Tax Extension Next Steps: How to Prepare Before the October Deadline

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Filed a tax extension this year? You’re not alone- and you’re not behind. Extensions are a smart way to give yourself breathing room when tax season gets a little too chaotic. But remember, the clock is still ticking. Let’s dive into your next steps after filing a tax extension and how to prepare before the October deadline.

At The Clever Ledger Bookkeeper LLC, we believe staying organized is the best way to stay stress-free. Here’s what you need to know now that your extension is on file- and how to wrap up your taxes without the scramble.

First Things First: What’s Due and When?

• New Filing Deadline: October 15
  • That’s the official IRS cutoff to file your extended return. No more wiggle room after that.
• Taxes Owed Were Still Due April 15
  • If you owed money in April and didn’t pay at that time, you may have interest or penalties accruing.
• State Tax Extensions May Vary
  • Not all states follow the same timeline as the IRS. If you’re in a state with income tax, double-check their extension rules.

Now What? Your Post-Extension To-Do List

1. 📁Collect Any Remaining Documents
   • If you filed an extension because you were missing documents- now’s the time to chase them down. Think:
     • 1099s, W-2s, K-1s
     • Business expenses
     • Bank and investment statements
     • Charitable donations
     • Mortgage or student loan interest
   • 🗄️Pro Tip: Create a “2024 Taxes” folder in your email or cloud storage and drop everything here.
2. ⏰Schedule Time With Your Bookkeeper or Tax Preparer
   • The earlier we meet, the easier it is to plan ahead- especially if anything looks unusual. Avoid the October crunch by touching base now.
3. 🏠Review Big Life or Business Changes
   • Moved to a new state? Got married? Launched a side hustle? Let your tax pro know. Even small changes can makes a big difference in your return.
4. 💲Make an Estimated Tax Payment If Needed
   • Didn’t pay your full tax due in April? You can still send a payment now to reduce interest and penalties. Use IRS Direct Pay or your tax professional’s guidance.

How to Stay Organized & Avoid Extension Season Stress

• 📋Use a Tax Prep Checklist
  • We’ve got one ready for you- just ask! It’s the easiest way to make sure nothing gets missed.
• ⏳Set Aside One “Tax Prep Day”
  • Pick a morning, grab a coffee, and knock it out. Even a few hours can save you major stress in October.
• 🔐Use Our Secure Portal
  • Send documents quickly and securely without digging through email threads or worrying about privacy. Not sure how? We’ll walk you through it.
• ❓Ask Questions Early
  • If something doesn’t make sense- reach out now, not later. We’re here to help make taxes less overwhelming.

Bottom Line- You’ve Got Time- Use It Well

Filing an extension isn’t a setback. It’s a smart strategy when life gets busy. But don’t let the October 15 deadline sneak up on you.

We’re here to make sure you cross the finish line calmly, confidently, and with everything in place.

Need help gathering your documents or planning your next step? Let’s chat. Your books (and your future self) will thank you. You can connect with us here!