File Your Taxes Late- Reason #3
File your taxes late? Yes, some tax rules are made to be broken. The rule I am talking about is filing your taxes by April 15th. Some people can prosper by not filing timely. Here is #3 of 3 of those situations:
2. Multiple Roth IRA Conversions
3. Home buyers who haven’t completed their purchases but plan to take one of the two federal tax credits that they qualify for -one for first time buyers and the other for repeat buyers.
All taxpayers qualify for an automatic 6 month extension (From 4868) but it is not an extension of payment. If you owe tax and don’t pay it, the current rate of interest (4%) will be charged from April 15th till paid.