Newspapers / The Brunswick Beacon (Shallotte, … / April 14, 1994, edition 1 / Page 33
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How To Obtain Tax Extensions SS ?w~" STAFF PHOTO CY SUSAN USHER Russ Wins VCR Mary I.. Russ of Shallotte, a Brunswick County Cooperative Ex tension Service home economist, was the winner of a videocassette recorder raffled by the West Brunswick Branch Friends of the Library to raise funds for temporary relocation of the library. Shown (from left) are Russ, Friends of the Library volunteer Tom Bonniol and Wal-Mart Manager Leon Graham. Wal-Mart donated the VCR. If you don't think you'll have the time to complete your 1993 federal income tax return by the April 15 due date, the N.C. Association of Certified Public Accountants points out that you can easily obtain an ex tension to file your tax return. What's more, if you're subject to a retroactive tax increase as a result of the Omnibus Budget and Reconciliation Act of 1993, you can pay part of your 1993 tax liability after April 15. Automatic Extensions You can obtain an automatic four-month extension of time to file your tax return by filing Form 4868 by April 15. You are not required to provide the IRS with any reasons for requesting this extension. If you are on active military duty outside the United States or Puerto Rico on April 15, 1994, you get an automatic two-month extension (un til June 15) to file your tax return, without the necessity of filing Form 4868. United States citizens and resi dents who live or have their princi pal place of business abroad on April 15 also qualify for the auto matic two-month extension without filing Form 4868, but must attach an explanatory statement to their tax return. These individuals can obtain an additional two-month extension (until August 15) by completing Form 4868. Additional Filing Extensions If you reach the end of the four month automatic extension period and still need more time to file, you can request an additional two months by filing Form 2688, "Application for Additional Exten sion of Time to File." However, you must provide the IRS with a reason for requesting this extension. Acceptable reasons might include the fact th.?t you have not yet re ceived necessary documents, such as a Partnership K-l, or that you have been seriously ill. Keep in mind that the IRS will only grant you the additional two-month ex tension if you had previously filed E-orm 4868. Late Payment Penalties Obtaining a filing extension does not excuse you from paying your 1993 taxes on time. You must esti mate your 1993 tax liability and send the balance of taxes due to the IRS by the April 15 due date. Failure to pay your taxes on time could result in a penalty of one-half of 1 pcrcent of the tax not paid for each month (or part of a month) it remains unpaid, up to a maximum of 25 percent. You may also be hit with a penalty if the unpaid taxes are more than 10 percent of your to tal tax liability. You will also have to pay interest on any taxes due from April 15 until the date your payment is received by the IRS. Be aware that special rules apply to people in the Armed Forces. Payment Extensions What if you simply cannot pay your tax liability at the time you file for an extension? In such cases, you must submit Form 1127. This form requires you to document the details of any extraordinary hardship pre venting you from paying your taxes on time. The IRS will review your case to determine if a late payment is acceptable. There are also proce dures for requesting an installment payment agreement when you file your return. Individual taxpayers who are li able for additional 1993 taxes solely by reason of the income tax rate in creases under the new law may elect to pay the additional 1993 tax es in three equal installments. You must make this election on your 1993 income tax return by filing Form 8841. The first payment is due April 15 (or for fiscal-year taxpayers, the ini tial due date of their income tax re turns), with the second and third in stallments due on April 15 of each succeeding year. This will apply even if you end up getting a refund on your 1993 tax return. No interest or underpayment of estimated tax penalty will be chargcd if you pay the taxes attrib utable to the retroactive rate in crease on this installment basis. About Your Refund... If you arc expecting a tax refund, keep in mind that the IRS has 45 days from the later of the original due date of your tax return or the date you actually file the return to issue you a refund and does not need to pay you any interest on the refund amount. Different rules ap ply to amended returns. MONEY $ $ $ $ AND ENERGY / iSfeK Storm doors & windows will save on your heating and cooling bill i" Heat water with a new energy efficient electric water heate BUSINESS BRIEFS Hunt Appoints Rudd To Regional Economic Board Margaret L. Rudd of Southport is one of three gubernatorial ap pointees to the Southeastern North Carolina Regional Economic Deve lopment Commission. Gov. Jim Hunt also appointed J.C. Batchelor Jr. of Elizabethtown and Henry Eugene Miller Jr. of Wilm ington to the 15-member commis sion to promote economic develop ment and tourism in North Caro lina's southeastern counties. Three members are appointed by the governor, two by the lieutenant governor, five by the speaker of the House of Representatives, and five by the president pro tem of the Senate. Each member serves a four year term. Rudd is co-owner of Margaret Rudd and Associates Inc. Realtors in Southport. A 1967 graduate of N.C. State University, she is a director and past president of the Brunswick County Board of Realtors and a board member of the Southport-Oak Island Chamber of Commerce. She is also past director of the N.C. Association of Realtors and South port 2000, a community develop ment organization. Employee Of Quarter Rebecca Owen has been naned Employee of the Quarter at Military Ocean Terminal Sunny Point. Owen is a transportation clerk with the Traffic Man agement Divi sion and is re sponsible for OWEN her division's clerical work, main taining the library, securing supplies and completing time cards. She also handles air transportation and vehi cle rental arrangements for com mand personnel traveling on tempo rary duty. She was named Employee of the Quarter for the first quarter of fiscal year 1994 for "her outstanding sup port when her division assumed re sponsibility for the Rail Operations and Transit Services branches," ac cording to a MOTSU news release. Owen has been at Sunny Point for tour years. She and her husband Jack have two daughters and three grandchildren. New Doctors On Staff Drs. David O. Croland of Little River and Patrick K. Ryan of Cala bash have been granted active staff privileges in family practice at Grand Strand General Hospital in Myrtle Beach, S.C. Drs. Croland and Ryan have a pri vate practice, Strand Primary Care Specialists, in Little River. Croland received his undergradu ate education from the University of Florida and his medical degree from Southeastern University of Health Sciences, College of Osteopathic Medicine in Miami, Fla. After com pleting an internship at Brookdale Medical Center, Brooklyn, N.Y, he completed a residency at Sparrow Hospital in Lansing, Mich., in June 1992. Originally from Queens, N.Y., Croland lives in Little River. Ryan received his undergraduate degree at California State University in Fullerton and his medical degree from the University of Health Science, College of Osteopathic Medicine in Kansas City, Mo. He BUILDER ADDITIONS Enclosures ? Kitchens Baths...Design Service State Licensed Pete Perry ? 9 AM-9 PM (919)488-0993 completed both his internship and residency at Still Regional Medical Center in Jefferson City, Mo., in 1990 and 1992, respectively. Originally from Turlock, Calif., Ryan lives in Calabash with his wife and two children. Croland is certified by the Ameri can Board of Family Practice. Ryan is certified by, and a diplomate of, the American Osteopathic Board of Family Practice. Edge Promoted Gary Edge has been named asso ciate director of design engineering of Mitsubishi Semiconductor Ame rica in Durham. Edge is a Brunswick County na tive and a graduate of the University of North i arolina at Chapel Hill He joined Mitsubishi Semiconductoi in 1984 as a systems analyst. Edge and his wife Debbie have two children and live in Durham. CHHC Certified Comprehensive Home Health Care has announced that Compre hensive Hospice was certified for Medicare/Medicaid effective Mar. 30. The Wilmington-based company operates in 29 counties, including Brunswick. FmHA Seeks Minority, Female Support In Committee Election Farmers Home Administration is their principal farming operations seeking the support and participation within the county or area in which of minorities and women in the June the election is being held, are eligi 14 FmHA committee election, ac- ble to be nominated." cording to the organization's Bruns- Also, one FmHA borrower at a wick County supervisor. time is allowed to serve on the com "The agency feels it is important mittee. that the committee reflect, to the ex- Nominations will be accepted tent practicable, the diversity of the through April 25. To nominate individuals served by its programs," someone, call the FmHA office at said Ted C. Rivenbark Jr. "Min- 754-4880 or stop by the office at the orities and women, along with other Promenade Office Park, 143 West farmers and their spouses who have Holden Beach Road, Shallotte. A/ . I Dissa.irfs" Richard C. Glenn SECURITIES AMERICA, INC. PO Box 2865 18 Resort Plaza Shallotte, NC 28459 Shallotte (910)754-6771 Member NASD/SIPC w" TAME YOUR TELEPHONE ...with Advanced Calling REPEAT DIALINC Services from your telephone company How many times have you run to grab a ringing telephone, only to hear dialtone? Or spent what felt like for ever trying to reach a busy number? Yet, because the telephone is so End the Pain of important to you, you continue to run, Redialing Busy Numbers and grab, and listen...no matter how . How Ul II ; . |O Q _ ji 11 i i ' i J* A ! . hear a busy signal? So you sit there and dial again, frustrated or angry you become. And again. And again. With Arivanrpri Pallinn ^^r\/iWith REPEAT DIALING, you simply dial a code and vviin Aavancea waning services, your phone dja)s the ,ast number you caned. it the line you can tame that telephone. You is busy, repeat dialing continues to dial until it can make it do things you never 9ets through, then lets you know it has. (irpampd nossiblp likp rpturn With REPEAT DIALING, you don't have to sit by the areamea possiDie... iiKe return phone t0 keep dia|jng repeat dialing does it for missed phone calls. So make your y0u. life a little more productive-and maybe a bit more fun-with Advanced Calling Services from your telephone ^ company. Call today and tell us you'd like to "Tame Your jiff* Telephone. \ CALL RETURN End the Annoyance of Hissed Phone Calls How many times have you rushed to a ringing phone-dripping wet from the shower or with a path of groceries strewn behind you-only to hear dialtone? With CALL RETURN, all you do is dial a code and your phone dials the number of the party who last called you. No more frantic rushes to answer the phone or wondering whether that missed call was the sweepstakes or Prince Charming. End the annoyance of missed phone calls with CALL RETURN. ATLANTIC TELEPHONE MEMBERSHIP CORP. P.O BOX 3198 ? SHALLOTTE, NC 2S459 ? 7S4-4311 ?1994 THE BRUNSWICK BEAC< UTILIZE COI OUR O/O WEATHERIZATION LOAN ON THIS ENERGY EFFICIENT COMFORT MACHINE Insulation on water pipes helps save energy, too Caulking around windo wss & doors is easy and Inexpens.ve Call Glenda Stanaland 754-4391 ext. 248 BRUNSWICK ELECTRIC MEMBERSHIP CORPORATION
The Brunswick Beacon (Shallotte, N.C.)
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April 14, 1994, edition 1
33
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