October 15th (October 17th deadline in 2016).

An extension allows you six months to accurately file your returns, but if you owe taxes the IRS does not give you an extension to pay what you owe. The IRS requires you to pay what you owe by the original deadline to avoid penalties and interest charges.

If you still haven’t filed your 2015 Tax returns, you need to take action NOW!

Below you will find more information regarding late filings.

Things You should Know about Filing Late and Paying Penalties