The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/if-i-input-all-the-info-i-have-into-turbotax-30621096.aspx

Subject:  Re: tax extension question Date:  4/3/2013  10:36 PM
Author:  vkg Number:  118262 of 123001

If I input all the info I have into TURBOTAX which shows me that the IRS owes me a refund of $3,000 and I file an extension with a check for $6,000 (just to cover myself in case I made a date entry mistake), is my estimate not reasonable ?

$3,000 refund is a significant buffer. There is also a 10% buffer for the late payment penalty.

http://www.irs.gov/pub/irs-pdf/f4868.pdf