Filed an Extension to File

I won't be ready to file our 2011 tax return on April 17, 2012.  So I mailed in form 4868 for an extension to file on Saturday.  Form 4868 extends the tax filing date to October 15, 2012.  However, form 4868 does not extend the date for paying taxes owed, which are still due on April 17, 2012.   We will avoid penalties and interest since we expect a refund and therefore, have over 90% of our 2011 actual tax liability already paid by April 17, 2012.  (If we owed money,  we would have sent in the expected payment with form 4868.)

My plan is to complete our tax return by the end of April since we are getting a big 2011 tax refund .  In 2013, I will plan to complete our tax return in February since we expect a big 2012 tax refund already.

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This is not financial or tax advice. Please consult a professional advisor.

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