Contrary to popular belief — and what some suggest — filing for an extension isn’t an audit trigger.
The tax filing deadline for individual taxpayers is just a week away. If you’ve been pushing off filing, you may want to consider filing for an extension. It only takes a few minutes, there are no special hoops to jump through, and there’s no fee payable to the Internal Revenue Service (IRS). And contrary to popular belief — and what some suggest this time of year — filing for an extension isn’t an audit trigger.
The IRS understands that there are legitimate reasons why taxpayers may need more time to file. The great thing about filing for an extension early on is that you don’t need to tell anyone — not your mother, not your best friend and not even the IRS — why you’re making the request since the extension is automatically granted if you follow the rules.
