extensions
ProSerieswhy do I have to complete a tax return before I can file an extension
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dot7VWH8ar4ykqaczvtLbK
04/16/12 5:36am PDT
Viewed by asker 04/16/12 8:24am PDT
Viewed by asker 04/16/12 8:24am PDT
17 Replies
Mt Juliet CPA
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Questions answered: 14436
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04/16/12 5:39am PDT
What they owe based upon estimates prior to filing the extension?
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04/16/12 5:52am PDT
They are previous clients with data imput needed to complete the return. I at this time, want to file only an extension but I am unable to efile this extension because the lines needing imput (for the tax return completions) are showing as errors.
04/16/12 5:53am PDT
Maybe because filing an extension does NOT mean you do not have to pay taxes. You are supposed to fill out what the tax liability is and if there is a tax balance due. Putting information into a return helps you to do this, even if you are only estimating based on limited information.
04/16/12 8:02am PDT
These are Partnerships (LLC's) they don't pay tax and the partners just want an extension. They do not have the data ready for me. I have to put numbers (o) into the tax return which causes errors not to show up for the places that I had to do this at the time of the actual preparation. Also it takes time to do this before filing the extension.
04/16/12 8:07am PDT
I just set up a new partnership return in order to do the extension. I did not have to fill out anything but name, address and went right to the extension.
04/16/12 8:24am PDT
Thats because it is new and didn't have prior year information in it!
tilt53
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Intuit Moderator
Mod/Co-mod
04/16/12 5:57am PDT
Think about it. How on earth would you ever know tax liability?
Is it time yet?
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We are volunteers and are not compensated or supported by Intuit. For additional help please call Intuit Support (800-434-6818).
04/16/12 8:24am PDT
In final review for an extension, you need to fix the errors pertaining only to the extension (marked in red "You MUST fix . . ."). Ignore the yellow "You SHOULD fix . . ." These pertain to the return and not the extension.
Mt Juliet CPA
Questions asked: 65
Questions answered: 14436
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Questions answered: 14436
Points earned: 30988
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Advisory council of Accountant community power users.
04/16/12 9:26am PDT
If you need more time to file your return, you can get an automatic six-month extension of time to file from the IRS. You must file for an extension by the April 17 deadline. An extension will give you extra time to get your paperwork to the IRS, but it does not extend the time you have to pay any tax due. You will owe interest on any amount not paid by the deadline, plus you may owe penalties
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Charlotte256
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04/16/12 10:02am PDT
All that needs to be completed to file for an extension is the Info Sheet including the check box "File Form 4868". I had 2 extensions accepted yesterday for clients whose tax returns have only been transferred.
Taxpayers who owe, need to pay enough to avoid penalties.
When anyone doing nothing needs help, I will gladly help that person do nothing.
04/16/12 11:20am PDT
The e-file sequence will present three lines to e-file: the fed return, the state return, and the fed extension. Check the box for the fed extension. Leave the fed return and state return boxes blank. Errors on the fed and state returns will have no effect because they are not being filed.
04/16/12 11:32am PDT
Some of you managed to miss what I did initially. The extension is for a partnership return not a 1040, but I do believe the answer for this is listed above. IreneIntuit does your answer apply to the partnership extension as well as a 4868 or can you provide moe info on this.
Skeech be specific as to form. It will make all of our lives a lot easier. Thanks!
04/16/12 11:39am PDT
Well, carp. It only took him 3 posts to say what was going on. Like pulling chicken's teeth.
04/16/12 12:12pm PDT
Latest post
Yes, CEMCC, my answer concerning the final review applies to the 1065 extension (form 7004)as well as the 1040 extension (form 4860).
In final review for an extension, you need to fix the errors pertaining only to the extension (marked in red "You MUST fix . . ."). Ignore the yellow "You SHOULD fix . . ." These pertain to the return and not the extension.
