Chowdahead Posted April 11, 2009 Report Share Posted April 11, 2009 I have a client who will not owe. However, they do not wish to file their return yet because they will be buying a house in the next couple of months and don't want to have to file an amendment to claim the First-Time Home Buyers Credit. I told them I was pretty sure that an extension is not required because they will not have a tax due. I just want to confirm here, is that correct? Quote Link to comment Share on other sites More sharing options...
JohnH Posted April 11, 2009 Report Share Posted April 11, 2009 I ALWAYS file an extension, even when no tax appears to be due. If something unexpected pops up later, you have no excuse for not having filed the extension. A piece of paper is pretty good insurance against an ugly surprise. I filed an extension today for someone expecting a refund of over $4K. But if he calls me up a couple of weeks from now and says "I forgot to tell you about that $25K early withdrawal form my IRA", I won't be doing any explaining. Quote Link to comment Share on other sites More sharing options...
miatax Posted April 11, 2009 Report Share Posted April 11, 2009 My two cents.. File the extension. Quote Link to comment Share on other sites More sharing options...
mcb39 Posted April 11, 2009 Report Share Posted April 11, 2009 File the Extension. It only takes a minute. I have already had a client get a late filing penalty even though she didn't owe any tax, but because she filed late without an extension. Quote Link to comment Share on other sites More sharing options...
bstaxes Posted April 11, 2009 Report Share Posted April 11, 2009 File the extension. It is a CYA. just in case something comes up. Any of my clients not ready to file by 4/15 get an extension. Quote Link to comment Share on other sites More sharing options...
TAXBILLY Posted April 11, 2009 Report Share Posted April 11, 2009 I agree. File an extension and take the surprises out of the situation if something later comes up. taxbilly Quote Link to comment Share on other sites More sharing options...
Chowdahead Posted April 13, 2009 Author Report Share Posted April 13, 2009 Thanks. The client will instead just file and get their refund now and then amend later if they buy a house. Quote Link to comment Share on other sites More sharing options...
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