Countless tax payers turn up only on closing date, getting their skates on to meet April 15th 2013. Filing tax is in real a boring and mind-numbing process for which planning, organizing with enough time and material are important. If you are filing taxes inaccurate or with flaws, then you are really planning to miss out your tax credits and deductions, for which you are eligible. Still, there are several options to stay on safer side of filing taxes.
- File an extension: The first and foremost way to be safe is to file an extension through Form 4868. People still believe that tax extension is a red flag for the auditors and IRS. On no account, it lifts the possibility of an audit. In fact, the chances of getting audited become lower if you are filing your tax returns after October. This is because IRS chooses some returns that were filed on time for audit. So when you file it in the late October IRS would have covered the ratio of auditing tax returns. Since it is off-season for income tax preparations after April, most of the accountants charge fewer fee. If you are fee-sensitive, then extending your filing time may save you some pennies.
- Choose E-filing: More than 60% of people file their taxes online, since online filing is found to be more accurate and recommended by IRS. If you are waiting for any tax refunds, e-filing makes the process faster. You can expect your refunds within 2-3 weeks.
- Other options: If you cannot pay taxes on time, at least file them or file an extension with half of the tax amount you owe. This may save you from bills and penalties.
So file an extension today or before the extension due date April 15th 2013, to avoid facing the last-minute worries. Extensiontax.com, your extension e-filing mate constantly helps you just like ever. Call us at 1-866-245-3918. Extensiontax.com, a trusted e-file partner, always shows you the right way!