Dear Bald Eagle and Gerald: First, according to page 3 of Form 4868, you are correct, Bald Eagle. As long as, "... at least 90% of your actual 1999 tax liability is paid before the regular due date of your return through withholding, estimated tax payments, or with Form 4868," a late payment penalty is not incurred. Interest must be paid, however, "On any tax not paid by the regular tax date."
Given how much I dislike paying interest on anything combined with the fear I have of seeing an envelope in my mail box with a return address for the I.R.S., I hope _not_ to use Form 4868. If I have to, I shall make sure my enclosed check is for _more_ than I owe.
One interesting thing I saw reading the, "Important Changes for 1999," section in _Tax Guide for 1999_, Publication 17, is that people can deduct medical expenses to stop smoking. People who went through stop-smoking programs during 1996 through 1998 can file amended returns. This is going to make one of my friends very, very happy.
Regards,
Lynn |
