Opti
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Post by Opti on Aug 15, 2013 13:17:58 GMT -5
I looked yesterday at my 2012 federal taxes as I filed an extension. In the past you needed to mail in your taxes by August 15th I thought, but the booklet says Oct. 15th.
I'm guessing that's correct but I'm wondering when it became a 6 month extension instead of a 4 month extension.
Also, if I am able to get a decent job before Oct. 15th can I still put money towards my 2012 IRA and take that deduction? |
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taxref
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Joined: Dec 31, 2010 11:09:13 GMT -5
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Post by taxref on Aug 15, 2013 13:36:18 GMT -5
The deadline to file an extended return is 10-15-13.
Years ago, one could get an automatic extension for 4 months. If more time was still needed, another request for 2 months could be requested. That process was, wisely, streamlined to make it 1 6 month extension.
Unhappily, the IRA deadline cannot be extended. Consequently, you cannot make a contribution for 2012.
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mwcpa
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Post by mwcpa on Aug 16, 2013 6:00:06 GMT -5
I concur with taxref....
there is no longer a second extension needed for "filing" an form 1040. but, remember, an extension is for more time to file, not more time to pay.
and, IRAs MUST be funded by 4-15, there is no extension for them. (other types of retirement plans do have more time though)
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