The Internal Revenue Service allows taxpayers to file for a 6-month extension if they need more time to prepare their tax return. You can obtain a tax extension for any reason; the IRS grants them automatically as long as you complete the proper form on time.
If you found yourself unable to meet the document deadline of March 15, 2018, or unable to complete your 2017 federal tax return by the April deadline (April 17 in 2018 for filing 2017 taxes), you’ll first need to file an extension with the IRS to avoid any potential late-filing or late payment penalties. Filing an extension will allow you to push your deadline back six months to October 15, 2018.
Clergy Financial Resources now has an easy option to file your extension. Complete the request form below. Once this information is submitted, we’ll file your extension and send you an email confirmation on April 17, 2018.
This extension is not an extension of time to pay. If you have not made all of your estimated payments for federal and state or anticipated a balance due for 2017, please forward this payment to the IRS/state prior to April 17, 2018. If you are unable to pay this balance due in full, you can still get the extension of time. However, the IRS may charge interest on the unpaid balance. This extension will expire on October 15, 2018.
In addition to this extension, your first quarterly estimated payment will be due on April 17, 2018. Please continue to pay the same estimated amount to federal/state as you have in the past. We will make the necessary adjustments to the balance of your payments during your tax review.
For your convenience, the following link includes the 2018 federal estimated tax vouchers and instructions. Many states now offer an online payment system, if you need to make state estimated payments.
Should you have any questions, please feel free to contact us.
Clergy Financial Resources serves as a resource for clients to help analyze the complexity of clergy tax law, church payroll & HR issues. Our professionals are committed to helping clients stay informed about tax news, developments and trends in various specialty areas.
This article is intended to provide readers with guidance in tax matters. The article does not constitute, and should not be treated as professional advice regarding the use of any particular tax technique. Every effort has been made to assure the accuracy of the information. Clergy Financial Resources and the author do not assume responsibility for any individual’s reliance upon the information provided in the article. Readers should independently verify all information before applying it to a particular fact situation, and should independently determine the impact of any particular tax planning technique. If you are seeking legal advice, you are encouraged to consult an attorney.
For more information or if you need additional assistance, please use the contact information below.
Clergy Financial Resources
11214 86th Avenue N.
Maple Grove, MN 55369
Tel: (763) 425-8778
Fax: (888) 876-5101