Tag Archives: Extension Tax

Must Know Information about Tax Extensions

The number of extensions filed by individuals & Businesses to the IRS has always been increasing ever since it came into existence. Only easiest way for these millions of taxpayers to file for an extension is to E-file it through Extensiontax.com.  As an Authorized E-File Provider, Extensiontax.com can securely send your tax information to the IRS instantly. Here are some commonly asked questions about Tax Extensions: Continue reading

Need More Time to File Your Tax Return! Use Form 4868

IRS form 4868 is officially termed as the “Application for Automatic Extension of Time to file U.S Income Tax Return”.  This is a tax extension form especially designed for individuals filing for income tax to the IRS. Moreover, an individual has the benefit of getting a tax extension for the below tax forms:

  • Form 1040
  • Form 1040A
  • Form 1040EZ
  • Form 1040NR
  • Form 1040NR-EZ

Explaining Form 4868:

As mentioned above, form 4868 can be used by individuals who wish to extend the time for filing their tax returns. It is important to mention the complete details when filing for an extension such as name of the taxpayer, the place of residence, social security number, payments made, due amount, etc to get an extension up to six months. However, it is good to know that it does not extend the taxpayer needs for paying the complete tax liability but only extends the time required for preparing the paperwork for filing the tax return. Taxpayers should keep in mind that the deadline to file for form 4868 is April 15th.

The Process:

Taxpayers are advised to prepare a rough draft of their tax return before filing, thus getting an idea if they have to pay or need a refund. To help them save time and efforts there are certified CPA’s to help them. Moreover, there are websites like ExtensionTax.com providing assistance to tax payers for calculating the tax returns and save time.

After preparing the rough draft, tax payers have two options. They can either file their tax return online or download the form and mail it to the respective address. Filing for tax extension online is recommended, as this help tax payers file from the comfort and convenience of their house and save the environment too.

For those filing their tax extension online should make sure to verify the details provided and rectify the errors. It is good to cross-check the social security number and other details before e-filing the form 4868.

As a reminder, form 4868 is only a way to stretch the due date by six months for filing the tax return. Make sure you pay the amount, as well as file for an extension before April 15th. Call us @ 1-866-245-3918 for complete assistance and get your queries answered.

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.

Delight in extension without filing any form!!

It is well-known that filing Form 4868 lets you to have spare time for filing your extension tax returns. But many of us are unaware of automatic 2-month extension of time to file and pay our income tax returns.

You are eligible to have an automatic extension of time if,

  • You are an U.S citizen or resident, but from outland.
  • At present, you are living outside of U.S or Puerto Rico and your place of business or duty is outside of U.S and Puerto Rico(even if you are physically present in the United States or Puerto Rico on the regular due date of the return)
  • You are in military or naval service on duty, outside the United States and Puerto Rico (or)
  • If you are serving in a combat zone or any dangerous duty area, you can know your extension deadlines at  IRS Armed Forces Tax Guide

If your situation applies to any of the guidelines above, then you are fit to benefit the choice of automatic 2-month extension of time to file your return and pay any federal income tax that is due. For example, if the regular due date for your return falls on April 15, your automatic extended due date would end by June 15.

How to use this extension?

To use this automatic 2-month extension, you have to enclose a statement on your returning, briefing about your situation (One of the above) that hinders you from filing your tax return.

Want more time to file your return even after automatic 2-months extension?

If you couldn’t file your tax returns within the automatic 2-months period, you will get additional 4 months to file your return (totally 6 months like default). You can wait without requesting for additional 4 months, till IRS issues the new due date, which is allowed by automatic 2-month extension. To benefit the additional 4 month extension file Form 4868 as usual. A noteworthy info here is, you will not get additional time to pay (unlike automatic extension), other than time to file.

Tips by Extensiontax.com, your matchless E-file mate is always present to alert you and make you aware of unknown facts. File your taxes with satisfaction, we deserve it. For support or queries, get in touch with us at 1-866-245-3918 or email us to support@extensiontax.com.

Certain ‘if’s to File an Extension for Tax

Federal tax returns are due by April 15 every year. But, there is a provision with the IRS to request extension of time to do the same. Form 4868 has to be returned to the IRS which gets you an automatic 6-month extension for you to file your income taxes. Obtaining an extension to file doesn’t mean an extension to pay your taxes. You have/ought/should/must do the same by the given due date. We hope all of us including you, know this. In case you are going to file for the very first time, we hope the information is clear.

Have you ever wondered if there are any ‘if’s to claim an extension of time for filing taxes? Yes or no, here we present to you certain ‘if’ items to remind or instill in your mind respectively.

Inadequate Tax Information

Granting time to transform, data imperfection to tax perfection.”

For just an asking, you get an addition of time. That’s what IRS says through form 4868 for filing federal income taxes. Additional time means more time to return accurate documentation to the government. Talking about a practical example, if you’ve lost the W-2 your employer sent you, it is better off to wait for the duplicate one to reach you in the meantime and then file the taxes. So, if that’s the case, it is where you take an extension of time.

Surprising Life Events

Surprise that can stop tax surprises”

IRS understands the ability of life events to interfere with your ability to file taxes. Under any circumstance that may leave you unable to file taxes on time like birth, death, illness or anything like that, it is to be considered an important ‘if’ condition to apply for an extension. While the IRS does not need an explanation for extension, you have all the reasons to pay it on time and take an extension request.

The Time that Can Save you Some Tax

Spending some time to extend can save money to some extent”

If you think that an extension of time that can in turn get you some substantial tax savings, well you can apply for an extension. For example, an IRS conversion may take some time in the meantime, filing an extension can eliminate your obligation to pay the tax.

An Important ‘If’

If it’s an e-file extension, it is extensiontax.com

It’s an undoubted statement that e-file is the best option to file any tax form. Extension tax form 4868 is not an exemption. What makes the difference is, knowing the users and making the usability of the tax software as simple as expected. And if it is that, it is extensiontax.com