A commentary on tax and business law developments by Stuart Levine
Monday, November 07, 2005
Procrastinators Can't Wait
The IRS has just promulgated new regulations that allow "an automatic six-month extension to taxpayers who must file an individual income tax return if they submit a timely, completed application for extension on Form 4868. Taxpayers do not have to sign the request or explain why an extension is needed in order to receive the automatic six-month extension of time to file. An automatic extension under the temporary regulations does not extend the time for payment of tax."