HI All, Just a point of information. If you have not filed your 2012 tax return, my advice is to file for an extension to play it safe, Once the Extension is filed you will have until October 15, 2013 to complete and mail or e-file your return. Also check to see if you need an extension for your state, some states require that you also file with them for an extension. but check with the DOR website for your home state, the others accept your extension with your federal copy. Here is what an extension can help and will definitely not help as far as any taxes owed. #1 It will save a late filing Penalty of between 22-25%, #2 It will not stop any additional interest, or penalties from being added until it is paid. #3 it must be paid and filed together unless you arrange to file for an installment agreement , the interest and penalties will also apply but on the unpaid balance each month. So my advice is to file an extension if you feel you owe taxes, If you are going to receive a refund there are no penalties or interest charged. [h=1]Franklin Katz, ATP, PA, PB[/h][h=1]Frank's Tax & Business Service[/h][h=1]315 E. King St.[/h][h=1]Kings Mountain, NC 28086[/h][h=1][/h][h=1]704-739-4039 [/h][h=1]E-Mail: [email protected])[/h][h=1]Web: www.prep.1040.com/frankstax[/h][h=1]
Circular 230Disclaimer[/h]Circular230: To ensure compliance with the requirements imposed by the IRS, we inform you that any tax advicecontained in our communication (including any attachments) was not intended orwritten to be used, and cannot be used, for the purpose of (i) avoiding any taxpenalty or (ii) promoting, marketing or recommending to another party anytransaction or matter addressed herein.
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Circular 230Disclaimer[/h]Circular230: To ensure compliance with the requirements imposed by the IRS, we inform you that any tax advicecontained in our communication (including any attachments) was not intended orwritten to be used, and cannot be used, for the purpose of (i) avoiding any taxpenalty or (ii) promoting, marketing or recommending to another party anytransaction or matter addressed herein.
Our advice in our communication is limited to the conclusions specifically setforth herein and is based on the completeness and accuracy of the facts andassumptions as stated. Our advice may consider tax authorities that are subjectto change, retroactively and/or prospectively. Such changes could affect thevalidity of our advice. Our advice will not be updated for subsequent changesor modifications to applicable law and regulations, or to the judicial andadministrative interpretations thereof.
Legally privileged and/or confidential information may be contained in ourcommunication; it is intended exclusively for the addressee. Opinions,conclusions and other information expressed in our communication are subject tothe terms and conditions expressed in the governing client engagement letter.If you are not the addressee (or designated representative) indicated in thismessage, you may not disclose, copy, or distribute this message to anyone.Action taken or omitted based on our communication is prohibited and may beunlawful.