Afternoon all,
I think you all know that the Fisrt half of the 2011 tax filing season is over, there are now 6 weeks and 4 days left to file your tax Return,
If you are in need of an Extension Please contact your Tax Professional by April 15th 2012 so that they can file that extension for you.
The Extension gives you 6 months to complete your return but here are the drawback.
If you find out that you owe any tax you will only save the
"LATE FILING FEE OF AROUND 25% of the federal taxes owed.
Your State will also charge approximately the same Late Filing Fee but it is up to what state you live in and they will send you a bill.
(Certain States also request for you to fill out an EXTENSION FORM to be honored)
Starting April 1, 2012 the Interes Rate for any return filed late is 3% on the Unpaid Balance Compounded Daily.
Then there is an Interest Penaty of 3% on top of the interest charged, also compounded daily.
Then there is a 2% non payment penalty on top of all of it. Not sure if there is any other penalites. added. but it could be sufficient amount if not paid wit
IF YOU DO NOT FILE FOR AN EXTENSION, THEN THE LATE FILING FEE OF 25% WILL BE IMPOSED ON THE UNPAID BALANCE. I AM NOT SURE WHAT THE STATES LATE FEES ARE.
Frank’s Tax and Business Service
120 York Rd
Kings Mountain, NC 28086-3151
(704) 739-4039 Fax: (704) 739-3934
e-mail: [email protected]
Web Site: http://prep.1040.com/frankstax
Franklin Katz, ATP, PA, PB,
Providing Professional Accounting, Bookkeeping, Payroll and Income Tax Preparation Services
Circular 230 Disclaimer – Any tax advice in this communication (including any attachments) is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding related
penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any transaction or tax
related matters addressed herein.
I think you all know that the Fisrt half of the 2011 tax filing season is over, there are now 6 weeks and 4 days left to file your tax Return,
If you are in need of an Extension Please contact your Tax Professional by April 15th 2012 so that they can file that extension for you.
The Extension gives you 6 months to complete your return but here are the drawback.
If you find out that you owe any tax you will only save the
"LATE FILING FEE OF AROUND 25% of the federal taxes owed.
Your State will also charge approximately the same Late Filing Fee but it is up to what state you live in and they will send you a bill.
(Certain States also request for you to fill out an EXTENSION FORM to be honored)
Starting April 1, 2012 the Interes Rate for any return filed late is 3% on the Unpaid Balance Compounded Daily.
Then there is an Interest Penaty of 3% on top of the interest charged, also compounded daily.
Then there is a 2% non payment penalty on top of all of it. Not sure if there is any other penalites. added. but it could be sufficient amount if not paid wit
IF YOU DO NOT FILE FOR AN EXTENSION, THEN THE LATE FILING FEE OF 25% WILL BE IMPOSED ON THE UNPAID BALANCE. I AM NOT SURE WHAT THE STATES LATE FEES ARE.
Frank’s Tax and Business Service
120 York Rd
Kings Mountain, NC 28086-3151
(704) 739-4039 Fax: (704) 739-3934
e-mail: [email protected]
Web Site: http://prep.1040.com/frankstax
Franklin Katz, ATP, PA, PB,
Providing Professional Accounting, Bookkeeping, Payroll and Income Tax Preparation Services
Circular 230 Disclaimer – Any tax advice in this communication (including any attachments) is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding related
penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any transaction or tax
related matters addressed herein.