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7. Don’t Miss the Deadline for Filing an Extension

7. Don’t Miss the Deadline for Filing an Extension


Don’t allows your clients to bury their heads in the sand if they’re not going to get their return filed on time. Filing for an automatic extension with Form 4868 is painless and will spare penalties for missing the deadline. But remember, extending the filing deadline does not extend the time for making a contribution to an IRA or HSA, and it does not extend the time for payment. By the filing deadline, your clients must have paid at least 90% of their 2010 tax liability through withholding, estimated payments and any payment made with their extension.



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