LIFamilies.com - Long Island, NY


RSS
Articles Business Directory Blog Real Estate Community Forum Shop My Family Contests

Log In Chat Index Search Rules Lingo Create Account

Quick navigation:   

Has anyone filed for an extension on their taxes?

Posted By Message

CathyB

Member since 5/05

19403 total posts

Name:

Has anyone filed for an extension on their taxes?

How does this work? We just found out that we most likely won't have tax information from one of our investments by the deadline. Thanks.

Posted 1/31/06 10:48 AM
 
Long Island Weddings
Long Island's Largest Bridal Resource

MrsProfessor
hi

Member since 5/05

14279 total posts

Name:

Re: Has anyone filed for an extension on their taxes?

I did once, in '97, I think. My accountant told me which forms I needed, and I got them from a big binder in my local libary. It was very easy. I am sure now that you can get any forms from the 'net. Your tax person can tell you specifically which ones you need, then I think you have till September or so to file.

Posted 1/31/06 10:53 AM
 

BriBri2u
L'amore vince sempre

Member since 5/05

9320 total posts

Name:
Mrs. B

Re: Has anyone filed for an extension on their taxes?

You would file the extension form by the 15th of April and it gives you until the 15th of August to file your original return. If you need additional time come August you can file another extension - which would give you until the 15th of October

IRS Form # 4868
NYS Form # IT-372

Message edited 1/31/2006 10:55:25 AM.

Posted 1/31/06 10:54 AM
 

CathyB

Member since 5/05

19403 total posts

Name:

Re: Has anyone filed for an extension on their taxes?

Thanks! We didn't know how complicated it would be.

Posted 1/31/06 10:54 AM
 

CookiePuss
Cake from Outer Space!

Member since 5/05

14021 total posts

Name:

Re: Has anyone filed for an extension on their taxes?

You only need to file an extension if you own money to the IRS because you have to pay it up front. If you believe you will be getting money back, you really don't have to file an extenstion.

Posted 1/31/06 11:04 AM
 

mommy2Alex
3 babies for me :)

Member since 5/05

6683 total posts

Name:

Re: Has anyone filed for an extension on their taxes?

The last 2 years we filed extensions because we were living overseas and our taxes took longer to prepare. Just know that if you owe money, even if you have an extension it is still due April 15th otherwise you must pay interest. So annoying Chat Icon

Posted 1/31/06 11:05 AM
 

MrsProfessor
hi

Member since 5/05

14279 total posts

Name:

Re: Has anyone filed for an extension on their taxes?

Posted by shamrock12472

You only need to file an extension if you own money to the IRS because you have to pay it up front. If you believe you will be getting money back, you really don't have to file an extenstion.



I didn't know this! But I do recall that the IRS expected you to estimate the amount you thought you'd owe, and send it. I didn't do this because I knew I would get a refund.

Posted 1/31/06 11:05 AM
 

CookiePuss
Cake from Outer Space!

Member since 5/05

14021 total posts

Name:

Re: Has anyone filed for an extension on their taxes?

Posted by MrsProfessor

Posted by shamrock12472

You only need to file an extension if you own money to the IRS because you have to pay it up front. If you believe you will be getting money back, you really don't have to file an extenstion.



I didn't know this! But I do recall that the IRS expected you to estimate the amount you thought you'd owe, and send it. I didn't do this because I knew I would get a refund.



Yup- The IRS is in no hurry to send YOU money so they don't require you file an extension. You have up to 3 years to file too. It's completely different if you owe money though - because then you do have to file an extension and pay your estimated tax.

Posted 1/31/06 11:07 AM
 

PrincessP
Big sister!!!!!!!!!!

Member since 12/05

17450 total posts

Name:

Re: Has anyone filed for an extension on their taxes?

I did last yr and they gave me until August.

Posted 1/31/06 11:09 AM
 

Christine
2nd verse same as the 1st

Member since 5/05

15287 total posts

Name:

Re: Has anyone filed for an extension on their taxes?

You still need to file an extension even if you are expecting a refund otherwise you will get slapped with late filing penalties & interest.

Posted 1/31/06 11:19 AM
 

CookiePuss
Cake from Outer Space!

Member since 5/05

14021 total posts

Name:

Re: Has anyone filed for an extension on their taxes?

Posted by Christine

You still need to file an extension even if you are expecting a refund otherwise you will get slapped with late filing penalties & interest.



Not when you get a refund - there isn't anything to penalize or to build interest on. I have a few clients that do this and they have yet to be charged anything when getting money back.

Posted 1/31/06 11:39 AM
 
 

Potentially Related Topics:

Topic Posted By Started Replies Forum
Anyone ever get an extension on their taxes?? Mrs-Boop 4/15/06 4 Families Helping Families ™
Those that E-filed their taxes.... GraciesMom 2/23/06 6 Families Helping Families ™
We did our taxes and.. GenLCSW 3/22/06 6 Families Helping Families ™
Grieving Nassau County taxes -- karacg 3/1/06 15 Home
Did anyone tally up their medical bills for taxes yet? LisaW 2/28/06 16 Infertility
How did you do on your taxes? charon54 2/28/06 20 Families Helping Families ™
 
Quick navigation:   
Currently 1396938 users on the LIFamilies.com Chat
New Businesses
1 More Rep
Carleton Hall of East Islip
J&A Building Services
LaraMae Health Coaching
Sonic Wellness
Julbaby Photography LLC
Ideal Uniforms
Teresa Geraghty Photography
Camelot Dream Homes
Long Island Wedding Boutique
MB Febus- Rodan & Fields
Camp Harbor
Market America-Shop.com
ACM Basement Waterproofing
Travel Tom

      Follow LIWeddings on Facebook

      Follow LIFamilies on Twitter
Long Island Bridal Shows