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Author Topic: Money  (Read 29768 times)

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AGelbert

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Agelbert Public Service Announcement: The FINE PRINT you were not told about in that Income Tax Return Filing deadline "extension" until July 15 2020:

Taxpayers must still file their returns by April 15 but will have an additional 90 days to pay their tax bill. Yes, you read that right.

Here is the ONLY WAY that "extension" can work for your delayed payment benefit: If you want to take advantage of the July 15, 2020 "filing extension" AND expect to owe taxes when you file, you MUST fill out and send in, by April 15, 2020, Form 4868. That form has been previously used for a filing extension of up to six months. The IRS, being the IRS, will NOT give you a pass on interest and penalties on owed taxes, despite the much paraded Trump "extension to file until July 15, 2020", if you do not file Form 4868 by Aprl 15, 2020.

Quote
If you can’t file by the due date of your return, you should ;) request an extension of time to file. To receive an automatic 6-month extension of time to file your return, you must file Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return (PDF) by the due date of your return. An extension of time to file is not an extension of time to pay. You may be subject to a late payment penalty on any tax not paid by the original due date of your return.
https://www.irs.gov/filing/individuals/when-to-file

The only thing that changes from the IRS boilerplate above is that you now DON'T have to pay until July 15, 2020, AS LONG AS YOU FILE Form 4868 by Aprl 15, 2020.
https://www.irs.gov/newsroom/payment-deadline-extended-to-july-15-2020

You just read all this here, in this tiny corner of the internets, but it's not much discussed on the mainstream media. What that means, in practice, is that Mr. Trump has set up a nice CON JOB to fool a LOT of taxpayers like you and me into thinking we "do not have to file" until July 15, 2020. If you owe taxes and DO NOT request an extension with Form 4868 by April 15, 2020, you WILL BE 🦀 TRUMP TRAPPED LIABLE FOR INTEREST AND PENALTIES on your taxes. Thus, 🦀 Trump's IRS will go after millions of (poor and middle class ONLY) Americans at a time when Americans most need money to survive. 
 

There are probably MILLIONS of Americans that have just been suckered into ending up owing MORE TAXES due to added penalties and interest, because they weren't told they had to file Form 4868. If you know one of these poor saps who are celebrating what a "great guy" 😇 Trump is to "give them an extra 90 days to file out of concern for their monetary welfare", please enlighten them. 😈 Trump never passes up an opportunity to run a con.
He that loveth father or mother more than me is not worthy of me: and he that loveth son or daughter more than me is not worthy of me. Matt 10:37

 

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