EP 184: Did You File an Extension for Your Income Taxes?

Taxes are cumbersome and oftentimes painful (for most people). There are no two ways about it. But through proper planning throughout the year, plus a simple working knowledge of how the deadlines work, that combination really makes this responsibility manageable.

On today’s episode, we’ll reference IRS statistics on extensions for high-earning taxpayers and discuss how we feel every taxpayer should approach filing their returns.

Topics Discussed:   

  • What to do when things get down to the wire.
  • What our tax days look like.
  • What the IRS website shares about extensions and overpayment.
  • How we suspect the IRS determines audits.
  • The AGI of all returns filed.
  • Why so many extensions tend to be filed.
  • A point of view most people should adopt when it comes to filing taxes.

Resources Mentioned:

Tags

tax extension, income tax, tax preparation, tax prep, ER doc finances, financial planning, financial planner, emergency medicine, ER docs, emergency doctors

by 
Scott Wisniewski, EA