Extending to gain time to pay in profit sharing

[LCP]

...... but filing the 1040 by April 15 anyway to get the stimulus payment quicker.

Can you do that?

[Burke]

What form is he extending? A partnership, or LLC or corp?

[S T]

Forget

Forget the stimulus payment, extend to protect the profit sharing or Sep IRA contribution, etc. (the retirement contributions that can be included under extension) I would think that is more important if t/p can't make by 4/15/08.

Only means t/p won't wait until 10/15 to file return, and his stimulus payment will be slightly delayed.

Can't have "your cake and eat it too"!

I have several t/p's that I am extending so they have time to make their SEP IRA contributions. The contributions have to either be wired or mailed and we can't trust either one to receipt by 4/15.

Sandy

[LCP]

What form is he extending? A partnership, or LLC or corp?

The SE income comes from a partnership but the solo 401k plan gets deducted on the 1040.

Not sure which entity would need to be extended to extend the time to make the payment.......both??