Pros and Cons of Getting a Tax Extension
Your federal income tax return is due on July 15. However, if that deadline doesn't suit you for whatever reason, it's pretty easy to get the due date extended to October 15. All you have to do is file a simple IRS form or pay your taxes electronically (see Tax Extension: How to Get More Time to File Your Tax Return for details). Make sure you act before midnight on July 15, though.
Since the process is relatively simple and straightforward, should you get a tax extension? Well, it depends. There are advantages and disadvantages to pushing back your tax filing deadline. So, it really comes down to your own situation. What makes sense for you? To help you answer that question, here are a few pros and cons of waiting to file your tax return.
Pro: You Get More Time to File
If you just can't file your return by the July 15 deadline, then by all means get
