Mark Your Calendars-
April 17 is just around the corner!!
Why April 17? Since April 15 falls on a Saturday
this year, you have two extra days to file your
2005 federal income tax return or request an extension.
Good news for extension filers—starting in
2006, the automatic federal extension period has
been increased from 4 months to 6 months using Form
4868. Your extended tax return will not be due until
October 16, 2006. The Hawaii Form N-101A continues
to provide a 4-month automatic extension to August
21 and Form N-101B is required to request an additional
2 months to October 20, 2006.
April 17 is also the last day to fund your 2005
IRA contributions. The 2005 Traditional and Roth
IRA contribution limit is $4,000 or $4,500 for ages
50 and over. The 2005 Education Savings Account
contribution limit is $2,000 per beneficiary.
By Laurie Young-Kagamida
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