Hello taxpayers! As the last date to report your personal income taxes for the year 2022 is approaching soon, it’s also time to apply for a tax extension if you need extra time to submit your tax reports to the IRS. It is common to apply for a tax extension if you need additional time to file your tax returns. IRS will grant extra time to file your personal income tax returns when you apply through the proper form within the deadline. However, IRS doesn’t give you extension time to pay your taxes. You must pay your taxes fully with your original income tax form and apply for personal income tax extension form 4868 to get the extension time to submit your tax reports with proof.
Category Archives: IRS
Today is the last date to apply for Business Income Tax Extension Form 7004!
Hello business taxpayers! Today is the last date to report your business income tax extension form 7004. Many businesses file for business income tax extension form 7004 to get the automatic six months extension time from the IRS because they can’t report the tax returns with all supporting documents and proofs.
Among the many businesses, the last day to apply for business income extension tax form 7004 is today for the companies like LLCs, S-Corporations, Partnership firms to get the automatic six-month tax extension till September 15, 2023.
It’s time to apply for tax extensions to get extra time to report your business and personal taxes!
Hello taxpayers! As the new tax year starts, you must report and pay your business and personal income taxes to the IRS on or before the deadlines. If you fail to report your taxes on time, IRS will charge hefty penalties, late charges, and interests over your tax dues. To avoid this unfortunate circumstance, they offer automatic extension time from three to six months based on your tax category. Therefore, you must apply for a tax extension to the IRS to avail the extra time to report your taxes to the IRS.
There are multiple tax extension forms for business and personal income taxes. Taxpayers must identify suitable income tax extension forms and apply them to the IRS within the deadlines. Let us look into extension tax forms, their purposes, and deadlines for your clear understanding.
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Things organizations should know about applying for tax-exempt status
To be tax-exempt under Section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for any of these purposes: charitable, religious, educational, scientific, literary, testing for public safety, fostering national or international amateur sports competition, or preventing cruelty to children or animals.
Organizations that want to apply for recognition of tax-exempt status under Section 501(c)(3) use a Form 1023-series application.
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Business Tax Extension Form 8868 is due today for Tax-Exempt Organizations
Hello Taxpayer! Today is the deadline to apply for a business tax extension for your tax-exempt organizations. Non-profit and tax-exempt organizations are not liable for any taxes because they are excluded from any taxes by the federal government. But they have to file their business income tax reports to the IRS within the deadline. If they cannot report the taxes for the previous year within the deadline, they should apply for a tax extension to the IRS and get the automatic tax extension time to report their business income taxes.
