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Author: edtad Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121478  
Subject: IRS Tax Form #1127 Date: 3/26/1998 10:21 AM
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HELP!

Can anyone e-mail(attach)to me a copy of this form.

The IRS will not even admit it exists and does not put it on their site of available forms to download.

This is a great form and does exist.

It allow you to file and extension to file your taxes when you owe the IRS tax money, yet you do not have to pay the interest and penalties as you would on form #4868.

Thank you.
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Author: Mike7279 Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3069 of 121478
Subject: Re: IRS Tax Form #1127 Date: 3/26/1998 2:11 PM
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<<This is a great form and does exist.

It allow you to file and extension to file your taxes when you owe the IRS tax money, yet you do
not have to pay the interest and penalties as you would on form #4868.>>

It does exist, but not on the interent. I'd be more than happy to mail you a copy if you can't get it any other way.

You should be aware that the IRS DOES charge interest at the underpayment rate. ALSO, you MUST establish an UNDUE HARDSHIP ("This means more than an inconvenience") as to why you cannot pay, you must show you cannot borrow the money and give the IRS security or collateral (if a you own any). The IRS "rarely grants this extension because the legal requirements are so strict", and if they don't you are out of luck. I've never seen it granted.

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Author: TMFTaxes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3085 of 121478
Subject: Re: IRS Tax Form #1127 Date: 3/26/1998 7:30 PM
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The IRS will not even admit it exists and does not put it on their site of available forms to download.]]

Sorry, but I can't attach the form to a file and send it. If you want to provide me your fax number by e-mail, I'll be glad to fax it to you. I don't know why the IRS doesn't have it on their list of forms.

[[ This is a great form and does exist.]]

Yes, it does exist...but it ain't all that great of a deal.

[[ It allow you to file and extension to file your taxes when you owe the IRS tax money, yet you do
not have to pay the interest and penalties as you would on form #4868.]]

Not exactly. You file this form in addition to Form 4868. But this is simply a REQUEST to dalay payment. It is not automatic. And, unless you can PROVE, on the form, that the payment of the tax will be an undue hardship, you'll get hit with penalties.

And, even if you get approval for the delay in payment, you will STILL pay interest on the outstanding balance. I'm afraid somebody gave you some inflated view of what this form really does.

TMF Taxes
Roy

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