. . . . . . . .   Nashville   TN




 

 


 

  

 

  

 

 

We have been working around the clock to make tax filing as painless as possible for our clients.  We are down to the last two weeks! 

There is still time for you to receive your tax return by our April 14th guarantee!  If we do not yet have your tax information, please try to have it at our office the first of next week to allow sufficient time for completion by April 14th

If you need more time to assemble your tax information or simply prefer to file your return on your own time table, we can help you by obtaining an extension. The IRS permits you to automatically extend the filing due date of your return for six months.  Click here to access our extension worksheet which will provide us the information necessary to file your extension.

     
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Beginning this year, individual taxpayers are eligible for an automatic six-month extension to file their returns. Partnerships and other businesses are able to take advantage of simplified extension processes. The IRS estimates that the simplified filing procedures will save taxpayers time and money.

 

New procedures

Taxpayers will simply fill out one Form 4868, to be granted an automatic six-month extension. No explanation or signature will be necessary.

The result is that taxpayers who timely file Form 4868 have until October 16, 2006 to submit their returns. Of course, this is merely an extension of time to file and not to pay.

Business taxpayers

Business taxpayers will see a modification in their filing extensions procedures beginning in 2006 as well. Currently, C corps and S corps file Form 7004, Application for Automatic Extension of Time to File Corporation Income Tax Return while partnerships, REMICS and certain trusts must file Form 8736, Application for Automatic Extension of Time to File U.S. Income Tax Return for a Partnership, REMIC, or Certain Trusts.

This year, the IRS modified Form 7004 so that partnerships, REMICS and certain trusts may also use it to obtain an automatic six-month extension.

Other modifications

The IRS modified Form 5558, Application for Extension of Time to File Certain Employee Plans Returns and Form 8893, Payment of Gift/GST tax and/or Application of Time to File Form 709. Taxpayers no longer have to explain why they are seeking an extension.

     

 

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