The IRS press release does not list the tax forms affected. Is there a link for that? Specifically wondering about 1041s.
Also - what about states that piggyback on the federal 4868? I have lots of clients who file in other states (Oregon comes to mind) and I don't normally have to extend Oregon since they don't require their own extension if 4868 is filed. Do I need to file the Oregon extension or are they going to follow the 1040 postponed due date?
Thank you! This could be so helpful to clients who choose to use these strategies. Would taxpayers also earn interest on their California refund between April 18th and the time they receive their refund from the FTB?
If the client has vehicle and solar credits that causes them to have a large refund, will they still receive the interest? The link in your post says withholding and estimated taxes, which is still the amount that is being refunded, because the credits aren’t refundable. I can’t find any guidance about this or whether the CA refund would also earn interest from the original due date. Thanks for your help!
Tom Talks Taxes - March 2, 2023
The IRS press release does not list the tax forms affected. Is there a link for that? Specifically wondering about 1041s.
Also - what about states that piggyback on the federal 4868? I have lots of clients who file in other states (Oregon comes to mind) and I don't normally have to extend Oregon since they don't require their own extension if 4868 is filed. Do I need to file the Oregon extension or are they going to follow the 1040 postponed due date?
Thanks Tom for laying it out so well.
This is an amazing strategy. Thank you so much for sharing! 🌞
Thank you! This could be so helpful to clients who choose to use these strategies. Would taxpayers also earn interest on their California refund between April 18th and the time they receive their refund from the FTB?
If the client has vehicle and solar credits that causes them to have a large refund, will they still receive the interest? The link in your post says withholding and estimated taxes, which is still the amount that is being refunded, because the credits aren’t refundable. I can’t find any guidance about this or whether the CA refund would also earn interest from the original due date. Thanks for your help!