FOR BREAKING NEWS VISIT www.queenscourier.com APRIL 11, 2013 • THE QUEENS COURIER 23 s tax tips “Two Decades Of Personalized Service” [email protected] COMMIT TO BE FIT ONE-ON-ONE PERSONAL TRAINING GROUP CLASSES AVAILABLE ALL AGES. ALL FITNESS LEVELS. ALL ABILITIES. THE FITNESS CONSULTANT Celebrating Our 24th Anniversary! 208-52 Cross Island Pkwy • Bayside 718.352.9075 2011 st www.tfc-gym.com FREE TRAINING SESSION CALL TODAY of the THE QUEENS QueensCourier.com Place Tax Procrastinators Don’t Fear, Extensions are Here BY BARRY LISAK Barry Lisak, EA, is an IRS Enrolled Agent who has operated a tax preparation offi ce for over 30 years. Any questions or comments, please contact [email protected] or 516-829-7283. Can’t make the April 15 taxfiling deadline and need more time to file your tax return? You can get an automatic six-month extension of time to file from the IRS. Here are important things you need to know about filing an extension: 1. File on time even if you can’t pay in full. If your return is completed but you are unable to pay the full amount of tax due, do not request an extension. File your tax return on time and pay as much as you can. The IRS will send you a bill or notice for the balance due. If you are unable to make payments, call the IRS at 800-829-1040 to discuss your options. 2. Extra time to file. An extension will give you extra time to get your paperwork to the IRS, but it does not extend the time you have to pay any tax due. You will owe interest on any amount not paid by the April 15th deadline, plus you may owe tax penalties. 3. Form to file. Request an extension by submitting Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, to the IRS by April 15th. The IRS does not require taxpayers to explain or give reasons for their tax extension requests. The new extended due date for the tax return is October 15th. Many states have their own required tax extension forms. 4. E-file extension. You can e-file an extension request using tax preparation software with your own computer or by going to a tax preparer who has the software. The IRS will acknowledge receipt of the extension request if you file by computer. This will serve as proof of filing similar to certified mail, receipt requested. 5. Electronic funds withdrawal. If you ask for an extension via computer, you can also choose to pay any expected balance due by authorizing an electronic funds withdrawal from a checking or savings account. You will need the appropriate bank routing and account numbers.
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