Filing for an extension with the IRS?

**clovis** · #1 04/12/10, 09:48 PM

I am running late on filing my tax returns, which are due in just a few days. I really hate this. I've got a big construction project going on right now, and nearly nothing has gone right, thus putting me way behind on getting taxes filed.

I'll be filing a regular form with my wife's W-2 and a schedule C for me, since I am self employed/own a small business.

I am nearly positive that we will be getting a refund this year, as we normally do.

If I file for an extension, is there a penalty on the tax paid or the refund we will get?

Thanks in advance!!!!!

Ravenlost · #2 04/12/10, 10:07 PM

Nope. We've filed an extension every year for the past five years.

happycat · #3 04/12/10, 11:39 PM

No, there is no penalty if you're getting a refund.

If you think there is a chance you might owe, file the extension - you then have until 10/15/10 to send in your return, however do remember that if you do owe - you'll be charged interest & penalties from 4/15 onward - to the day you do pay (if anything).

sss3 · #4 04/13/10, 09:44 AM

Last year they charged me $54 just to file for the extension. Come to think of it, Don't know if IRS or Accountant did it.

Katey · #5 04/13/10, 09:54 AM

Filing for an extension is free and easy. Do it now; that will take the pressure off, and if you happen to get the taxes done on time, there's no harm done.

**clovis** · #6 04/13/10, 10:13 AM

Decisions, decisions.

I really hate not having these filed on time.

I have this construction project going on right now. The entire family, including me, had the cold bug (wife and daughter had pnuemonia also), it has been a tough late winter and early spring.

Why didn't I force myself to do the taxes in early January when we had the time, and everyone was healthy?

SueMc · #7 04/13/10, 11:01 AM

Here is an IRS page regarding this:

http://www.irs.gov/irs/article/0,,id=206233,00.html

**clovis** · #8 04/13/10, 12:26 PM

Thank you for finding that SueMc!!!!!!

I thought about searching the IRS site, but was so busy trying to get them done that I opted to keep working on them. Sometimes it can take an hour to find something like that.

Again, thank you!!!!!!!!!

michiganfarmer · #9 04/13/10, 02:19 PM

dont know. I file the last week of january as soon as my wifes W2 gets in

SueMc · #10 04/13/10, 04:35 PM

You're welcome Clovis

ldc · #11 04/13/10, 06:02 PM

And Clovis, for 2009 - when you get around to it! - there is a brand-new deduction: Line 63 (1040) says for workers and the retired see Schedule M in the book. When it works, it's $400 for each adult. Good to hear you're working! ldc

**clovis** · #12 04/13/10, 11:07 PM

Quote:

Originally Posted by ldc

And Clovis, for 2009 - when you get around to it! - there is a brand-new deduction: Line 63 (1040) says for workers and the retired see Schedule M in the book. When it works, it's $400 for each adult. Good to hear you're working! ldc

Thanks for the FYI!

I'm not old enough to retire...just 23 years to go.

I'll definately check into that.

I think I'll focus on taxes this weekend.