Which of the following statements concerning extensions of time to file an indiv

Question

Which of the following statements concerning extensions of time to file an individual tax return is false?

Multiple Choice

A. An individual may receive an automatic extension of the filing date without providing any explanation to the IRS.

B. The extended due date of a calendar-year individual tax return is October 15 of the following year.

C. An extension request must be filed before the end of the taxable year.

D. The extension of time to file does not extend the time for payment of any tax due.

Explanation / Answer

A. False. There are three ways to request an automatic extension of time to file a U.S. individual income tax return. 1. You can pay all or part of your estimated income tax due and indicate that the payment is for an extension using Direct Pay, the Electronic Federal Tax Payment System, or using a credit or debit card. 2. You can file Form 4868 electronically by accessing IRS e-file using your home computer or by using a tax professional who uses e-file. 3. You can file a paper Form 4868 and enclose payment of your estimate of tax due. Explanation is mandatory to the IRS

B. True.

C. False. Extension applications for all business taxes must be filed by the tax return due date and taxes must be paid by the due date, even if an extension application is being filed.

D. True. Tax are to be paid by the due date of the initial tax return (prior to extened dates)

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