Category Archives: Form 8868

post related to 8868

Preserve Your Documents! It’s Useful in Times of Need

You never know or even think when a natural disaster would knock at your door. Nothing lies in our hands and the wrath of nature cannot be escaped. Natural disasters happen unexpectedly also affecting the lives of many Americans every year. With the cyclone hitting Oklahoma and nearby counties recently has left a massive impact on the minds and hearts of people. Although, the loss is unimaginable but not keeping the record safe can incur more losses. Therefore, it is advisable to keep the credentials handy and at a proper place.

There are several documents that taxpayers should keep a backup such as bank statements, certificates, tax returns, etc. The reason for maintaining their documents is that it gives them the benefit of accessing them whenever required. Additionally, we should keep them safe from the dangerous after-effects of the wind, rain, and snow. Recordkeeping is a good habit and comes as a great rescue in times of need. There are numerous ways suggested by the IRS to keep the documents safe and protected, as discussed below:

  • Save Your Documents Online:

One of the best places to keep your documents in a place where it is easy to access is to save them electronically. Most companies and banks send payment receipts electronically, which makes it easy and possible to save them online. However, individuals also have the option to scan their documents and save them in their email id. Saving files electronically is one of the simple and easy ways to create a backup of all the important documents.

  • Document the Essential Valuables:

Another useful for creating a backup of their documents is by taking photographs or creating video. Recording the credentials through photographs or making video can help individuals know the true value of the documents, thus making it easy for them to claim refund. The ‘IRS disaster loss workbook’ is another way where taxpayers can assemble the required documents. Click here for more details

  • Take Help from the IRS:

When a disaster strikes taxpayers need can call the IRS to get complete information on disaster-related issues. Moreover, requesting the IRS might help them get copies of their previous tax returns, which can be attained through form 4506.

Individuals residing in the affected areas generally get an extension by the IRS but, they can also get a tax extension by filing through extensiontax.com, a leading E-file service provider. Reach us at 1-866-245-3918 to get all your queries answered.

 

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.

Why to file your tax extension with ExtensionTax.Com

Extensiontax.com still stays as famous and renowned E-file partner for extension taxes in the U.S. We always understand your requirements and work accordingly to provide you with excellent services. Probably that’s the reason behind our success which made us even more trustworthy. Extension tax is a simple company that understands every bit of its user’s feeling in order to make it perfectly-perfect. There are many reasons why even after more E-file providers coming up on the belt, still our users remain using Extension tax.com.

Before all that, we are thankful to our groupies from the inner recess of our feelings.

  • The foremost reason is that we always stand unique, formulating our own standards for us to work on. We never compete with other peers.
  • We are authorized and certified legally. We are licensed unit of IRS since 2007.
  • We satisfy our customers to hundred percent by fulfilling their needs at instance and make them feel contented heartily.
  • We hold industry leaders and tax professionals with us who own rich experience and enhance our standardized value ever.
  • Our application is so easy to use and that what we hear from our users. And, we are happily working to make it the easiest.
  • All of above, we are upheld for our consistency.
  • We support our users through 24/7 to maintain our steadfastness.
  • Our recent self-assessment showed us that we hold 99% of customer retention.
  • Last thing, what we charge is economical and affordable by our users.

Along with this our text alert too helps in last minute extension, which otherwise ends up paying penalty.

As business details are readily available with us, it is easier on its stream. We do incorporate the timely updates of IRS and make our application ready with latest schema and Business rules when changes peep out. Another remarkable point is that we are one among the very few in the market who support the 11 schedules of Form 8868.

Think Trade. Inc is a label synonymous with perfection driven offerings. Even when a new user signs up once, he prefers the same again and again. Our customer growth is only lining up day by day, never fades even. To enjoy such comfortable services you should surely opt to Extension tax.com.

Form 8868 Tax Extension For Non-Profit Organization

May 15th is right around the corner and it means that Charities and Non-Profit (Exempt) organizations are now busy preparing their tax returns. Unlike businesses and individuals, the tax deadline for these types of organizations is May 15th (if their tax year is a calendar year).

If an exempt organization does not have enough time to prepare their tax return, the IRS will allow an additional 3 months to file the return if a Form 8868 is filed by the deadline. An IRS Form 8868 is an application for 3 Month extension of time to file a tax return for a Non-Profit Organization. This form can be filed electronically throughExtensiontax.com an IRS Approved E-File Provider.

This is the fastest and safest way to file for a tax extension. E-Filing form 8868 takes only few minutes and within minutes from filing, the IRS will accept the form.  Once the form is accepted, the filer will receive an email from Extensiontax.com.When paper filing this form there is no letter of acceptance, but it is nearly instant when e-Filing.

NOTE : A tax extension does not extend the amount of time to pay the tax.  It extends the amount of time to file the official tax return. Any taxes due will still be due on thetraditional deadline or else there will be additional penalties and interest.

E-Filing form 8868 through Extensiontax.com is the easiest way of filing it. The application is very simple. Instead of filling out a complicated tax form, there are just a series of easy to answer questions. Extensiontax.com has simplified all the confusing tax jargon’s and created an incredibly simple application to E-File form 8868 with the IRS.

www.ExtensionTax.com is committed to provide the Best in Quality and Service for all our users,  www.ExtensionTax.com / www.TaxExcise.com is a certified, IRS authorized, e-file service provider for Form 2290, Form8849, Form720 & Extensions for  Form4868,  Form8868 and Form7004.

www.ExtensionTax.com / www.TaxExcise.com are products of Think Trade Inc. We are a BBB accredited company with A+ certification.For any questions you may have regarding Excise Tax Filings please reach us at 1-866-245-3918 or simply write to us at support@extensiontax.com / support@taxexcise.com.

IRS Terms That You Need To Know When You File For An Extension!

Filing a Tax Extension is very simple when you use Extensiontax.com.  All that is required to file it is basic information about your business.  There are few terms that one needs to know before submitting a Tax Extension for a Business, Individual, or Nonprofit Organization.

IRS Form 7004: This form is used by businesses such as Multi-Member LLCs, C Corporations, S Corporations, Partnerships, Trusts, and Estates.  This is commonly referred to as a form forBusiness Tax Extensions.  This IRS Form gives aTax Extension of 5 – 6 months.

IRS Form 4868: This form is used for filing Individual or Personal Tax Extensions.  This IRS form gives a Tax Extension of 6 months for personal returns, 1099 Contractors, Sole Proprietorship’s, and Single-Member LLCs.

IRS Form 8868: This form is used by Non-Profit and Exempt Organizations.This IRS form is used to apply for an automatic 3 month tax extension or a non-automatic (additional) 3 month extension.

Tax Extensions: Filing for a Extension with the IRS extends the amount of time to file a Tax Return.  It does not extend the amount of time to pay taxes.  The IRS wants the taxes to be paid by the traditional filing deadlines.

Filing Status: If you are filing for an individual tax extension, it is required to list your filing status (married filing jointly, single, married filing separately, etc.).The same way if you are filing an Extension for a business or nonprofit organization, it is required to list your business or organization’s type and the specific tax form that will be filed.

Business Tax Year: It is common to use the calendar year as the business tax year but that is not the case for every Business.If a business follows a different tax period, that needs to be specified.  Also if a business was started or ended during the year, its tax period may be shorter than a full year and that needs to be specified too.

Estimated Tax Amount: A Tax Extension extends only the amount of time to file a tax return.  It does not extend the amount of time to pay taxes.  Therefore, you need to pay the full Tax amount that is due to the IRS by the traditional deadline.

www.ExtensionTax.com is committed to provide the Best in Quality and Service for all our users,  www.ExtensionTax.com /www.TaxExcise.com is a certified, IRS authorized, e-file service provider for Form 2290, Form8849, Form720 & Extensions for  Form4868,  Form8868 and Form7004.

www.ExtensionTax.com /www.TaxExcise.com are products of Think Trade Inc. We are a BBB accredited company with A+ certification.For any questions you may have regarding Excise Tax Filings please reach us at 1-866-245-3918 or simply write to us at  support@extensiontax.com / support@taxexcise.com