Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: hpeace who wrote (92)	10/13/1997 11:48:00 PM
From: Nasty P	of 5810

good to hear from you steve! i am really swamped with finalizing returns for rich people like you <no bg>. Let me mention this to you. As long as your return shows no liability, you can still file late. Although I wouldn't advise delaying too long. i have a lot of R/E clients who have NOLs year after year (of course cash flow is positive), so sometimes their returns are filed late, and no biggie if you owe nothing. A word of caution, you maybe liable for underpayment of est. taxes penalty even though your return shows no liability. Anyway, if your CPA can't get it done by Wed, just pay the estimate figure in order to avoid the penalties. And remember, as long as it's postmarked by 15th by an approved carrier (U.S. Postal Service, UPS, FedEx, Airborn Express), it's considered filed on time. Good luck to you.

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