What is the Maximum time that a person can extend their tax return, I heard up to 3 years.?

Question

My account has allowed me to file an extention on my 2004, 2005 , and now probably my 2006 tax return. When is the 2004 past the extention date ? Is it 3 years from 2004, or 3 years from it's first due date of April 15, 2005? Please if you are not sure, don't answer. Thank you.

Answer 1

When you say account, I am assuming you mean your accountant? I am a CPA/Tax Preparer so I am sure of my answer. For your 2004 tax return, the date it would have been due originally would have been April 15, 2005. If your accountant filed an extension for you, I'm assuming that you mean a federal extension, that would have extended the time by 4 months, it is also possible that he could have filed for an additional extension of 2 months, which would have extended it to October 15, 2005. As for the 3 years part, what that refers to is that you have 3 years to file a return to claim a refund for the year, from either the original due date or from the extension date(s). So, if you are due a refund from your 2004 return, you would have 3 years from either April 15, 2005, August 15, 2005, or October 15, 2005 to file the 2004 return to claim the refund. I gave you those 3 dates, but you should check with your accountant as to which date is correct. Now on the other hand, if you owe money, there is no time limit to file a return.

Answer 2

An automatic (if you apply for it) extension is good for 6 months, then you can ask for additional time but have to have a good reason, and the IRS has to approve it.

Three years is the time you have from the original due date of the return (April 15, or this year the extended April 17) to still collect your refund if you have one coming - after that, it's forfeited. You aren't actually allowed to wait three years to file, but if you don't owe anything, you won't be penalized for filing late.

If you file late without an extension and you owe, you'll pay a late-filing penalty as well as a late-payment penalty.

Answer 3

I think the best way to honor Sr. would be to put his number back on the track. I think it would be most fitting if it was another Earnhardt, but regardless it would be cool. Besides it being a good tribute, he wasn't the first to drive the #3. The #28 is still raced, the #42 is still raced, the #45 is still raced, albeit by another Petty. I think Richard Childress will let his grandson use it in cup when he gets to that point. Maybe by then everyone will be able to accept it, because there are going to be alot of old school hard core Sr. fans that are going to be pissed.