Now that you've bought six extra months by filing an income tax extension, you might be wondering what you need to do between now and October 15, 2013 when your 2012 tax return is due. We've addressed some of the most common questions below. Brought to you by TurboTax.com
Can't afford to pay your income taxes? You may be able to qualify for an installment plan with the Internal Revenue Service. The minimum monthly payment for your plan depends on how much you owe. Brought to you by TurboTax.com
The Internal Revenue Service allows taxpayers to file for a six-month extension if they need more time to prepare their tax return. You can obtain a tax extension for any reason; the IRS grants them automatically as long as you complete the proper form on time. Check your state tax laws; some states accept IRS extensions while others require you to file a separate state extension form. Brought to you by TurboTax.com
The Internal Revenue Service recognizes the fact that members of the United States armed forces are often deployed outside of the U.S. at tax time and gives many military and support personnel an extension on their tax deadlines. Brought to you by TurboTax.com
In general, you can deduct interest paid on money you borrow to invest, although there are restrictions on how much you can deduct and which investments actually qualify you for the deduction. Brought to you by TurboTax.com
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November 23 2011 at 9:49 AM Report abuse Permalink rate up rate down ReplyWhen I am interested in an article on your home page and want to read it, I have to wade through numerous other items and pop-ups and often can still not find the article I want to read, like today, the article by Laura Rowley on taking a tax benefit when one sells a house at a loss.
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--------People who have a reverse mortgage (over 65 crowd) how will this affect their families upon their demise? Mortgage
was more but with property decline, will the bank have to eat the loss? Just curious.
This by far her most lame attempt yet. I gather she refering to property, as in land, as in a parcel of dirt? In other words, there's no house on it. No kidding talk to an a tax professional - anybody that listens to this babble as gospel gets what they had coming in the form of an audit. Laura, if you're going to spout nonsense like this at least have the courtesy to pull the camera back and flash a little thigh in the process - that's what "Fox News" style sound bites are all about. Get with the program, woman!
November 17 2011 at 7:44 AM Report abuse Permalink +1 rate up rate down ReplyPeople who have a reverse mortgage (over 65 crowd) how will this affect their families upon their demise? Mortgage
was more but with property decline, will the bank have to eat the loss? Just curious.
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