It’ll be an unhappy weekend of number-crunching for many Iowans. Federal tax deadline day is Tuesday and Iowans who already know they’ll need a little more time don’t need an excuse, just a computer or a phone. I-R-S spokeswoman Donna Migazzi says extensions are popular among Iowa taxpayers. About 40-thousand Iowans will file for extensions out of one-point-three million federal tax filers in the state. While filing for an extension buys you another four months of time, Migazzi says it does not keep you from having to pay taxes you may owe.An extension gives you until August 15th to file your return but taxpayers still have to pay what they think will be due by April 15th. Migazzi says there are a few options for getting an extension.Call the I-R-S at 888-796-1074 or go online to “www.irs.gov” and download Form 4868 and get it in to the tax agency by the April 15th deadline. Migazzi says taxpayers who may be hesitant to pay their taxes should beware. She says taxpayers who finish their returns and discover they owe money -should- go ahead and at least send in the return, even if they can’t pay right away. They can ask to be sent a bill or to be put on an installment plan. The penalty for failure to file is ten times stiffer than the failure to pay penalty.
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