I still have returns to finish. Most of them I’ve had since April but the client needed more time to find paperwork so they were extended. Unfortunately, they have never gotten the missing info back to me. And I do have one extended return that the taxpayers haven’t gotten to me yet. I have heard from them but they are still procrastinating.
So what can you do if you’re not going to make the October15th deadline? You need to get the return finished and filed as soon as you can. That depends on you. It’s not your tax pro’s job to chase you down and get the information from you. You need to take responsibility for your return. That means calls and emails to get missing info from the sources. It means looking through papers to find the documents you need. Once you have the missing info, take it to the tax pro and get the return finished. If you are still compiling the info, take the time to get it done then you can go back to what was distracting you before.
This late in the game, be realistic and understand that a tax pro may not be able to complete your return by October 15th. You really can’t expect to walk in on Friday and have a return on Monday. It may happen but there’s a good chance it won’t. I bet yours isn’t the only return the preparer is finishing.
Will you owe interest and penalties if the return is late? That depends on whether the return has a refund or a balance due. If you’re getting a federal refund, there isn’t penalty or interest since those are calculated on the balance due. There might be a special type of state return with a late fee but your preparer can tell you about that. But if your return has a balance due, yes, there will be interest and penalties on top of the balance due. The sooner the return is filed and the balance due paid, the lower the penalties and interest will be.
The bottom line is that this is your return. If you won’t take getting it filed seriously, why should I re-arrange my schedule to accommodate your procrastination?