@vympel001 wrote:
Thank you for your reply. A few follow up questions -
1. If the extension filed by me gets rejected (because my CPA already file). Does that in any way lead to future tax problems, increased scrutiny in my account or increase in chances of audits?
2. Does IRS/NY/NJ tax authorities share any acknowledgement/confirmation that your extension has been filed and accepted? My tax advisor is now telling me that they don't share anything
3. My CPA is telling me that I am due a refund from all the tax authorities so I don't need to worry about filing an extension. In fact, even if I don't file an extension I should be fine. Is this true??
#1 no.
#2 If NY/NJ requires a extension then you must file it with them separately.
3# I answered that above. (The only benefit of an extension if you are getting a refund, is if you have some other corrective action (like removing an excess contribution form a IRA) that must be done by the due date, or extended due date.)
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
