Individual Tax Return Extensions

The April 15th due date for individual tax returns is fast approaching!  If you have not yet filed your 2014 Form 1040 you may want to start thinking about filing an extension.  

Here are some things you should know about individual extensions:

• An extension only gives you additional time for filing your tax return.
• An extension does not give you additional time to pay any tax that is due.  
• If you think that you may owe taxes this year you will need to have a rough estimate of how much you believe you will owe once your return is actually filed, and include a check for this amount with your extension.

If you have any questions about this or any other accounting related topic, please do not hesitate to contact us here at Shein & Wente CPA in Melbourne, Florida!