I have a young man that needs another week to sign 8879 because away at college. He's getting refunds on both Fed and NC state, there is no reason for extension because no penalty, right?
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I'd still file an extension. It protects you against any surprises if additional income turns up later."The only function of economic forecasting is to make astrology look respectful" - John Kenneth Galbraith -
Good Idea! Thanks!! Only 6 more days!!Comment
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Also if he is getting a refund the return filing can be delayed with no penaltyBelieve nothing you have not personally researched and verified.Comment
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Moving the paperwork
There are several (easy) ways to get a Form 8879, signed and unsigned, to/from him. This is only April 13th.
As for the "need" to file an extension. . .for each and every one of my clients I file either a tax return or an extension by the deadline date. As noted by JohnH, sometimes a little insurance might be worthwhile.
FWIW: If there are no payments due, you can easily file both IRS/NCDOR extensions online with your existing tax software (all of the necessary information is already there!) AND get a quick response that they were "accepted." Probably takes less time than it took me to type this response.
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You didn't give us his age or whether he is a dependent of his parents. This would likely lower his refund. I only caution this because so many young TP's don't understand the rules.Believe nothing you have not personally researched and verified.Comment
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