Extensions

[TAXMAN]

With all the late forms, software issues, etc, etc I wonder if anyone has established a date for filing extensions. I have a couple of corps that may get them this year. Whats your take on this issue?

[Lion EA]

I may start 1 March. I used to start 15 March or 1 April but managed to complete a lot of those on extension. Except during hurricanes with power outages (those were the 15 March extensions)! But, I tended to end up transmitting a lot of extensions way too close to 15 April. I was just thinking today that everyone who drops off/calls from 1 March on will be told they're going on extension "just in case" due to Congress' late vote on 2012 tax issues. Then, I'm actually going to file the extensions as they drop off, so I can let them know payments in a less-rushed atmosphere.

[JohnH]

Lion: Perfect approach. That's how I've always done it as well - be proactive about extensions and you'll save yourself a lot of Apr 15 aggravation.

I have been thinking Mar 10 for the cutoff date, bit you have me thinking about making it earlier as well.

[joanmcq]

I put mine at march 20 this year. I need at least two weeks to prepare estimates for people that have to extend because of k1s or will owe.

[Jack from Ohio]

Ours is March 25. There will be NO EXCEPTIONS this year!!!