It really depends on your tax situation and the contents of your return. In a previous post, I was referring to certain non-revocable taxpayer elections that can only be made on a timely-filed original return. Normally, these must be made by the due date of the return (including extensions). A taxpayer who misses the filing deadline for a regulatory election may request a letter ruling from the IRS granting an extension of time to make the election under Regs. Sec. 301.9100-3. The IRS will grant relief only for failure to timely file a regulatory election, not a statutory election, under this provision. Relief will be granted if the taxpayer provides evidence that establishes to the satisfaction of the IRS that the taxpayer acted reasonably and in good faith, and the grant of relief will not prejudice the interests of the government. That is a difficult and expensive process, and good luck meeting such criteria if you're doing it to get a higher refund.
