For most people, the deadline for filing your 2006 individual income tax return is April 15, 2008.  If you cannot file your return on time, be sure to file an extension request (Form 4868) with the IRS by this date. You must pay any tax due by the April 15th deadline to avoid penalties and interest. But an extension gives you until October 15, to file your return.

Filing an extension request by the deadline also gives you more time to make important decisions, including:

• Whether to recharacterize the type of IRA contribution (traditional or Roth) you made for 2008.
• Whether to change your mind about a 2008 Roth IRA conversion.
• Whether to establish and contribute to a SEP retirement plan for your business.
• Whether to contribute to certain other retirement plans, such as a Keogh or SIMPLE plan.
• Whether to make certain tax elections, such as the new deemed sale election for capital gains.

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• CHOOSING A TAX RETURN PREPARER
• CONSIDER YOUR TAX FILING STATUS WHEN PLANNING FOR DIVORCE
• TIMING MATTERS ON TAX LOSSES FOR WORTHLESS SECURITIES
• MAKE SURE YOU USE CORRECT SOCIAL SECURITY NUMBERS
• CHECK THE YEAR-END INFORMATION FORMS YOU RECEIVE 
• A TAX PROFESSIONAL GIVES YOU MORE THAN A TAX RETURN
• PROTECT YOURSELF WITH A TAX EXTENSION 
• ITEMIZING COULD SAVE YOU MONEY 
• PUT MORE DOLLARS INTO YOUR IRA
• PAY ATTENTION TO THE "NANNY TAX"
• GET A TAX CREDIT FOR CHILD CARE EXPENSES

CONTACT US

Kahn, CPA PLLC
3343 Duke Street
Alexandria, VA 22314
703.370.0019
Fax: 703.997.4433
Information@KahnCPA.com