2018 Set a record for Extensions filed

This tax season saw an avalanche of extension requests.

The Tax Cuts and Jobs Act played a major role but it wasn’t the only factor.

There were two major drivers:

  • The complexity of tax reform
  • and the earlier deadline for filing for pass-through entities – Partnerships and S Corporations. This earlier deadline caused a ripple effect on 1040s, individuals did not not receive K-1s by April 15 so they had to file extensions.

In my opinion that earlier deadline was the major factor and was completely predictable.

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