This afternoon, I was sent this VERY TIMELY email from the very informative site, FeedThePig.org ( an affiliate of AICPA.org):
“In the event that you’re not able to file your income tax return by April 15th, both the IRS and states allow you to extend your filing deadline by six months. Don’t be fooled however — an extension to file is not an extension to pay. Penalties, including fines and interest, may be assessed for a payment made after April 15th. To request an extension to file, submit Form 4868 to the IRS by April 15, 2009. Locate the following information before filling out Form 4868:
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- A copy of your 2007 tax return
- How much money you have already paid in taxes for 2008
- Your 2008 tax liability
- Your bank account and routing number (if you owe taxes)
If your return is completed but you are unable to pay the full amount of tax due, do not request an extension. File your return on time and pay as much as you can. The IRS will send you a bill or notice for the balance due. The IRS offers taxpayers who owe less than $25,000 to apply on line for an installment payment plan or you can file IRS Form 9465 with your return.”
Joan Jackson, Publisher
Author of e-booklet, 101 Online Financial Calculators Every Entrepreneur (and Everyone!) Needs
