Shakopee, MN Tax Office Explains What’s Actually Being Extended

Tax ExtensionI’ve been saving up all kinds of wise financial and personal strategies to share with you straight from “Shakopee, MN Tax Preparer Central”, but I hope you’ll allow me some forbearance. It’s fair to say that the office has been a little busy these last few months as we’ve been preparing tax returns for our Shakopee, MN and national clients!

And, well, since we’re coming up against a hard deadline a week from Monday (April 15th), it’s important that I clarify some things for my clients and friends to whom it applies …

But before I get there, a couple quick reminders about what ELSE the 15th means

1) Monday, April 15 is the deadline to contribute to IRA’s and HSA’s in order to have them count on this year’s (2012) taxes.

2) It is also the deadline to claim the almost $1 billion in unclaimed refunds for returns dating back to 2009. If you, for some reason, didn’t file for that year, you could be missing out. Call us for this special circumstance: 952-445-8753
(Or for any other question — but again, bear with us, as we are extremely busy!)

And one last thing: if you have filed your taxes with us already, and you had a good experience, would you…

A) Email me, and tell me about it?

B) Share us on your Facebook wall…?
Join us on Facebook: http://www.facebook.com/pages/Menden-Accounting-Tax-Service-Inc/230199503195
Here’s something you can say:
“I had my taxes prepared by Roger Menden’s team, and had a great experience. They also just told me that they are willing to help procrastinators! So, if that’s you, give them a call at: 952-445-8753 and let them know I told you to call. Or you could do it tomorrow, of course :)”

Or some such… thanks again! (And you can even tell them about what’s at the end of this blogpost, if you so choose.)

Shakopee, MN Tax Office Explains What’s Actually Being Extended
Let’s clear some things up with some facts for Shakopee, MN taxpayers about getting an “extension”.

As you know, Monday, April 15th is the filing deadline for a federal tax return.  If you need more time to get your paperwork complete, you need to file (or have us file on your behalf) Form 4868 (Automatic Extension of Time to File with the IRS by the end of the day on the 15th.  This gives you an automatic six-month (until October 15, 2013) extension of time to file.

Here’s the deal: An “Extension of Time to File” is not an “Extension of Time to Pay”, unfortunately — except for certain cases (more on these in a moment). In normal circumstances, the Extension simply gives you an automatic six months of additional time to get your paperwork together and file that return.  But, if you owe more than what you paid with your estimate, you’ll be accumulating penalties and interest on the difference–so PLEASE don’t take the entire six months to do this!

The exception to this rule is for:
1) Wage earners who have been unemployed at least thirty consecutive days during 2012 or in 2013 up to this year’s April 15 tax deadline; or
2) Self-employed individuals who experienced a 25 percent or greater reduction in business income in 2012 due to the economy.

So, if that’s you — let us know! We’ll get you payment relief. 952-445-8753

For the rest of you, when filing your “Extension of Time to File”, you’ll need to estimate what you think you owe to the IRS.  This should not be pulling numbers out of thin air (or various body parts)!  You’ll still need to go through your receipts and tax documents and get them “somewhat” organized.

From here, you can estimate both your income and your expenses, and then approximate what you owe Uncle Sam.  Keep in mind that this is an ESTIMATE.  And, you’ll have to pay what you estimate you owe at the time we file for the extension.

You can do this all electronically through our office, you can mail in the form WITH estimated payment (must be postmarked by the 15th), or you can call a specialized provider and pay by credit card. We can provide you with the appropriate number to call.

And it’s NOT TOO LATE! See below, and come by right away!

To more of your money in your wallet!

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“PROCRASTINATORS ONLY” Special Gift Certificate
$23 Towards Any Tax Service
“Yes, I Have Procrastinated Filing My Taxes This Year … But I Still Want to Protect Myself from All the New Tax Laws and Get MORE Money Back from Uncle Sam with A Peace-Of-Mind Guarantee that’ll Keep Me Sleeping like a Baby when My Taxes are Filed with the IRS!”
Deadline April 15th
Not valid with any other offer
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