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226. From Civil to Criminal: Ensuring Real Estate Investors Stay Clear of Tax Troubles

Tax Smart Real Estate Investors Podcast

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The Importance of Filing Extensions

Filing an extension is not this right. You can file an extension by April 15th, and then you have until October 15th to file your tax return and you're still good. That's kind of like a presume public figure, make a statement sort of thing or set the example. Well, yes, it can be. Or as a simple as the property flipper who has the file tax returns in five years. If he's made $100,000 a year, for properties, that's $500,000 of unreported income. That probably will get you $ 100,000 in tax easily. And so, but when that date do is passed, then that becomes a

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