If you filed for an extension, the final deadline for filing your 2013 Individual Income Tax Return is October 15, 2014. If you don’t file on time, there will be interest & penalties back to April 15, 2014 (as if the extension wasn’t filed). Also remember that the extension was for Time to File, not Time to Pay, so you should have paid in an amount to cover your expected tax debt.
With the IRS, they will charge a Failure to Pay penalty for any amount owed greater than $499, or the unpaid amount over your tax liability (if any) for 2012. There also will be a Failure to File penalty if your return isn’t filed by October 15, 2014 if you filed an extension. States vary but they have a similar logic (for example, Illinois will charge a penalty if the amount due is greater than $249, plus a penalty for failing to file).
I have availability if you need a hand with your 2013 taxes (or past due tax returns). Please feel free to contact me through the form below & we’ll get things done!
Thomas C. Hodge, CPA
The Hodge Group
3040 N. Menard Avenue
Chicago, IL 60634