The Delaware 1027 form is an application that allows individuals to request an automatic extension of time to file their Delaware individual income tax return. By completing this form, taxpayers can gain an additional five and a half months to prepare their returns without facing immediate penalties. It is essential to submit this application on time to ensure compliance and avoid unnecessary fees.
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The Delaware Form 1027 serves as a crucial tool for individuals seeking an automatic extension of time to file their Delaware personal income tax returns. This form allows taxpayers to request an additional five and a half months, extending the deadline to October 15, provided it is filed correctly and on time. It is essential to prepare this application in duplicate, as the original must be submitted to the Division of Revenue by the due date, while the duplicate should accompany the completed tax return. The form requires taxpayers to estimate their total income tax liability and report any Delaware income tax withheld, as well as prior year overpayments and other credits. The balance due, calculated by subtracting the total payments from the expected tax liability, must be paid in full at the time of application. Importantly, while the extension allows for more time to file, it does not extend the time for payment; interest will accrue on any unpaid tax. Taxpayers should also be aware that if the balance due is zero or less, an extension application is unnecessary, and separate applications are required for spouses filing separately. Adhering to the specific instructions and deadlines outlined in the form is vital to avoid penalties and ensure compliance with Delaware tax laws.
When filling out the Delaware 1027 form, it's crucial to adhere to specific guidelines to ensure a smooth process. Here are five important dos and don'ts:
DELAWARE
TAX YEAR
FORM 1027
2009
DO NOT WRITE IN THIS BOX
001-26
APPLICATION FOR AUTOMATIC EXTENSION OF TIME TO FILE A DELAWARE INDIVIDUAL INCOME TAX RETURN
NOTE: PREPARE THIS FORM IN DUPLICATE. THE AMOUNT SHOWN ON LINE 6 BELOW.
FILE THE ORIGINAL WITH THE DIVISION OF REVENUE, STATE OF DELAWARE ON OR BEFORE THE DUE DATE AND PAY ATTACH THE DUPLICATE TO YOUR DELAWARE PERSONAL INCOME TAX RETURN.
PLEASE
PRINT
OR
TYPE
NAME, (IF JOINT RETURN, GIVE FIRST NAMES AND INITIALS OF BOTH)
LAST NAME
YOUR SOCIAL SECURITY NUMBER
PRESENT HOME ADDRESS (NUMBER & STREET, INCLUDING APT. NUMBER OR RURAL ROUTE)
SPOUSE’S SOCIAL SECURITY NUMBER
CITY, TOWN OR POST OFFICE
STATE
ZIP CODE
AN AUTOMATIC EXTENSION OF TIME UNTIL OCTOBER 15, 2010 IS HEREBY REQUESTED IN WHICH TO FILE A DELAWARE PERSONAL INCOME
TAX RETURN FOR THE CALENDAR YEAR 2009 (OR IF A FISCAL YEAR RETURN UNTIL
, 20
FOR THE
TAXABLE YEAR BEGINNING
).
1.TOTAL INCOME TAX LIABILITY YOU EXPECT TO OWE FOR 2009....................................................................
2.DELAWARE INCOME TAX WITHHELD....................................................
3.TAX YEAR 2009 ESTIMATED TAX PAYMENTS (INCLUDE PRIOR YEARS OVERPAYMENT ALLOWED AS A CREDIT)...............................
4.OTHER PAYMENTS & CREDITS..............................................................
5.TOTAL (ADD LINES 2, 3, AND 4)..............................................................................................................................
6.BALANCE DUE (SUBTRACT LINE 5 FROM LINE 1). PAY IN FULL WITH THIS APPLICATION
........................................................................................................................................................BALANCE DUE>
SIGNATURE AND VERIFICATION
IF PREPARED BY TAXPAYER: UNDER PENALTY OF PERJURY, I DECLARE THAT TO THE BEST OF MY KNOWLEDGE AND BELIEF, THE STATEMENTS MADE HEREIN ARE TRUE AND CORRECT.
YOUR SIGNATURE
DATE
DAYTIME PHONE N0.
SPOUSE’S SIGNATURE
DAYTIME PHONE NO.
(IF FILING JOINTLY, BOTH MUST SIGN EVEN IF ONLY ONE HAD INCOME)
IF PREPARED BY SOMEONE OTHER THAN TAXPAYER: UNDER PENALTIES OF PERJURY, I DECLARE THAT TO THE BEST OF MY KNOWLEDGE AND BELIEF, THE STATEMENTS MADE HEREIN ARE TRUE AND CORRECT, THAT I AM AUTHORIZED BY THE TAXPAYER TO PREPARE THIS APPLICATION, AND THAT I AM:
A MEMBER IN GOOD STANDING OF THE BAR OF THE HIGHEST COURT OF (SPECIFY JURISDICTION)....
A CERTIFIED PUBLIC ACCOUNTANT DULY QUALIFIED TO PRACTICE IN (SPECIFY JURISDICTION)..........
A PERSON ENROLLED TO PRACTICE BEFORE THE INTERNAL REVENUE SERVICE
A DULY AUTHORIZED AGENT HOLDING A POWER OF ATTORNEY WITH RESPECT TO FILING AN EXTENSION OF TIME. (THE POWER OF ATTORNEY NEED NOT BE SUBMITTED UNLESS REQUESTED)
A PERSON STANDING IN CLOSE PERSONAL BUSINESS RELATIONSHIP TO THE TAXPAYER, WHO IS
UNABLE TO SIGN THIS APPLICATION BECAUSE OF ILLNESS, ABSENCE, OR OTHER GOOD CAUSE. MY
RELATIONSHIP TO THE TAXPAYER AND THE REASON WHY THE TAXPAYER IS UNABLE TO SIGN THIS
APPLICATION ARE:
SEE INSTRUCTIONS ON REVERSE SIDE
INSTRUCTIONS
1.This application is to be used by an individual to request an automatic five and half (5 ½) month extension of time to file Form 200-01, 200-02, or 200-03 EZ. An extension of time to file may be filed on-line at www.revenue.delaware.gov instead of filing this paper form. If you wish to file the form 1027 extension on-line and you owe tax, you must use a direct debit from your checking or savings account.
An extension will be granted upon the timely and proper filing of this form with payment of any required amount shown on Line 6. If an extension is not filed timely (see #4 below), it will be denied.
CAUTION: This is not an extension of time for the payment of tax. Interest will accrue at the rate of one-half percent (½%) per month on any unpaid balance of tax from the original due date of the return until the tax is paid.
2.An application for extension is not required if the balance due on the return will be zero or less and an extension has been filed with the Internal Revenue Service. If when the return is filed and a balance due is owed, a penalty will be assesssed for filing the return late. If you have a doubt as to whether the final return will be a balance due, file Form 1027 for an extension.
3.If you and your spouse will be filing Separate (filing status 3) Delaware personal income tax returns, a separate Application for Extension, Form 1027, MUST BE filed for each spouse.
4.File this application on or before April 30th, OR before the original due date of Form 200-01, 200-02, OR 200-03 EZ, if you are filing a fiscal year return. However, if the due date for filing your return falls on a Saturday, Sunday or legal holiday, substitute the next regular business day.
5.Complete this form in duplicate. Entries must be made on Lines 1 through 6. File the original with the Division of Revenue and pay the amount shown on Line 6. Attach the duplicate to the FACE of Form 200-01, 200-02, OR 200-03 EZ when it is filed.
6.When filing Form 200-01, 200-02, OR 200-03 EZ, in order to claim credit for payment made with this application, show the amount paid under estimated tax paid and payments with extensions on the face of the return. If you file a joint application (you and your spouse), but elect to file a combined separate return, the payment made with this application may be claimed by either spouse or divided in any agreed amounts.
7.Any unpaid portion of the final tax will bear interest at the rate of one-half percent (½%) per month (or fractional part thereof) on any unpaid balance of tax from the original due date of the return until the tax is paid.
8.Penalty - The law imposes a penalty of five percent (5%) per month (or fractional part thereof) of the tax for failure to file a timely return, unless you can show reasonable cause for failure to file. If the return is not filed within the period of the extension granted (i.e.: by October 15th), the penalty will be assessed unless reasonable cause is established.
9.Blanket Requests - Blanket requests for extensions will not be granted. You must submit a separate application for each return.
Subsequent Extensions
To extend your due date beyond October 15, file a photocopy of your approved Federal extension with the Delaware Division of Revenue on or before the expiration granted on Form 1027. An approved additional federal extension will extend the due date of your Delaware return to the same date as your additional federal extension due date. A photocopy of the approved Federal extension must be attached to the final return when filed.
MAKE CHECK PAYABLE AND MAIL TO: DELAWARE DIVISION OF REVENUE, P.O. BOX 508, WILMINGTON, DE 19899-0508 IF NO CHECK IS ENCLOSED, MAIL TO: DELAWARE DIVISION OF REVENUE, P.O. BOX 8765, WILMINGTON, DE 19899-8765
REVISED 11/19/2009
The IRS Form 4868 serves as a request for an automatic extension of time to file a federal individual income tax return. Like the Delaware Form 1027, it allows taxpayers to extend their filing deadline, typically by six months. However, while the Delaware form requires payment of any balance due at the time of filing, the IRS form does not mandate payment unless taxes are owed. Both forms aim to provide taxpayers with additional time to prepare their returns, but they operate under different jurisdictions and specific requirements.
For those needing to make updates, the important Affidavit of Correction process ensures that minor discrepancies on official Texas records can be rectified smoothly and efficiently, preserving the integrity of important documentation.
California's Form 3519 is another document similar to the Delaware 1027. This form is used to request an extension for filing California personal income tax returns. Similar to the Delaware form, it allows for a six-month extension but requires taxpayers to estimate and pay any taxes owed at the time of filing. Both forms share the goal of assisting taxpayers in meeting their obligations while allowing them extra time to gather necessary documentation.
The New York State Form IT-370 is also comparable to the Delaware 1027. This form requests an extension of time to file New York personal income tax returns. Like its Delaware counterpart, it provides an automatic extension for six months but requires an estimate of taxes owed to be submitted with the application. Both forms are designed to ease the burden of tax preparation, ensuring that taxpayers can file accurate returns without the pressure of immediate deadlines.
Florida's Form DR-501 is another relevant document. This form serves as a request for an extension to file Florida individual income tax returns. Similar to the Delaware 1027, it grants an automatic extension but requires taxpayers to pay any owed taxes at the time of filing. Both forms facilitate a smoother tax filing process by allowing taxpayers to take the necessary time to prepare their returns without incurring late fees, provided they meet the payment requirements.
The Texas Form 104 is also akin to the Delaware 1027. This form allows Texas residents to request an extension for filing their personal income tax returns. While Texas does not impose a state income tax, the form serves a similar purpose in extending deadlines for other tax-related filings. Both forms underscore the importance of timely submissions while accommodating taxpayers' needs for more preparation time.
The Michigan Form 4 is another extension request form that parallels the Delaware 1027. This form is utilized to request additional time for filing Michigan individual income tax returns. Like the Delaware form, it allows for an automatic extension but requires any estimated tax payments to be made at the time of filing. Both forms aim to alleviate the stress of tax season by providing taxpayers with the flexibility to file accurately and on time.
Illinois Form IL-505-I is also similar to the Delaware 1027. This form requests an extension of time to file Illinois individual income tax returns. Both forms allow taxpayers to extend their filing deadlines by six months, but they also require payment of any estimated tax due at the time of filing. This common requirement emphasizes the importance of addressing tax liabilities promptly, even when additional time is granted for filing.
The Virginia Form 760IP serves a similar function to the Delaware 1027. It is used to request an extension of time to file Virginia personal income tax returns. Like the Delaware form, it allows for an automatic extension but requires taxpayers to pay any balance due when submitting the application. Both forms share a commitment to helping taxpayers manage their tax responsibilities while ensuring compliance with state laws.
Washington State’s Form 700 serves as another parallel document. Although Washington does not have a state income tax, this form is used for other tax-related extensions. Similar to the Delaware 1027, it allows for an extension of deadlines, although the specific requirements differ due to the absence of an income tax. Both forms reflect the need for flexibility in tax preparation, catering to the unique tax structures of their respective states.
Finally, the Pennsylvania Form REV-276 is similar to the Delaware 1027. This form requests an extension for filing Pennsylvania personal income tax returns. Like the Delaware form, it allows for an automatic extension of six months, provided that any taxes owed are paid at the time of filing. Both documents are designed to ease the tax filing process, ensuring that taxpayers can meet their obligations without unnecessary stress.
Neglecting to File on Time: One of the most common mistakes is failing to submit the Form 1027 by the deadline. The form must be filed by April 30th or the original due date of your tax return. Missing this deadline can result in penalties and interest on unpaid taxes.
Incorrect Payment Amount: Many individuals miscalculate the balance due. It’s crucial to accurately complete Line 6 by subtracting the total payments and credits from your expected tax liability. An incorrect amount can lead to complications in your tax filing.
Omitting Required Signatures: If you are filing jointly, both spouses must sign the form. Failing to do so can delay the processing of your application and may result in penalties.
Not Preparing in Duplicate: The instructions clearly state that the form must be prepared in duplicate. Individuals often overlook this requirement, leading to issues when attaching the duplicate to their final tax return.
Ignoring the Need for Accurate Information: Providing incorrect personal information, such as Social Security numbers or addresses, can create significant problems. Ensure that all entries are accurate and match the information on your tax documents.
The Delaware 1027 form is an application for an automatic extension of time to file a Delaware individual income tax return. When submitting this form, there are several other documents that may be needed to ensure a smooth filing process. Below is a list of those commonly used forms and documents.
Being aware of these documents can streamline the tax filing process and help ensure compliance with Delaware tax regulations. Each form serves a specific purpose and may be necessary depending on your individual circumstances.
Filling out the Delaware 1027 form is an important step for individuals seeking an automatic extension for filing their Delaware personal income tax return. After completing the form, it is essential to file the original with the Division of Revenue and pay any balance due by the specified deadline.
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To ensure a smooth transaction, understanding the significance of a well-drafted essential motorcycle bill of sale is crucial for both buyers and sellers in California. This document not only verifies the transfer of ownership but also serves as an important legal record. For further details, you can visit the official guide on motorcycle bill of sale.
Delaware Power of Attorney - You can specify limits to the powers you grant for additional security.