State Income Tax Extension

[Baldie]

I am in California.

This year I happen to owe on my state taxes. I'm getting a refund on my federal taxes which was mailed to me on 3/16/07 according to the IRS website however I still have not received it as of yesterday 4/5/07. Tax deadline is nearing and I need my federal return in order to pay my state return. I moved a few weeks after I sent my federal taxes off so I'm assuming it has gotten lost or is still in transit, but at this point I'm worried I won't receive it in time. Will the IRS allow me to file an extenstion on my state taxes???

I've never filed an extenstion before so I don't know exactly whats involved or how it will hit me down the road. Please advise if any. Thanks.

 

[tranquility]

An extension is an extension to file, not an extension to pay. I recommend you file your state return on time. Pay as soon as you get your money. The state will send you a notice in a while looking for their money and adding interest. Pay it. If you already paid the amount owed before you get the notice, pay the interest on the state's notice.

 

[Baldie]

An extension is an extension to file, not an extension to pay. I recommend you file your state return on time. Pay as soon as you get your money. The state will send you a notice in a while looking for their money and adding interest. Pay it. If you already paid the amount owed before you get the notice, pay the interest on the state's notice.

Okay so your saying just mail in the payment even though I don't have the money? How much interest does the IRS usually charge? How long before they send out the notice?

 

[tranquility]

NO!

1. Your California State return goes to the Franchise Tax Board, not the IRS.

2. You should file your tax *return* on or before the due date. (April 17, 2007)

3. If you can't pay your taxes, don't include a bad check with your return. The FTB will get your tax return and find there is no check enclosed (Or, payment voucher and check.) and make a note on their computer. The FTB will then send out a letter informing you of your error. The letter will include the interest from the time the return is due to the time of the letter. The time line varies. That's why I suggest you pay as soon as you get the money. Simply send in your *valid* check that your account will pay along with the payment voucher whenever you can. If it gets to the FTB before they send out the letter, they will send out a different letter billing you for the interest from the time the return was due to the time they received payment.

 

[Baldie]

Okay....I get what your saying.

Now lets say I mail out my return on the 17th (isn't it the 15th?) with no payment, then I get my federal return the next day, do I just mail in a check by itself? Where do I get this voucher to include with payment so they know the check is for me??

This is probably a dumb question....sorry.

 

[LdiJ]

Okay....I get what your saying.

Now lets say I mail out my return on the 17th (isn't it the 15th?) with no payment, then I get my federal return the next day, do I just mail in a check by itself? Where do I get this voucher to include with payment so they know the check is for me??

This is probably a dumb question....sorry.

Its the 17th this year because the 15th falls on a Sunday and Monday is a federal holiday, so that pushes the deadline to Tuesday the 17th.

If you file electronically, you will receive a payment voucher from either the paid preparer, or the software you use will generate a payment voucher.

However, if you do not receive one, or you file a paper return, then go to the CA Franchise Board's website and see if there is a voucher available to download....most likely there will be one.