If you filed an extension for your 2024 insurance agency tax return, then it’s important to be prepared to submit your taxes by September 15th or October 15th depending on your filing type. Although technically, your estimate of taxes due would have been paid by April 15th, many extenders may choose to defer amounts due until the extended return is filed, incurring interest and penalties.
If you’re in the group that needs to make payments with the upcoming filing of your return but are short on cash, we may be able to help.
Finance the Fees
One way to avoid increasing penalties and interest to the IRS is to consider a working capital loan to cover the taxes you owe. Since those fees can increase each day that you’re past due, it’s important to resolve this issue quickly.
We’re here to help. Our specialized lenders understand the needs of insurance agents and the unique financial challenges they face. That’s why we may be able to offer you a short-term loan to address a capital shortfall — whether it’s due to taxes or a different impending need.
Please reach out to one of our agency finance team members to determine if this is a good option for your specific situation. Please email us at agencyfinance@firstmid.com, call 877-894-2785 or fill out this online form to learn more.
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