The extension deadline is October 15th; however, you are correct all tax liability must be paid by April 15th. In fact, 90% of all tax liability must be paid by December 31st of the tax year; otherwise the tax payer is required to pay penalty and interest on the unpaid amount.

Based on Governor Romney's income generated almost exclusively from investment income and if he wants to avoid penalty and interest payments, he needs to have a fairly accurate assumption of his tax liability by the close of the tax year - in this case by December 31, 2011.

The widom is - Willards refusal to issue 10 years of returns, something all POTUS candidates do, is an issue for a lot of voters.

The fact that you find the annoyance of flies and love bugs more acceptable means nothing.

Dems are correct in talking about this issue. It plays well in middle america.

Willard is now even losing Florida !!!

You say the Dems see this as an ISSUE THEREIN lies the problem.....ignore the issues facing the country...again, if he paid NO taxes from day one and did it legally....I assure you that I dont care if Barrack gives me any more than the law allows


SO WHAT

If it's a SO WHAT ................ why won't Willard release them? Something tells me there's more than a SO WHAT involved here.

Personally, I welcome his refusal - the more he refuses, the better it is for Obama.

Well, Barrack is sure pushing anything but our countries problems. I sure hope the voters do not vote on anything but what is the right plan for the USA !

guess issuing 10 yrs of returns is something candidates USED to do! congrats to mitt for following the rules. it is NOT an issue - it is a DEFLECTION from the facts re the state of the us of a!

finding flies, loves bugs,etc more annoying SHOULD mean something to the hammerers - it means i am tuning them OUT and will NOT listen to their whining!

it is NEVER a good thing to lose listeners whether they are in middle america or not!

so what about the polls!

Let's see .......... Bin Laden is gone ........ Khaddafy is gone. Assad has one foot on a banana peel.

Dow is over 13k. 401(k)'s making $$ - finally................

165k jobs last month (remember when he took office we were losing 3/4 of a million jobs a month .........


he's got my vote

maybe for some - BUT my husband and i figure our return is complete when the irs and both of us agree on a final number re who owes who and how much!

deficit is not cut in half

unemployment is UP - AGAIN!

illegals are still pouring thru our borders

now the children of illegals can legally take some of those newly created jobs away from americans

obama has been secretly supporting the rebels in syria

banks are still not paying any interest to speak of on our savings

and obamacare is gonna kill me - just don't know if it will be financially or physically first!

mitt's got my vote!

President Obama is out there every day explaining to people how Mitt Romney's tax plan will increase their taxes up to $2000 per year while giving him and other millionaires an $87,000 tax decrease annually per the new tax report study.

The president can't do much about the sequestration, that the congress passed, since they all left town yesterday, not returning until September. Congress also left the Farm Bill, the Violence Against Women Act, and much more unfinished business on the table. But they did manage to vote on the English as the official language bill yesterday and several more abortion bills before they left town.

If that's the case, then you and your husband will have to wait seven years. That is how long the IRS has to review your returns and audit you. Always keep those returns and receipts in a safe place.

we know that - and we DO! thanx

A couple of points here - Banks are still not paying any interest to speak of on savings. Definitely true but interest on loans and mortgages is at a very low point also. Remember under Carter that interest on savings was paying 10% but interest rates on mortgages was 15%? What is good for some is not good for others.

Lots of conservative posters here have been arguing that Obama should start arming rebels in Syria. Good idea or not? Time will tell. I say not.

Obamacare is not going to hurt you financially at all - and you will continue to get the same quality and timeliness of healthcare you get right now.

I didnt read the arming of the rebels anywhere but assume it is true, just felt we should do something and not sure helping folks we dont know is correct.

BUT,,,what I would love for you to do is to read the abbreviated list of how we are to pay for Obama care...this is from the law itself and used by the CBO to cost it out (which cost continues to rise) and explain to me the certainty of these items so I can have your confidence that this will not hurt anyone financially.

1. .....Government payments to Medicaire advantage will be reduced by
132 Billion over 10 years

2. .....Medicaire payments for home health care will be reduced by 40 Billion

3. .....Extra social security taxes to be paid because of pay raised that folks
will receive in lieu of companies paying for health insurance

The above particular one intrigues me a lot..talk about maybe's

4. .....Medicaire payments for home health care will be reduced by 40 Billion

5. ..... A 3.9 tax on investment income for individuals over 200M and families over 250 M starting next year.

This next one is very intriguing...

6, .....Codification of the "economic substance doctrine" (Tax hike of $4.5 billion). This provision allows the IRS to disallow completely--legal tax deductions and other legal tax-minimizing plans just because the IRS deems that the action lacks "substance" and is merely intended to reduce taxes owed.


That is just a few of them.....but lets start with them....to me, it is a no brainer that the cost will continue to grow as time goes by...tell me again to relax.

This does not include the tax we will pay if we dont have insurance, nor a number of others.

Finally, a post with an intelligent foundation!