In this quick but informative episode of ‘Dr. Friday Tax Tips – One Minute Moment,’ Dr. Friday, the President of Dr. Friday’s Tax and Financial Firm, emphasizes the significant financial benefits of filing tax extensions early. Discussing the potential 25% penalty for late filings, which accrues at a rate of 5% per month, Dr. Friday advises listeners to consider filing an extension form 48-68, even if they anticipate meeting the April 15th deadline. This strategy provides a safety net, protecting taxpayers from unexpected delays and penalties. Additionally, Dr. Friday reminds listeners of her weekly call-in show on 99.7 WTN, every Saturday from 2-3 PM, for more financial insights.
G’day, I’m Dr. Friday, President of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment.
And I know you’re gonna be saying, “Friday, why are you already talking about extensions?” Because if you file an extension you can save a penalty of 25% – 5% per a month for however late you are. And it’s just such a huge savings that if you think for any reason you may not be able to make that April 15th deadline, you know what? Even if you do make the April 15th deadline there is no penalty for filing an extension today and then something happens and you’re not able to file, you still have that protection. So even if you are gonna make April 15th, I suggest filing a 48-68 just for protection.
You can catch the Dr. Friday call in show live every Saturday afternoon from 2-3 PM, right here on 99.7 WTN.