Tax Extension For Those Directly Affected By The Storm
The IRS is giving an additional 48 hours to those affected by the nasty storm that hit the northeast. From the IRS:
Taxpayers directly impacted by the storm have until midnight April 19 to meet their tax filing obligations without incurring late filing and payment penalties.Yippie?! —MEGHANN MARCOAcross the Northeast, there have been power outages and public transportation problems making it difficult in some cases, if not impossible, for some taxpayers and tax professionals to meet the April 17 filing deadline.
"Because this unusually forceful storm hit within 24 hours of the filing deadline, we are giving affected taxpayers 48 additional hours," IRS Commissioner Mark W. Everson said.
Affected taxpayers can mark their paper tax returns with the words "April 16 Storm." Taxpayers who e-file their returns can use their software's "disaster" feature, if available.
IRS Gives April 16 Storm Victims Additional 48 Hours to File Income Tax Returns [IRS] (Thanks, Lawrence!)
(Photo: Gare and Kitty)
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Comments:
lol i figured they were gonna make you include a note from your local sheriff.
i never got an extention in college for leaving my papers to the last minute.
Funny, I got my tax refund months ago...
Maybe people should be responsible and not put it off until the last moment.
@The Nature Boy (and jaredharley): If you owe the government money, it doesn't make sense to give it to them until the last possible moment. It's the same logic as getting your refund as early as possible (or even better, setting up your W-4s so that you minimize your withholding). You want to be the one earning interest on your money, not the government.
@tph: I understand that; but is the earned interest on your money worth so much that filing a week before the deadline would sink you financially? Are people that desperate to stick it to the government over a couple of dollars of interest earned over a week? (if they filed last week instead)
I dunno. Standing in line close to midnight on deadline day to file/mail my taxes seems asinine. It seems a little demented to want to stick it to Uncle Sam that badly, and earn a negligible amount of interest on your cash by waiting the extra week.
Most people who have to pay taxes and therefore delay payment on the deadline are either self-employed and are business owners. If one is successful and highly compensated, the check that is being made out to Uncle Sam has many zeros in it. Being safe is not kiting a check like that which means that one would have had to covert a large some from some investment vehicle or take it out of his/her business a least week before hand. Interest on checks like that are not negligible.
@The Nature Boy: I donno...I've only owed taxes once (a couple of hundred to state, but I was getting far more back from federal, so I filed both early). I can't see myself standing in line at 23:53, but I can see waiting until, say, lunchtime on the 17th out of spite.
Then when my car ends up floating downriver unexpectedly the day before, I can understand being in a bit of a pickle.
if you owe money to the feds or the state, you can do a direct debit from your savings or checking account at ANY time... i owed NY State $19 this year, i filed the return in february and specified to take the funds out of my account on 4.17.07 i just got notice today that the funds had been withdrawn. there really is no excuse to waiting until the last minute.
sweet! and i thought i was going to have to file an extension.
48 hours. wow. that definately gives people enough time to recovery from what could be a horrible loss. you know what they always say, the government and water don't mix.
I am one of those people who have to write the Treasury a check every year. My taxes have been done and sitting on my desk for a few weeks. I wrote the check, transfered the the funds and dropped the envelopes in the mail box this afternoon. No muss, no fuss, no shit on the fingers.
Never understood waiting until the very last day to do your taxes. Why? What's the point of putting yourself through that? Someone please enlighten me.