Federal Tax Procedures

Question 1

Due dates for returns - individuals partnerships

Answer 1

15th day of 4 month after close of tax year (April 15, next year)

Question 2

Individuals - refund claim

Answer 2

1. file amended return, 3 years after original due date (if extension filed, 3 years after this extension)

or

2. 2 years after date of payment whichever is later

Question 3

Due dates for returns - corporations

Answer 3

15th day of 3rd month following close of tax year

Question 4

Due dates for payments

Answer 4

Generally, must be paid at time of filing return

Question 5

Gift tax returns

Answer 5

1. by Apr. 15 of the following year of gift
2. if taxpayer dies during the year, must file the return on estate tax return due date

Question 6

Estate tax returns

Answer 6

Due 9 months after date of death of decedent

Question 7

Return due date

Answer 7

On next date that is not Sat., Sun., or legal holiday

Question 8

Extension to file returns -

Secretary of Treasury

Answer 8

Sect. 6081, IRC

grants reasonable extensions for filing

Question 9

Ext. to file returns -

Individuals

Answer 9

file Form 4868, on or before due date of return

can obtain 6 mos. extension

Question 10

Ext. to file returns

Individuals that are abroad

Answer 10

2 additional months (June 15, 2016)

Outside US or PR, military service on duty, extends additional months

Question 11

Ext. to file returns -

Corporations

Answer 11

Form 7004

must file for extension before due date of original

must pay full amount

Question 12

Ext. to file returns -

Partnerships

Answer 12

Form 7004

must file by due date of original return

runs 6 mos. from original due date

Question 13

Ext. to file returns -

Estate

Answer 13

Form 4768

6 mos. extension

file on or before due date

Question 14

IRS discretionary authority

Answer 14

discretionary extension for 6 mos. and for taxpayers that are abroad

Question 15

Extension of time to pay tax

Answer 15

1. for reasonable time, not to exceed 6 mos.
2. for taxpayer who is abroad, can exceed 6 mos.
3. for income or gift taxes, required

a. show pmt. cause undue hardship

Question 16

Ext. of time to pay tax -

Estate tax

Answer 16

1. up to 12 mos.
2. based on reasonable cause,

a. not sufficient fund and liquid assets,
(1) to pay estate tax
(2) to pay claims against estate
(3) provide decedent’s spouse and dependent children a reasonable allowance
3. when substantial assets collected only through litigation.
4. can be extended up to 10 yrs (on yr-toyr basis to determine if reasonable cause exists)