The AICPA recently released a two-page FAQ document outlining what it means when your CPA says you need to extend. Download the FAQ below and find out:

  • What does a filing an extension do?
  • Why does my CPA suggest we extend my tax return?
  • Am I more likely to be audited if I extend?
  • What are the primary benefits of extending my tax return?
  • Should I do anything differently if I am filing an extension or “going on extension?”
  • Is there anything I can do to avoid filing an extension if I know I am missing some information now?
  • Have there been any changes to the due dates of returns for this year?