Forbidden Forms?

As reported on CBS News Saturday Morning, Form 1127 may be useful if you find yourself short of cash at tax time. The form is used to file for a six-month extension of the deadline to pay taxes.

According to tax expert Dan Pilla, up to six million people could have used the form, saving them a total of between one and two billion dollars. According to IRS representatives, form 1127 is not listed on the IRS Web site because "so few people are eligible."

In filling out the form, you have to show that you cannot borrow money to pay your taxes, as well as reveal to the IRS a statement of your assets and liabilities, and provide an itemized list of the money you received and spent for the three months prior to April 15.

While tax form 1127 isn't listed on the IRS Web site, it is available for download here at CBS.com, along with a variety of other state and federal tax forms.

Download the "forbidden forms"color>

Written by Sean Wolfe