Nov. 15, 2005: Automatic Six-Month Tax-Filing Extensions Available In 2006
WASHINGTON - Taxpayers will be able to request an automatic six-month tax-filing extension for most common individual and business returns under regulations released by the Treasury Department and the Internal Revenue Service (IRS).
The new regulations provide streamlined and simplified procedures that are expected to save taxpayers between $73 million and $94 million annually, by eliminating or consolidating several existing IRS forms. As a result, beginning Jan. 1, 2006, most individuals and businesses will be able to request a full six-month tax-filing extension, without a reason or even a signature, says the IRS.