Panorama Community Magazine
Filing An Extension — Do You Need It? What Does It Mean? Tax returns are “due April 18”. What does this really mean? It means that the return, the report and the taxes are due April 18, but you can file an extension which gives you until October 15 to file the report, however the taxes are due April 18. If you file an extension and owe money you must pay it with the extension or you will still pay late payment fees and interest. The penalty and interest you save are for the late filing fee. If you have a refund due, you really do not have to file an extension. You
have up to three years to file your return to get your refund. So for 2021 taxes, you have until April 15, 2025 to file and get your money back. Now, the exception the rule, Berkheimer local taxes, you MUST file an extension to avoid the $25.00 late filing fee. And, they require proof of an accepted extension to the Federal or PA return. Identity theft this year is causing a big hiccup in extensions for 2021. Since ID Theft is rampant extensions for Honest Abe customers will be
filed April 12. This will give us ample time to file the extension, and if your extension is rejected due to ID theft saying a return is already filed, we will have time to deal with the problem. Also, for our annual tax customers, who we see only at tax time, due to volume and past experience we are no longer doing “courtesy extensions”. If you need an extension, you must contact us and confirm you need an extension. New customers are welcome that need an extension to file. Again, we ask that you come in before April 12, there will be a fee of $40, which will be applied to your tax preparation. Call us today, 570-668-8297, or come see us at 259 Claremont Avenue, Hometown, Tamaqua, PA. We have a full staff to serve you Monday through Saturday.
Continued from previous page to review where your money is going and if your spending is in line with the financial goals you’ve set. This is also an opportunity to look for ways to reduce or eliminate spending so your money can be used for things that are important to you, like saving for a down payment on a car or home, or purchasing an item from your wish list. Expand Your Financial Knowledge Explore ways to become more comfortable with money and take control
of your financial future. Your relationship with money and how you feel about it make up your money story. Money stories involve emotions, beliefs and experiences with money from childhood to adulthood. Start by spending 1020 minutes each day exploring topics around money or personal finances to help build your knowledge base. You can do this by listening to podcasts, reading books, browsing reputable personal finance websites or exploring financial education resources provided by your financial institution. If you need a more personalized approach to developing a better relationship with your finances, explore working with a financial coach. Your
financial coach can work with you on a range of fundamental money management skills. For example, a financial coach can help you overcome financial anxiety or come up with a debt repayment strategy. The coach can help guide, teach, empower and challenge you to grow into a savvy money user. When determining your financial health, remember personal finance is personal. The financial decisions you make today impact your overall financial health. Determine what financial success looks like for you and incorporate mindfulness, resources and other financially beneficial strategies to help improve your relationship with your finances.
By Alice Horton-Barr, CEO, Honest Abe's Taxes, Inc.
Mon.-Fri. 10am-8pm Sat. 11am-8pm Sun. 1-5pm
30 Years
Experience!!
JACK MUNDIE TAXSERVICE
NEXT TO BOSCOV’S Laurel Mall 570-455-4999 Fax570-459-9789 • Cell 570-401-8568 Email mundie@ptd.net Drop off, mail, email, fax or text me your infotoday!
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