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The Wisdom In Waiting – Why We File Extensions

Guest Post by Sylvin Lange

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One of the most frequent questions we get from our clients is why we typically don’t file income tax returns by/before April 15th deadline. It’s an understandable question since that date has been embedded in all of our minds from an early age as “THE DUE DATE – Period”. Below are a few reasons we may choose, in the client’s best interest best interest, to file an extension.

We have a very thorough and extensive preparation and review process. Rest-assured every tax return that is filed has been reviewed, re-reviewed, and reviewed once again to ensure there are no “red flag” issues, concerns for audit, and completeness. Throughout our review process, tax laws have been researched for pertinence and accuracy, as well as any potential changes/updates enacted by Congress.

1.) We want to ensure we are representing you, our Beloved Client, with the most favorable AND tax-compliant return, in adherence with IRS regulations, laws, and specifications.
2.) We may need to extend a return to allow time to gather all of the necessary information, detail, and facts. Sometimes, this takes additional follow-up e-mails/phone calls. And at times we may need to wait for information from a third party and are dependent upon them for required tax documents.
3.) A very important fact that only a few taxpayers know is the IRS cuts back their audit staff significantly after June 1st. Therefore, by filing your tax return after June 1st, the likelihood of any audit diminishes considerably; other than an unpreventable “Random Audit” – the odds of which are comparable to winning, (or actually losing!), the lottery.

Our goal is to represent you with an accurate and complete tax return that minimizes both your tax liability and exposure; ensuring everything is included that is required as well as assuring you that your tax return is in complete tax-compliance with all IRS laws, rules, and regulations. WE do not take a “cookie-cutter” approach in preparing nor completing your tax return. Consequently, we are not comparable to most other firms, especially those that provide same-day service (i.e. H&R Block).

We attempt to ask every question we can possibly think of, to ensure we have “covered all of our bases” for you, and in essence “plant any proverbial seeds” that may come to mind for additional tax deductions and savings for your benefit.

Here at Tax Goddess Business Services, PC, are always open and receptive to any and all questions, concerns, comments, and feedback. So please feel free to contact us at any time.

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PLEASE NOTE: As of late Aug 2018 there was a proposed law change that would disallow a double deduction for these charitable credits at the federal level for contributions made after Aug 2018. You are still eligible for the AZ state tax credits as the change would only impact your ability to take them as charity donations at the federal level.
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