For years if you filed for an extension by April 15, you would automatically have until August 15 to file your federal income taxes. An extension gives you more time to file but income tax $ is still due April 15. So if you estimated that you would owe, you sent $ with the extension form.
Now if you filed a timely extension form by April 15, you have until October 15 to file. That's six months to complete your 1040 and get it postmarked.
A reminder this year: Stimulus checks are issued for those filers with average or below income levels based on tax return filings. So if you have put off completing your return, you will not get a stimulus check until Uncle Sam hears from you.
If you do not have income levels that are large enough to require you to file, this year it pays to file. A return with zero taxes due will trigger a stimulus check.
Married filing joint taxpayers, on average, will receive $1,200 from the government.
Get those tax returns filed. Get your stimulus check.
'til later
Friday, August 15, 2008
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