What are the chances that senate extend deadline of tax credit for the new home buyers?
Almost zero. The credit is costing taxpayers millions and the money is going to people who can already afford to buy a house anyways. No one is spending a few hundred thousand bucks for a measly $8000 tax credit. All this is doing is artificially inflating home sales and prices for a short term....only to kill the market again once it is lifted. Once the government lets the market correct itself, only then will things be able to get better.
A tax payer can receive an automatic 6 month extent ion of time to file their federal return. You must file form 4868 (application for automatic extension of time to file a US individual income tax return) This form must be filed by April 17th. I hope this helps. You can go to IRS.GOV
Does form 8453-OL need to be mailed by the tax deadline?
I just got off the phone with the IRS. The 8453-OL has to be sent as soon as possible but it does NOT have to be postmarked by 4/17/07. The official date of your filing is when the IRS accepted your transmission! (and as an fyi that is NOT when the TaxCut or Turbotax transmits the filing!)
Also, if you first e-filed and it was rejected your deadline gets extended to April 22, 2007 for refiling. See second to last question here: http://www.irs.gov/efile/article/0,,id=98294,00.html
Does placing a tax file extension in a postal box by 12am meet the deadline?
If the post office is open until midnight and you put it in the box they collect at midnight -yes.
If you mean just any old post box.....no.
It has to be stamped by the 15th so get the extension in today or early tomorrow to be safe.
I know the deadline is tax day, but can I start depositing funds for my Roth IRA as of Jan 1st?
You can fund your IRAs anytime during the year up until the next years tax date. So Jan 1st 2007 to Apr 15th 2008 for 2007 tax year. Make sure you make notes on the check so your broker knows what year you're making deposits for ...
I find it easier to do it ~quarterly when I pay my estimated taxes, so I dollar cost average.
If my company's fiscal year ends on February 28, 2007, what's the deadline to file income tax returns?
Are you talking individual income tax or business tax ?
Individual is due April 15th, and the company's fiscal year is irrelevant. Employee statements are due no later than the end of Jan and personal income tax is April 15th.
Company income taxes are due quarterly .
Is there a deadline for tax return refunds that are being giving out in US?
I think you are asking about how long will the IRS mail out the Stimulus Checks. While October 15, is the deadline to file and receive a Stimulus Check, the IRS is mailing the checks out until the end of the year.
There will also, be a place on the 2008 return to claim the Stimulus if you do not receive a check this year.
If you have filed your return, had income of at least $3,000 and were not claimed as a dependent on another persons return then you qualify for the Stimulus. If you check on the IRS web site at www.irs.gov you can check to see when the IRS is going to mail the Stimulus Check to you. By chance if the check has already been mailed and you have not receive it call the IRS at (800) 829-1040 or complete Form 3911, write Stimulus across the top of the form and mail it to the IRS office where you filed your return. Both the form and the IRS office address can be found on the IRS web site.
Hope this helps.
OH CRAP! What Do I Do If I Forgot About Tax Deadline?
File an Extension RIGHT NOW it is free:
Go to the following website http://turbotax.intuit.com/
at the search icon type Extension.
When the page comes up choose
1. Filing an Income Tax Extension
You will see the following:
Free E-file with Turbo Tax Easy Extension
Just follow the instructions. Good Luck
Why is the tax deadline April 18th this year instead of the traditional April 15th?
April 16 is Emancipation Day a district holiday (similar to a state holiday) in the District of Columbia. When DC holidays fall on Saturday they are observed on Friday and when they fall fall on Sunday they are observed on Monday. If the deadline is a holiday in the state where your return gets filed, everyone who has to file there gets an extension to the next weekday that is not a holiday. This used to regularly happen to those who had to file in Massachusetts where Patriots Day is the third Monday in April. But when the deadline falls on a DC holdiay, everyone gets an extension to the next weekday that is not a holiday.
Filed Tax Form before deadline but haven't sent yet. What are the consequences?
From what you say, your friend PREPARED your taxes, she didn't file them - filing means actually sending them to the IRS, either electronically or by mail. If they weren't filed electronically, and you were supposed to mail them and didn't, then they aren't filed. Mail them as soon as possible.
On your federal return, if you have a refund coming there won't be any penalty except the delay in getting it. If you owe, then there will be a penalty.
For state, their might or might not be a penalty depending on what state you're in.
Usually some one told me is not usually very good correct information most of the time.
Why not get unconfused by reading the below information from the IRS.
The due date and return due dates for each form can be found by selecting the Forms 1040 and 4868
Forms 1040 and 4868 must have a tax period ending date of December 31, 2010 to be submitted through Modernized e-File (MeF).
Forms 1040/4868 due date - 04/18/2011
Forms 1040/4868 overseas exception due date - 06/15/2011
Form 1040 filed under an approved extension due date - 10/17/2011
Hope that you find the above enclosed information useful for your situation.
What is the deadline for employers to get all tax papers to employees?
They are supposed to be mailed by 1/31 but the reality is that smaller businesses don't always get them out in a timely fashion. Both my husband and I have had to wait until as late as 2/28 for some of our 1099s to arrive.
All you can do at this point is for your husband to call the company he subcontracts to and ask if 1) they issue 1099s to their subs and if so, 2) when he can swing by to pick up his 1099.
Why is the tax filing deadline later than usual this year?
So what's the deal? In 2011, Washington, D.C., will celebrate Emancipation Day on April 15, a day earlier than normal, since April 16 falls on a Saturday. Emancipation Day marks the anniversary of the day that President Lincoln signed the Compensated Emancipation Act.
Follow up about incurring penalties if I wait to pay taxes until Apr 2009 - deadline for est. tax payment ?
The first installment is due on April 15. If you choose, you can divide the amount you need to pay by four and spread it over the four quarters. The other payments are due 6/16/08, 9/15/08 and 1/15/09.
They're starting to talk about it but there are no guarantees until congress passes it and the president signs it.
My guess is that they won't just "extend" the deadline. Knowing congress, they'll find some way to change it, either change the amount, or change the restrictions, but that's just my guess. They might not even extend it at all.
Currently, the only thing that is certain is the $8,000 for first time buyers who close on or before November 30th 2009.
I have already filed my 2006 tax return. If I open a Roth IRA by tax deadline, do I have to amend my return?
You don't have to amend your return, since Roth IRAs are not deductable. Your financial institution reports contributions, so don't worry about that. It's a good idea to put in $4000 before April 17th for 2006, that way you squeeze in more contribution. More info here: http://www.rothira.com/
Is there any connection between the normal IRS tax deadline and the Titanic sinking date being on April 15?
Actually, if you're using lame analogies, there is a better one, although much cruder.
Abraham Lincoln introduced the first US income tax in order to fund the Civil War. In a weird coincidence, he was shot on April 14, 1865 and died the following morning, April 15.
the company i used to work for cant send me my w2 until after the tax deadline and extensions require payment?
You need to file an extension post-marked TODAY and include an estimated payment. If you don't know how much you made, take a look at your last pay stub from December. It should give you a good idea of how much tax you've had withheld and how much you made last year. It is better to over-pay and get a refund when you actually file your return. If you dont pay enough now, the IRS will add interest and penalty when you do file your return.
For tax deadline Oct 15th, does the payment need to be stamped by Oct 15th or arrive at IRS center by Oct 15th?
The late payment penalties and interest will stop on the date that it's postmarked, if the postmark is legible. If it's not legible, the date that the IRS receives it.
Payment due dates cannot be extended; you were granted an extension of time to FILE, not an extension of time to PAY. You WILL be billed for the late payment penalties and interest from April 15th until the date that the IRS receives payment or the postmark date as noted above.
If you turned 18 after the tax deadline and then you get a job do you have to pay taxes for this year?
Paying tax doesn't depend on age, it depends on how much you make.
Income is taxable for the year you make it. Right now the tax returns that were just filed were for 2007 income. If you make income in 2008, you'll file a return in 2009.
If you owe tax and don't file on time, the total late–filing penalty is usually four and one-half percent of the tax owed for each month, or part of a month, that your return is late up to five months. If your return is over 60 days late, the minimum penalty for late filing is the smaller of $100 or 100 percent of the tax owed.
There is no penalty for failure to file a tax return if a refund is due. But by waiting too long to file, you can lose your refund. In order to receive a refund, the return must be filed within 3 years of the due date. If you file a return, and later realize you made an error on the return, the deadline for claiming any refund due is three years after the return was filed, or two years after the tax was paid, whichever expires later.
Yes, very soon - October 15. It just has to be postmarked by then, not received by the IRS.
The extension was just to file, not an extension to pay, so if you owe and didn't pay by April, you will owe interest and possible penalties.
Is an excess Roth IRA contribution taxable when withdrawing it after the tax filing deadline with extension?
You need to withdraw the $2,000 plus any earnings attributable to the $2,000.
You will pay an excise tax of 6% on the $2,000.
You will pay income tax plus a 10% penalty on any earnings that have been withdrawn.
California state income tax deadline change made me miss the deadline. Can I protest against the fine?
CA's deadline wasn't changed. It has always been April 15th! The deadline has always corresponded with the federal deadline.
If you filed on May 1st that is your fault and the penalty is 100% legitimate. Sorry - TurboTax would have indicated the filing deadline.
Is it cheaper to get taxes done after tax deadline?
I work for a tax company...and we don't raise the price at any point in the year.... but a lot of the companies close after the 15th and THEN there will be a lot more demand at the few places that are still open - plus if you file after the 15th you will owe fees and penalties... if you owe...if you are expecting a refund, then what are you waiting for????
If I were you, I'd be on the safe side and get it filed.
On the other hand, my husband wouldn't do taxes for a few years - he decided it was unconstitutional. When he finally let me do them we had several years to catch up on - penalties for those we owed, and refunds for a few years. The refunds were not reduced by penalties for not having been submitted on time. From what I read on this at the time, you have 3 years to get your refund or you lose it. I don't like messing around with that kind of stuff, though.
That's the Federal deadline. Some states have adopted it as well, such as CA while others have not, such as MO. MA is also the 17th but only because the 16th is a State holiday -- Patriots Day. Check with your state's tax authorities to see what your state is doing.