With the April 18th deadline behind us, we'd be remiss if we didn't take a moment to say "THANK YOU" for your continued business! We greatly appreciate it and do not take it for granted.

In addition, a special shout out to those of you that referred new clients to us! These referrals helped us expand our business and we are very grateful that you trusted us to support the tax needs of your friends and colleagues!

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We are hopeful we have earned a 5 star rating and that you can share your comments with others. If not, we'd love to set up a call with you to discuss how we can improve our services - thanks!

For those of you that filed extensions, a few reminders

• September 15th - this is the final due date for the business returns (C-corporations, S-corporations and Partnerships) that were extended.
• October 16th - this is the final due date for the personal returns that were extended.
• Remember that the extension only extends the time to file your actual return, not the time to pay taxes if you owe them.
• If you are due a refund, there is no penalty or interest due when you ultimately file your 2022 return.
• However, if you owe money, you are subject to a failure to pay (FTP) penalty of .5% (that's half of one percent) of the balance you owe for each month or partial month the balance is outstanding.
• In addition the IRS will levy interest on the balance outstanding as you are essentially taking out a loan from them. The rate is calculated based upon the federal short term interest rate plus 3%. As a result, the IRS interest rate is currently 7% annually (but they do compound daily in their calculation of interest owed).
• Several of you that filed extensions have already sent us your data and we are working on completing those returns as quickly as possible.
• For those that have not gotten us data yet, please plan ahead to get us the data well before the extension deadlines noted above. If you miss those deadlines, you are then subject to failure to file (FTF) penalties which are higher.