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Paperless extensions - RIP.

Last year, the IRS was considering adopting a paperless system of filing for tax extensions. The system originally was intended to begin in 1992 but was delayed. The IRS now has decided to drop the project altogether.

Taxpayers and practitioners had expressed doubts about the paperless system's effect on elections and raised other possible problems. Under the now-defunct proposal, most taxpayers would have been able to file by August 15--not April 15, as long as they paid enough of the tax due by April 15. No extension request would have been filed.
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Publication:Journal of Accountancy
Article Type:Brief Article
Date:Nov 1, 1992
Words:92
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