Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo
You are allowed to extend your tax return and ﬁle during the period of extension; that’s not a late-ﬁled return. A late-ﬁled return is ﬁled after the last extension has expired. this is what could undesirably cause Three Bad Things to happen.
Three bad things happen when you ﬁle your tax return late.
Bad Thing #1
The IRS notices that you ﬁled late or not at all.
Of course, the “I didn’t ﬁle at all” people receive the IRS’s “come on down and bring your tax records” ...