There are a number of myths out there about filing a tax extension beyond the April 15th deadline. Many taxpayers incorrectly assume that there are penalties involved or it increases their chances of being audited by the IRS. In reality, filing for an extension can be a great way to give yourself more time to organize your financial documents, identify tax strategies to implement, and ensure that the information on your return is accurate. But before you file the extension, here are a few things you should know…….
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