Amends existing law to revise provisions regarding the extension of time for certain filing deadlines.

This legislation updates the process for filing income tax extensions. The income tax process is complicated and many taxpayers, particularly those with complicated returns, routinely need to file extensions. This legislation simplifies the Idaho extension process and accomplishes the following: Gives every Idaho taxpayer an automatic extension to file a return, but not an extension for the payment of taxes due. Eliminates the failure-to-file penalty for returns not filed when originally due. Reduces the failure-to-pay penalty from 2% per month to 1% per month. The Idaho extended due date is the 15th day of the seventh month following the close of the taxable year.