Be Careful This Year
Although the 2010 due date has been extended to the April 18th for Personal Federal Tax Returns, most other Federal Tax Forms and Payment along with 2010 State Tax Returns may still be due on April 15th 2011.

Avoid Tax Return Anxiety
If you are feeling pressure to accurately prepare and complete your tax return you should consider filing an extension. The concern and difficulty in completing your tax return in a rush will often lead to costly mistakes and an incomplete tax return. An incomplete tax return can not only result in missed deductions and income, but some mistakes can even lead to an IRS or State Audit. The IRS is becoming more and more efficient at comparing information on your return with all reporting agencies and issuing a Letter of Audit if the information appears inaccurate or inconsistent.

How to File a Personal Extension
File Form 4868 – Extension Application.
Reminder, this is an extension to file not an extension to pay so if you think you may owe or know the amount a payment should be made with the extension. Simply put the estimated income and tax amount on the form and make a payment with the extension.

With Payment, Mail 4868 To:
Internal Revenue Service
PO Box 7122
San Francisco, CA 94120-7122

No Payment Mail 4868 To:
Department of the Treasury
Internal Revenue Service
Fresno, CA 93888-0045

After Filing a Personal Extension
After you have filed your extension, if you still feel uncomfortable about preparing your own tax return or even have decided it’s time to change to a new accountant, get started now to avoid more sleepless nights. Research your options, talk to other people and ask for referrals and then schedule an appointment within the next few weeks to get last year’s return completed and start working on a plan for this year.

Whether you need a personal tax return prepared or have even greater tax planning opportunities with a business, we are happy to schedule an appointment to review your unique circumstance and help prepare a plan that is specifically designed for you.