Due date extended for some 2008 returns

[kcjenkins]

Since Feb. 28 is a Saturday, the deadline for filing 2008 returns normally due that day is extended to March 2. This includes:

Form W-2, Wage and Tax Statement (for wages paid to employees)

Form 1099-MISC, Miscellaneous Income (for payments made in the course of a trade or business to nonemployees)

Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips

Electronic filers have until March 31 to file these returns

[Tax Prep by Deb]

Thanks for the heads up. Sometimes just a couple of extra days can make all the difference in the world!

Deb!

[OldJack]

One should not procrastinate and get those reports filed prior to the deadline.

[JohnH]

Procrastinator's motto:

"Never put off until tomorrow what you can get away with putting off until the day after tomorrow".

(I have some other ones - will post them later)

[Tax Prep by Deb]

One should not procrastinate and get those reports filed prior to the deadline.

I totally agree, however in the past I was the type that would put the reports in the mail as soon as I finished them. Then one of my clients came in and told me there was an incorrect social security number on his employees w-2 (the dreadful inverted number) not from me but the record as it was turned into me. As a result I had to do a corrected w-2 and w-3, whereas had I procrastinated till the dead line would have been much easier to fix, as was pointed out to me by someone on the community. So I personally appreciate whatever extra time I have!

Deb!

[TAXBILLY]

Deb:

That's the reason why I wait until near the deadline. Saves a lot of headaches.

taxbilly

[RitaB]

Deb:

That's the reason why I wait until near the deadline. Saves a lot of headaches.

taxbilly

I also wait till the deadline to give people time to call me with corrections. Also, I use certified mail, return receipt requested, which has saved penalties for late filing more than once. In 2006, I had three clients come in with notices saying they filed 2004 1099's late. Well, I had the dated receipts. Mailed letters to IRS with copies of receipts, and that took care of the problem.

I guess a lot of you make the clients mail the transmittals and IRS/SS copies. I don't trust my clients that much!

One of these days I'll try the e-filing... It is REALLY a pain to be in line at the post office at the end of February!