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For that automatic six-month extension, you file form 4868. but we know it doesn't give you an extension of time to actually pay the irs. remember, if you cannot afford to pay the irs, and millions of taxpayers are going to be in that desperate situation, pick up the phone, call them up, and work something out. but get that tax return in. or that extension, so you'll delay and avoid very costly penalties. >> all right, last two speak for themselves. if you have questions, get professional help, and check the math. roni, good to see you as always. thanks very much for your great advice through ...

Taxes by the 15th? what are the penalties then? >> certainly. we can distinguish between someone who owes the irs and someone who does not owe. the latter first. 70% of all americans are not going to owe the irs. when they file for that six-month extension filing form 4868 by april 15th, here's the great news. they is six months to get organized and to get it right, because you and i know the irs are the auditing people at unprecedented rates. two plus two must equal four. talk about the other group hoop owes the irs money. give the example of $1,000. if you owe and you get that extension, all...

York. always good to have you on such thing. this year, two kinds of people. people who owe and people who don't owe. no matter when category you're in, do you have to -- you have to file something, whether taxes or extension by the 15th? >> great to talk to you as well. here's the great news. it is so easy to get an automatic six-month extension of time to file your tax returns whether you have a refund check coming or whether you owe the irs. all you need to know is this -- go irs.gov. get form 4868. either e-file it or nail to the irs by april 15th and you bet, t.j., you get an automatic si...

Procrastinating. there's still plenty of time whether you plan on having someone else do them for you or do them online, or break out the number 2 pencel and do them. this is the time to get cracking on it. if you need it, go ahead and file for an extension by the 15th of april. this will give you an additional six months until october 15th to file a return. you must file form 4868 and find it online at irs.gov. whether you're filing now or getting an extension, make sure you take advantage of all of the new tax credits and deduction available for 2009 like the first-time home buyer tax credit...

Going to run into trouble. what do i need to think about if i need an extension? >> as you point out, ali, it is crunch time. crunch times mean you have an important decision to make. are you prepared to file that return on april 15th, which you and i know millions of people and business owners will be unprepared this april 15th. i say don't panic. good news. you absolutely, as you point out, are entitled to a six-month extension to file by merely filing form 4868. as you pointed out, which is so important that most taxpayers are confused about you still owe the money to the irs. and here's ex...