What to do if you are Not Ready to File your Tax Return

 April 15 is almost here.  Your personal tax return for 2016 is due April 15, 2017.  For one or more of a number of reasons you may not be able to file your tax return by April 15, 2017.  What do you do?
First understand that there are many reasons why you may not be able to file your tax return by April 15 and you are not alone.
Some of the reasons are as follows:
1. All of the information to file your tax return is not yet available.
2. You or a family member is sick and you have not yet been able to gather the information to have your tax return prepared.
3. Your work schedule or other responsibilities have prevented you from filing on time.
4. You have not yet prioritized what you need to do to file your tax return and now it is too late.
Second understand that you can apply for an extension of time to file your tax return.
Third understand that an extension of time to file is not an extension of time to pay any additional amounts you owe.  If you do not pay what you owe by April 15th you will be subject to additional penalties and interest.
Finally, gather what you do have available, contact your CPA, as soon as possible, so that a projection of what you owe can be calculated, and an extension of time to file can be filed by April 15, 2017.
Jerald Schneider is a Certified Public Accountant providing tax, accounting and financial advice for more than 30 years.  He can be reached at 661-297-1072 or by e-mail at jerald@jeraldschneider.com.