Category Archives: Online Extension

Electronically File Your Individual Income Tax Extension

The very reason IRS designed an efiling program for filers to save time and money. In 2009, nearly 100 million taxpayers filed using the e-file system. Efiling is one and only method that offers faster receipts of refunds and returns, and saves taxpayers from errors that could arise through postal, logistical or human factors.

What Is E-file?

The IRS initiated an electronic tax filing initiative in 1986, and that has blossomed into the current federal e-file program. You can e-file as an alternative to filing your taxes on paper through the postal system. The e-file system instead relies on the Internet and electronic forms. In 2009, nearly 99 million american taxpayers e-filed their tax return, while one-third of the crowd e-filed through their personal computers.

How to E-file:

You can either e-file through a certified paid tax preparer, or you can e-file on your own from your home computer through a certified efiling service provider like ExtensionTax.com. At our end, we have an application designed in the format of the form you need to file, with the questions to be answered. While you are efiling, you would be assisted with error check app, which would thoroughly check the content mentioned. Any errors found, you would notified. Continue reading

Unfold The Secrets Of E-Filing With ExtensionTax.com

Paying and filing taxes is a part of our lives. With that, every form that comes under the list of income tax have a specified due date and a penalty tagged along if at all the payment and filing is not done by the due date.

Individual income tax is paid on and off round the clock, however, if you’re residing outside U.S, you still owe the States a part of your income. Also, let me add, the due date for paying your U.S. Income Tax Return for U.S. Citizens and Resident Aliens Abroad falls on April 15th of every calendar year. Continue reading

Time is Running Out! File Today for Exempt Organization Tax Extension

IRS Form 8868: A Brief Understanding

IRS form 8868 has been designed for exempt organizations wanting for 3 months extension for filing their tax return. Moreover, these organizations can apply for an additional (non-automatic) 3 months extension if those three months are not enough for them. However, it is not possible for organizations to file for both automatic and non-automatic extension concurrently The due date to file for an extension through form 8868 falls on May 15th, 2013.

The exempt organizations that qualify to file for form 8868 are charitable organizations, churches and religious foundations, political organizations, private foundations, contributors, etc. Exempt organizations who wish for an extension can both e-file and paper file form 8868 but, it is advisable to choose the former over the later so that the filing process can happen quickly and efficiently. Moreover, filing online saves time, reduces the chances of making errors, and much more. The following forms should be used accordingly when filling for an automatic extension through form 8868.

  • Form 990: This tax return form is for some federally nontaxable organizations . To add to your knowledge, non-profit organizations that have not received the status of tax exempt, faith-based organizations, religious schools, subsidiary organizations, etc. need not have to file for an extension through form 990.
  • Form 990 BL: This extension tax return form is for the ‘information and initial excise tax return for black lung benefit trusts and certain related persons’. Tax filers should keep in mind to file form 990 BL by the 15th day of the fifth month keeping in mind the filer’s tax year.
  • Form 990 EZ: This form is an information return filed annually by organizations exempted from income tax along with political organizations and charitable trusts. Tax filers should remember to file by the fifteenth day of the fifth month to get an extension.
  • Form 990 PF: Charitable trusts and non-exempt organizations such as private foundations need to file for an extension using form 990 PF in IRS form 8868.
  • Form 990-T: Businesses involved in charitable trusts come under the exempted organizations list. To get an automatic 3 months extension businesses should file for form 990-T in form 8868. The extension  tax return should be filed by the fifteenth day of the fifth month and before the tax year ends.
  • Form 4720: This is ‘return of certain excise taxes under chapters 41 and 42 of the Internal Revenue Code’. Usually business organizations including certain foreign organizations should file for extension through form 4720 in IRS form 8868. Businesses and individuals should file before the 15th day of the fifth month.
  •  Form 6069: This form is like a worksheet, which is filed by individuals and organizations to report the excess contribution to black lung benefit trust. Tax filers should file before May 15th to get an extension.

The aforementioned pointers provide a brief overview of form 8868 and the several forms that fall under this tax extension form. Visit ExtensionTax.com to get an automatic extension up to 3 months for filing exempt organization tax return.

Tax filing Time Extended for all Boston Residents and the Affected Individuals – The IRS

The Boston Marathon explosions have left a strong impact on the lives of people that were a part of it. Usually conducted on the third Monday of April i.e., on the Patriots’ Day it is one of the world’s best racing events well participated and viewed by people from various parts of the country. This year the racing event ended with much distress and agony after the two explosions that occurred near the finishing line. However, as a sigh of relief, the Internal Revenue Service has extended the tax filing time to 3 months for taxpayers residing in the Boston area and those affected by the explosion.

The announcement made by the IRS about the automatic extension of the tax filing date by three months can bring in some relief to the taxpayers who have been affected by the twin explosions in Boston Marathon. This tax extension of three months applies to taxpayers residing in Boston, as well as in and around the city such as Suffolk county and Mass. Moreover, the increase in the tax deadline even applies to the sufferers, their family members, casualty providers, and everyone who have been a part of the disaster. Taxpayers can visit IRS.gov for additional information about the automatic extension of the tax filing date.

It is surely heart touching to see the aftermath caused during the Boston Marathon on April 15th, 2013. The now IRS acting commissioner, Steven T. Miller has also expressed his grief towards the affected individuals, therefore, have decided to give them an additional three months time for filing their tax returns. Therefore, taxpayers concerned about paying taxes can stay relieved by the announcement made by the IRS. In simple words, taxpayers are not subjected to any dues or penalties if they file their tax returns before July 15th, 2013.

Individuals residing in Suffolk County are not required to take any action, as this rule automatically applies for them. However, individuals residing outside the Suffolk County should call the IRS @ 1-866-562-5227 before April 23rd to know if they are eligible for the relief declared. Additionally, taxpayers who have received a penalty notice can call the IRS to enquire about the same. Moreover, they always have the option to e-file for tax extension by July 15th, 2013 and get an extension up to 6 months. We at ExtensionTax.com have developed a user-friendly e-filing system that can help taxpayers file tax form 4868 from the comfort and convenience of their house. Reach us @ 1-866-245-3918 for any queries or suggestions.

Missing Your W-2? Here’s What to Do

It’s a good idea to have all your tax documents together before preparing your 2012 tax return. You will need your W-2, Wage and Tax Statement, which employers should send by the end of January. Give it two weeks to arrive by mail.

If you have not received your W-2, follow these three steps:

1. Contact your employer first.  Ask your employer – or former employer – to send you your W-2 if it has not already been sent. Make sure your employer has your correct address.

2. Contact the IRS. After February 14, you may call the IRS at 800-829-1040 if you have not yet received your W-2. Be prepared to provide your name, address, Social Security number and phone number. You should also have the following information when you call:

• Your employer’s name, address and phone number;

• Your employment dates; and

• An estimate of your wages and federal income tax withheld in 2012, based upon your final pay stub or leave-and-earnings statement, if available.

3. File your return on time. You should still file your tax return on or before April 15, 2013, even if you have not yet received your W-2. File Form 4852, Substitute for Form W-2, Wage and Tax Statement, in place of the W-2. Use the form to estimate your income and withholding taxes as accurately as possible. The IRS may delay processing your return while it verifies your information.

If you need more time to file, you can get a six-month extension of time. File Form 4868, Application for Automatic Extension of Time to File US Individual Income Tax Return.  If you are requesting an extension, you must file this form on or before April 15, 2013.

The Best way to file for an extension is E-filing through www.extensiontax.com, where your returns get accepted by the IRS within minutes. Extensiontax.com is now ready to accept and process Form 4868 for 2012. Do not wait till April to file for an extension, E-file it right away and stay relaxed till October 15. Call 1-866-245-3918 for all your tax extension related questions or write to support@extensiontax.com.