Due to any reason if you are not able to file your tax returns, Crescent Tax Filing will help you in getting 6 months of extension time to file your taxes, this does not grant you to pay the OWE amount later. 100% of your OWE amount should be paid before the tax filing due date in order to avoid interest and penalty.
Late Filing Penalty: A late filing penalty is usually charged if your tax return is filed after the due date (including extensions). The penalty is usually 5% of the amount due for each month or part of a month your return is late. The maximum penalty is 25%. If your return is more than 60 days late, the minimum penalty is $205 (adjusted for inflation) or the balance of the tax due on your return, whichever is smaller. You might not owe the penalty if you have a reasonable explanation for filing late.
We advise our Clients to pay the entire owe amount before the due date so that we can seek 6 months of extension time from IRS to file your taxes.