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Author: irasmilo Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 124161  
Subject: Re: to those of you who will owe the IRS... Date: 3/1/2008 4:47 PM
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Do you generally wait until April to file if you know you're going to owe a little bit of money? My wife and I had a bunch of job changes about half way into the year and decided to wait until the new year to adjust our withholdings, so we owe about $400 on 2007 taxes... any reason why I should be in a hurry to file? Seems like I might as well make a little interest on the money before I send it off.

I always recommend that my clients file as soon as the return is completed. This way they know the return is in and they can avoid a late filing penalty. However, I also recommend that they not pay any tax due until just before April 15. You are not required to send payment with the return.

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