Monday, February 05, 2007

Housing Counsel: A Primer on Real Estate Taxation

It’s tax time again. In just 101 days from today, our income tax returns will be due. April 15th this year falls on a Sunday, so we get an extra day to procrastinate. Actually, if you live in the District of Columbia, Maryland, Maine, Massachusetts, New Hampshire, New York, or Vermont, you get one additional day until April 17th.

According to Mark Everson, the Commissioner of the Internal Revenue Service, "Paying taxes is a unifying experience fundamental to democracy and the rule of law."

In other words, to avoid penalties, interest -- and possibly jail time -- all American homeowners must either file their income tax return or get an extension. The law allows taxpayers to get an automatic six month extension (until October 15, 2007) but only if you file form 4868 no later than the April 16th (or 17th) due date.
Read more - click here.

No comments:

More Links: