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Your 2010 Tax Filing Deadline Has Been Extended

2/7/2011

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 Do You Procrastinate?

GOOD NEWS FOR PROCRASTINATORS

Your 2010 tax filing deadline has been extended by three days – you
have until midnight Monday, April 18th because of Emancipation Day,
a holiday observed in the District of Columbia, which falls on Apr 15.

By law, District of Columbia holidays impact tax deadlines in the same
way that federal holidays do.

SERIOUS PROCRASTINATORS- YOU CAN GET AN ADDITIONAL
SIX MONTHS TO FILE 2010 TAXES

If you file for an automatic extension you will have until Oct. 18 to file
your 2010 tax returns.  You do that by filing a Form 4868 – “Extension of Time
to File Tax Returns.”

Acceptance by the IRS is automatic.

BUT if you will OWE Uncle Sam money for 2010 taxes, he still wants your
check in the mail by 4/18.

In some extreme hardship cases you MAY be able to get an extension of
time-to-pay by filing a Form 1127. But submit that form asap, because
IRS approval is NOT automatic.

WHERE YOU CAN GET THE 4868 & 1127 FORMS???

Get them at www.irs.gov  or   Use This LINK

WHAT THE BIG PRINT GIVETH, SMALL PRINT TAKETH AWAY

The new health care bill gave a 35% tax credit to employers who provide
health insurance for employees ...but IRS Notice 2010-82 says sole-
proprietors who employ their own spouse do not qualify.

Of course this decision does not pass the common sense test, but,
hey, the IRS is exempt from that little technicality.


More Tax Tips and Updates coming very soon.

Helping create tax-smart home business owners, one at a time…
Ron Mueller, MBA, Ph.D., and author of
“Home Business Tax Savings, Made Easy!”
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