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Tax extensions may be helpful for those who qualify

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TWC News: Tax extensions may be helpful for those who qualify
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RALEIGH -- The official date to file for federal tax returns and pay is April 17. But, this year some people may qualify for an extension.

"It's absolutely a good option. I was fortunate enough to think a little bit ahead this year and put enough money away, but if you are not really sure where you are going to land, and maybe some extra expenses come out, your car breaks down, or behind on rent, anything like that, you may have to dip into that tax fund and next thing you know you are three months behind in what you technically owe in taxes," said Fayetteville resident Anthony Liuzza.

Only certain people are eligible for this new extension that gives tax payers until Oct. 15 to file or pay, free of penalty.

"Wage earners who have been unemployed for at least 30 days in between 2011 and 2012 before April 17, and self-employed person who has lost about 25 percent of their regular income," said Alain Borthayre, a tax preparer in Raleigh.

The new form to file for the extension is available on the the IRS website.

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