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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (12204)	4/19/2004 5:26:25 PM
From: Jon Tara	Read Replies (2) \| Respond to of 110194

Last minute (or extension) filers are probably more likely to be estimated tax payers, who have more complicated returns. They may file late simply because they do not yet have all of the information needed to file. There is a special hitch this year - apparently (according to my CPA) they have gone 100% electronic for tax preparers this year. My CPA refrained from doing any filings in the last week of filing, doing extensions instead. The problem is, when an electronic filing is rejected, it is not rejected immediately - it could take 24-48 hours to learn of the rejection. Thus, is is not safe to file electronically the last couple of days. Instead, it is better to file an extension, and then file electronically later.