State income tax filing extensions must be submitted electronically

Department of Revenue does not accept paper extension requests

BATON ROUGE –Taxpayers who require more time to file their 2012 Louisiana individual income or Corporation Income and Franchise Tax returns must submit their extension requests electronically. Paper requests are not accepted.

The Louisiana Department of Revenue (LDR) implemented the electronic extension mandate for income tax returns beginning with returns due in 2013.  Filing extension requests must be submitted no later than the tax filing deadline.

2012 Louisiana Corporation Income and Franchise Tax Returns are due April 15, 2013.

2012 Louisiana Individual Income Tax Returns are due May 15, 2013.

Some commercially-available tax preparation software programs still provide copies of an outdated printable Louisiana extension request form. These forms are not valid and will not be processed. Failure to file returns on time, or to submit an extension request by the filing deadline, will incur late-filing penalties.

Individual and business taxpayers may submit an extension request by one of the following methods:

A filing extension grants only additional time to file a return.  It does not grant an extension of time to pay taxes due. Late payments are subject to penalties and interest.

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IRS: ‘Tax-filing and Payment Extensions Expire Oct. 15′

IR-2012-73, Sept. 28, 2012

WASHINGTON — The Internal Revenue Service is urging the estimated 104,000 Louisianans who requested an automatic tax filing extension until Oct. 15 to double check their returns for often-overlooked tax benefits and then file their returns electronically using IRS e-file or the Free File system.

Many of the more than 11 million taxpayers who requested an automatic six-month extension this year have yet to file. Though Oct. 15 is the last day for most people, some still have more time, including members of the military and others serving in Iraq, Afghanistan or other combat zone localities who typically have until at least 180 days after they leave the combat zone to both file returns and pay any taxes due. People with extensions in parts of Louisiana and Mississippi affected by Hurricane Isaac also have more time, until Jan. 11, 2013, to file and pay.  (See list of affected parishes below.)

Check Out Tax Benefits

Before filing, the IRS encourages taxpayers to take a moment to see if they qualify for these and other often-overlooked credits and deductions:

  • Benefits for low-and moderate-income workers and families, especially the Earned Income Tax Credit. The special EITC Assistant can help taxpayers see if they’re eligible.
  • Savers credit, claimed on Form 8880, for low-and moderate-income workers who contributed to a retirement plan, such as an IRA or 401(k.
  • American Opportunity Tax Credit, claimed on Form 8863, and other education tax benefits  for parents and college students.

E-file Now: It’s Fast, Easy and Often Free

The IRS urged taxpayers to choose the speed and convenience of electronic filing. IRS e-file is fast, accurate and secure, making it an ideal option for those rushing to meet the Oct. 15 deadline. The tax agency verifies receipt of an e-filed return, and people who file electronically make fewer mistakes too.

Everyone can use Free File, either the brand-name software, offered by IRS’ commercial partners to individuals and families with incomes of $57,000 or less, or online fillable forms, the electronic version of IRS paper forms available to taxpayers at all income levels.

Taxpayers who purchase their own software can also choose e-file, and most paid tax preparers are now required to file their clients’ returns electronically.

Anyone expecting a refund can get it sooner by choosing direct deposit. Taxpayers can choose to have their refunds deposited into as many as three accounts. See Form 8888 for details.

Quick and Easy Payment Options

For unemployed workers who filed Form 1127-A and qualified to get an extension to pay their 2011 federal income tax, Oct. 15 is also the last day to pay what they owe, including interest at the rate of 3 percent per year, compounded daily. Doing so will avoid the late-payment penalty, normally 0.5 percent per month.

Taxpayers can e-pay what they owe, either online or by phone, through the Electronic Federal Tax Payment System (EFTPS), by electronic funds withdrawal or with a credit or debit card. There is no IRS fee for any of these services, but for debit and credit card payments only, the private-sector card processors do charge a convenience fee. For those who itemize their deductions, these fees can be claimed on Schedule A Line 23. Those who choose to pay by check or money order should make the payment out to the “United States Treasury”.

Taxpayers with extensions should file their returns by Oct. 15, even if they can’t pay the full amount due. Doing so will avoid the late-filing penalty, normally five percent per month, that would otherwise apply to any unpaid balance after Oct. 15. However, interest and late-payment penalties will continue to accrue.

Fresh Start for Struggling Taxpayers

In many cases, those struggling to pay taxes qualify for one of several relief programs, including those expanded earlier this year under the IRS “Fresh Start” initiative.

Most people can set up a payment agreement with the IRS on line in a matter of minutes. Those who owe $50,000 or less in combined tax, penalties and interest can use the Online Payment Agreement to set up a monthly payment agreement for up to six years or request a short-term extension to pay. Taxpayers can choose this option even if they have not yet received a bill or notice from the IRS.

Taxpayers can also request a payment agreement by filing Form 9465-FS. This form can be downloaded from IRS.gov and mailed along with a tax return, bill or notice.

Alternatively, some struggling taxpayers qualify for an offer-in-compromise. This is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed. Generally, an offer will not be accepted if the IRS believes the liability can be paid in full as a lump sum or through a payment agreement. The IRS looks at the taxpayer’s income and assets to make a determination regarding the taxpayer’s ability to pay.

Details on all filing and payment options are on IRS.gov.

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 Parishes that qualify for tax relief due to Hurricane Isaac:

Ascension, Assumption, East Baton Rouge, East Feliciana, Iberville, Jefferson, Lafourche, Livingston, Orleans, Plaquemines, St. Bernard, St. Charles, St. Helena, St. James, St. John the Baptist, St. Mary, St. Tammany, Tangipahoa, Terrebonne, Washington and West Feliciana parishes

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Louisiana Department of Revenue offers relief to taxpayers affected by Hurricane Isaac

Hurricane-Isaac(8_12)_7in

BATON ROUGE – The Louisiana Department of Revenue (LDR) is granting filing and payment extensions to taxpayers whose homes, principal places of business or critical tax records are in parishes or counties affected by Hurricane Isaac.

Excise, sales & severance taxes

LDR will waive late filing penalties, late payment penalties and interest on returns and payments due on or after August 26, 2012, and on or before September 30, 2012.  The extended deadline is October 15, 2012.

Income

The extension is available for individual income, corporation income, franchise, fiduciary and partnership taxes, and estimated tax payments with original or extended dates on or after August 26, 2012, and on or before January 11, 2013.  The extended deadline is February 11, 2013.

Withholding

The extension is available to employers whose principal place of business or critical tax records are located in any of the Louisiana parishes or Mississippi counties listed below.  It applies to withholding payments due on or after August 30, 2012, and on or before September 30, 2012.  LDR will waive penalties and interest on withholding returns and payments received by October 31, 2012.

PARISHES AND COUNTIES ELIGIBLE FOR HURRICANE ISAAC-RELATED LOUISIANA FILING EXTENSIONS
LOUISIANA PARISHES MISSISSIPPI COUNTIES
Ascension Hancock
Assumption Harrison
East Baton Rouge Jackson
East Feliciana Pearl River
Iberville  
Jefferson  
Lafourche  
Livingston  
Orleans  
Plaquemines  
Pointe Coupee  
St. Bernard  
St. Charles  
St. Helena  
St. James  
St. John the Baptist  
St. Mary  
St. Tammany  
Tangipahoa  
Terrebonne  
Washington  
West Baton Rouge  
West Feliciana  

 Visit www.revenue.louisiana.gov/Isaac for more information.

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Request state tax filing extensions before the May 15 filing deadline

BATON ROUGE – Louisiana taxpayers who need more time to file their 2011 state individual income tax returns must request an extension on or before the May 15, 2012, due date.

Visit www.revenue.louisiana.gov/extensions to request a filing extension electronically.  This is the fastest and most convenient method of requesting an extension.  It requires only your name and Social Security Number, along with a valid e-mail address if you would like to receive confirmation.

An extension request applies only to an extension of time to file a Louisiana individual income tax return.  An extension does not grant additional time to pay any taxes due.  Payments received after the return due date are subject to interest and late payment penalties.

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LDR accepting resubmission of 2010 filing extensions through August 15, 2011

BATON ROUGE – August 15, 2011, is the deadline for all filing extension requests related to 2010 Louisiana individual income tax and 2010 Louisiana Corporation Income and Franchise tax returns that were returned due to the failure to include a Louisiana tax account number.

LDR requires a Louisiana tax account number on all paper filing extensions submitted via state form CIFT-620EXT or IRS Form 7004.  Extensions cannot be processed without the account numbers. 

LDR will waive delinquent filing penalties for 2010 filing extension resubmissions that meet the August 15 deadline.  Those that fail to meet the deadline will be subject to delinquent filing penalties.

The resubmission should include only the extension request, not the full tax return.

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LDR Statement on Electronic Filing of Extensions

The Louisiana Department of Revenue (LDR) announced Thursday that it will not require the electronic filing of corporate and individual income tax extensions and payments for 2010 tax returns due in 2011.

On November 20, 2010 notices of intent for LAC 61:III.1503, LAC 61:III.1505, LAC 61:III.2501 and LAC 61:III.2503 were published in the Louisiana Register. The proposed rules would have required electronic filing of corporate and individual income tax extensions and extension payments beginning with returns due on or after January 1, 2011. LDR will not proceed with rulemaking for these four notices of intent.

LDR does intend to mandate electronic corporate and individual income tax extensions and extension payments beginning with the 2012 filing season/2011 tax year. The department will publish an advance notice of proposed rulemaking in the Potpourri section of the March or April 2011 issue of the Louisiana Register to allow stakeholders to participate in the rulemaking process well before the implementation date.

LDR encourages all taxpayers and tax professionals to take advantage of the benefits of electronic filing of extensions and extension payments.  For more information about electronic filing and payment options, including extensions and bulk filing, visit the LDR E-services page at revenue.louisiana.gov.

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