Tax season is upon us once again, and with it comes the inevitable stress of trying to piece together your taxes. Whether you’re a business owner or an individual taxpayer, it can be hard to keep track of all the different taxes you may be responsible for. In this blog post, we are going to provide you with three reasons why you should consider looking into tax extensions.
If you are considering filing for an extension of time to file your taxes, you may visit IRSExtension.
Image Source: Google
Here are three reasons why you should look at tax extension:
1. There's been bipartisan support for reform: Both Democrats and Republicans have voiced support for overhauling the tax code, which suggests that there could be some potentially bipartisan agreement on new legislation.
Although it's too early to say exactly what form this might take, anything that leads to simplification and lower taxes would likely be welcomed by most taxpayers.
2. Changes could come sooner rather than later: President-elect Donald Trump has indicated that he plans to get started on overhauling the tax system as soon as he takes office, which suggests that changes may happen relatively quickly.
3. The complexity of the current system is a major concern: According to IRS data, more than 90% of taxpayers use at least one piece of taxpayer software to prepare their taxes each year – meaning that many people are struggling with a complicated system that doesn't seem to be working well for them.