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NO. 1130 OCTOBER 2024ExtendandPretend in the U.S. CRE Market Matteo Crosignani | Saketh PrazadExtendandPretend in the U.S. CRE Market Matteo Crosignani and Saketh Prazad Federal Reserve Bank of New
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Extend-and-pretend refers to the process of extending the deadline for filing taxes while also indicating that the taxpayer intends to provide additional information later.
Typically, individuals or businesses that are unable to complete their tax return by the original deadline are required to file for an extension.
To fill out the extension form, taxpayers must provide key information including their name, address, Social Security number, and an estimate of their tax liability.
The purpose of extend-and-pretend is to grant taxpayers additional time to submit their tax returns while allowing them to avoid penalties for late filing.
The form typically requires personal identification details, estimated tax liability, and the reason for needing an extension.
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