File or Extend?
#1
Posted 15 April 2011 - 07:30 AM
Or have you done one or the other already?
And who will be doing the midnight post stamp run tonight?
Contact me directly at Kamala@SingleDivers.com for your private or group travel needs or 864-557-6079 AND don't miss SD's 2018-2021 Trips! ....here! Most are once in a lifetime opportunities...don't miss the chance to go!!
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"Imitation is the sincerest flattery." - Gandhi
"Imitation is proof that originality is rare." - ScubaHawk
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Kamala Shadduck c/o SingleDivers.com LLC
2234 North Federal Hwy, #1010 Boca Raton, FL 33431
formerly...
710 Dive Buddy Lane; Salem, SC 29676
864-557-6079 tel/celfone/office or tollfree fax 888-480-0906
#2
Posted 15 April 2011 - 07:44 AM
On the specific question Kamala poses, is there any reason why having got to today you wouldn't defer rather than file your return?
#3
Posted 15 April 2011 - 07:45 AM
#4
Posted 15 April 2011 - 07:45 AM
Personally, I filed the beginning of March, and received my refund in two weeks, record time considering I didn't file electronically.
Time on earth is precious, time underwater even more so. Live life one day at a time. Dive your @$$ off!!!
#5
Posted 15 April 2011 - 08:58 AM
Whether you file your tax documents by the deadline, or file an extension, the actual TAXES you owe are due on Monday 4/18/11. Don't let the offer of an "extension of time to file" lure you into thinking you can also defer the tax that is due.....or major penalties & interest will be due when you do actually file!
Also, you should check to see if YOUR state also has 4/18/11 as the filing deadline. Some may have the normal 4/15/11 deadline.
Personally, I file as soon as I have all the documents I need to get the returns completed. But, that's just how I roll!
#6
Posted 15 April 2011 - 09:06 AM
#7
Posted 15 April 2011 - 10:56 AM
#8
Posted 15 April 2011 - 11:10 AM
Actually if you expect a Refund, a extentsion is not required. If you owe tax a extension and estimate payment of taxes owed is required or you face penalty and interest.
The IRS will reduce your refund by a late filing penalty if you do not file an extension.
#9
Posted 15 April 2011 - 11:16 AM
Actually if you expect a Refund, a extentsion is not required. If you owe tax a extension and estimate payment of taxes owed is required or you face penalty and interest.
The IRS will reduce your refund by a late filing penalty if you do not file an extension.
This has never happened to me for filing after Apr 15. My tax person works the numbers and never a penalty If I'm DUE a Refund. If you OWE money your in troble for filling late. THBME.
#10
Posted 15 April 2011 - 03:50 PM
#11
Posted 15 April 2011 - 08:17 PM
Speaking as an English accountant, I am amazed at how many Americans happily pay too much tax, claim it back in due course as is their entitlement, then thank Uncle Sam for his benificence. So may people talk as if it's perfectly normal about getting their "tax cheque". I suppose it is a way of enforced saving, sans interest.
On the specific question Kamala poses, is there any reason why having got to today you wouldn't defer rather than file your return?
As an American teacher, my pay has fluctuated from school district to school district and thankfully, usually, that has been an upward trend in pay. However, this next year it will be less with 6 furlough days and my pay this year frozen from last year, it's a game of what to do to continue the standard of living I want to maintain and I've done several things with my finances that because of the "unique" way our tax structure works, it's very hard to decide what "number" goes on the W-4 for my pay .... the end result is that sometimes I'm paying the government for several months an amount of money that they actually owe me. But as someone else said, the dollar or two I'd miss (if that) from interest, really isn't that big of a deal. What I really wish is that we could get the US financial situation under control so that our schools are funded properly and our nation's debt is under control.
(Now moderating myself for stepping a big toe over the no politics line...)
As for the original question, I finally found time to complete my taxes a couple days ago.
#12
Posted 16 April 2011 - 06:52 AM
Wouldn't have made a difference. Got the lionshare of the work done but opted to file an extension 'just to be safe'. Should be a refund...lost money this year but paid at the rate I paid the last time I made money through out the year in estimated taxes just in case I did better.
The IRS scares the crap out of me. They have hired HUNDREDS of auditors to get the last drop of blood out of the few people left in this country that actually pay taxes... basically all of our members. Sadly those who 'collect' don't dive and those who make so much they pay less by comparison...well sadly they have not discovered SingleDivers.com yet!
The folks who dive with us are the ones who like me, pay thru the nose for those who either cheat, refuse to pay or expect someone to support them.
No politics...simply a statement of fact.
As a result I over pay on purpose to avoid any FURTHER issues. I've been audited twice and twice I've come thru squeaky clean but the IRS wants to know why I can take in half a million* but clear less than $20k. I've explained the math quite easily. 90% belongs to the vendors we rep and the remaining 10% just doesn't go very far paying the rest of the bills.
*Percentages are accurate but the total dollar amount taken in annually actually varies between 500k and 750k.
Contact me directly at Kamala@SingleDivers.com for your private or group travel needs or 864-557-6079 AND don't miss SD's 2018-2021 Trips! ....here! Most are once in a lifetime opportunities...don't miss the chance to go!!
SD LEGACY/OLD/MANUAL Forms & Documents.... here !
Click here TO PAY for Merchandise, Membership, or Travel
"Imitation is the sincerest flattery." - Gandhi
"Imitation is proof that originality is rare." - ScubaHawk
SingleDivers.com...often imitated...never duplicated!
Kamala Shadduck c/o SingleDivers.com LLC
2234 North Federal Hwy, #1010 Boca Raton, FL 33431
formerly...
710 Dive Buddy Lane; Salem, SC 29676
864-557-6079 tel/celfone/office or tollfree fax 888-480-0906
#13
Posted 16 April 2011 - 08:35 AM
By the time they do come to see you (or write to you) they've already seen something they aren't comfortable with. In Britain the first and very serious warning is when you're asked to sign a "certificate of full disclosure". This is just basically confirming that you've told them everything you should have done. BEWARE! They only ask for this if they already have evidence or serious suspicions that you haven't. When I was working full time in the accounting profession (just as I'm trying to do now!) one of these letters sounded a serious warning bell. I would advise clients NEVER just to sign it, but to come clean with me, because signing the letter would tip someone over from having just made a mistake to having committed deliberate fraud. Then I'd advise them on the best way out of the mess they had clearly gotten into, but I couldn't do that unless I knew its full extent.
It's all fun!
Edited by peterbj7, 16 April 2011 - 08:36 AM.
#14
Posted 16 April 2011 - 09:34 AM
Fingers crossed it remains that way!
Contact me directly at Kamala@SingleDivers.com for your private or group travel needs or 864-557-6079 AND don't miss SD's 2018-2021 Trips! ....here! Most are once in a lifetime opportunities...don't miss the chance to go!!
SD LEGACY/OLD/MANUAL Forms & Documents.... here !
Click here TO PAY for Merchandise, Membership, or Travel
"Imitation is the sincerest flattery." - Gandhi
"Imitation is proof that originality is rare." - ScubaHawk
SingleDivers.com...often imitated...never duplicated!
Kamala Shadduck c/o SingleDivers.com LLC
2234 North Federal Hwy, #1010 Boca Raton, FL 33431
formerly...
710 Dive Buddy Lane; Salem, SC 29676
864-557-6079 tel/celfone/office or tollfree fax 888-480-0906
#15
Posted 16 April 2011 - 12:42 PM
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