What happens if you file your taxes late?
By Jim Flauaus, Your Tax Problem Solver
(Anchor Tax Relief LLC)
Since the tax filing deadline comes at the busiest time of year for Realtors, many agents and brokers opt to file for an automatic extension to file with the IRS.That will push the deadline for S Corp filers to Sept 15... even Oct 15 for many LLC and sole proprietors. The problem is, with the crazy busy real estate market this year, maybe a late summer vacation, and now kids back in school, many Realtors still aren't ready to file!So what happens if you file late?No, you can't ask for another extension. You already got one - a six month extension - and you don't get another. At least not without reasonable cause. What's reasonable cause? Think fire, natural disaster, serious illness and the like."I'm too busy" or "I don't have the money" don't qualify as legit excuses for avoiding IRS p...
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