To make the most of superseding returns, CPAs should consider filing extensions
even for taxpayers who will ultimately file their returns on the original due date.
You can arrange now to request automatic six-month filing extensions
for such clients, pushing the deadline back to October 15, while scheduling meetings before April 15 to discuss how much they'll pay when their Form 4868 is filed.
Taxpayers who take advantage of the filing extensions
, but don't pay their estimated taxes due, begin getting charged interest, compounded daily.
However, the Service has denied most letter ruling requests for MTM-method filing extensions
; it believes such extensions permit taxpayers to use hindsight to lower their tax liability, and that relief should be granted only in unusual or compelling circumstances.
Chapter 1 begins with which form to file, and Chapter 46 ends with electronic filing, IRS audits, filing extensions
, and amended returns.
The new rules do not change the current method for filing extensions
for corporate income tax returns; rather, they broaden its scope.
Although many of his patents were assigned in the 1950s and 1960s and would have expired years ago, Lemelson was able to extend their life by repeatedly filing extensions
and amendments to the original claims.
Most banks, brokers and mutual fund companies will help you set up a SEP with a minimum of aggravation and make "look-back" (to 1998) contributions until the due date of your return, including filing extensions
. "Generally, you can contribute up to approximately 13% of your self-employment income to a SEP each year," says Torella.
annual APA report filing deadline is 90 days after the related tax return filing deadline (including filing extensions
1.6081-3T does not change the rules for filing extensions
for corporate income tax returns; rather, it expands the scope of formerly titled Form 7004, Application for Automatic Extension of Time to File Corporation Income Tax Return, from just corporate taxpayers, to partnerships, real estate mortgage investment conduits, certain trusts that previously filed Form 8736 (now made obsolete) and taxpayers that previously requested additional time to file certain excise, income, information and other returns by submitting Form 2758 (now made obsolete).
What are the respective due dates for filing returns, making estimated payments and filing extensions