Fliesher, Dishman and Beck LLP


	If you are unable to file your 2001 tax return by April 15, 2002, you may get an automatic 4 month extension of time by filing Form 4868, Application For Extension of Time To File U S Individual Tax Return. By filing Form 4868, you can avoid a late filing penalty. However, this extension is only an extension of time to file your return; it does not give you more time to pay the tax you owe. You will be charged interest on any tax owed but not paid by April 15. You may also be charged a late payment penalty. If you need an extension of time to file, you may be able to avoid paying interest and penalties by estimating how much tax, if any, you will owe, and including that payment with your Form 4868. If you owe an additional amount of tax when you file your return, you will be charged interest from April 15 on the unpaid balance. You will also be charged a late payment penalty if the amount you owe is more than 10 percent of your actual tax liability. The deadline to file with an extension is August 15, 2002. You can apply for an additional 2 month extension either in a letter or by filing Form 2688, Application For Additional Time to File U S Individual Tax Return by the extended due date of the return. Mail your application early, because this extension is not automatic. You will be notified by the IRS whether your application has or has not been approved. Interest on any unpaid balance is charged from April 15^th until the date paid. An extension of more than 6 months will not be granted if you are in the United States. If your return is completed but you are unable to pay the tax due, do not request an extension. File your return by April 15^th and pay as much as you can. The IRS will send you a bill or notice for the balance due. You may also request an installment agreement by completing Form 9465, Installment Agreement Request. You will be notified if your request has been approved, or if additional information is needed. You will be charge interest and may be charged a late payment penalty on any tax not paid by April 15^th, even if your request to pay in installments is granted, you must also pay a fee of $43.00. FAQ's.......