October 15 is the tax filing deadline for people who filed an extension. On this 2-minute episode we will go over the risk of failing to submit your return.
If you miss the October 15 extended deadline and owe the IRS money. the IRS will compile a substitute return for you and then notify you about how much taxes you owe to the federal government. This substitute return will not take into consideration any exemptions or deductions to which you are entitled.
Once the IRS compiles and notifies you about the substitute return, it will begin collection activity against you.
But don’t worry, the proposed tax is not final. WYCOTAX can still help & reduce by applying possible credits & deductions. WYCOTAX is here to beat the deadline!