Apply For Extension Of Time To File Business Income Tax Through Form 7004

Every corporate business, partnerships, and certain trusts are mandate to file and pay tax through the applicable form. However, due to the time constraint and the workload, IRS has considered this and provided taxpayers with extra time to file your tax return if they file an extension.

What Is Form 7004?

This is an application for Automatic Extension of Time to File Business Income Tax, Information, and other returns, allowing you to gain extra time to report IRS with the required documents if you don’t have them handy. The due date to file form 7004 falls on 15th of March and it is liable to file the extension by the due date if you wish to gain extra time to report IRS with your business income tax.

However, this year 2015, March 15th is falling on a weekend, and thus, 16th of march would be the due date to file and report form 7004. Do note, extension would be granted only if proper estimation is made and file by the actual return date for, which this extension applies.

The form is divided into 3 different parts. Part I is for filers who are filing for 5 months extension and part II is for 6 months extension filers. However, part-III is mandatory for filers to file and submit, which contains details about your organization, amount due and balance to be paid to IRS. This form should be mailed to IRS on or before the due date. If you’re efiling withExtensionTax.com, the whole procedure is simplified and converted into one application. Key in your information, the application would take care of the rest.

Depending upon the form, you can gain 5 months and 6 months of extension. You are mandate to file your tax return by the end of the extended time i.e. 15th of October. Continue reading →

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 →

Consequences Faced If You Delay Filing Form 4868

So filers, how are you keeping today? With a new day and a long week ahead, we are starting with a blog post for ExtensionTax.com. Today’s topic is form 4868 and the consequences faced for filing a late extension.

As you know, the due date for filing an extension for form 4868 is April 15th of the calendar year, and you get 6 months of extension time to file your return. Your return would not be counted late as long as you submit your income tax papers by October 15th. However, do note, you are liable to pay your dues by the due date. The extension of time is only to get your papers in place, not for the dues you owe. Continue reading →

Extension Of Time For Income Tax For U.S. Citizens And Resident Aliens- Form 2350

So filers, how are you doing? Today, at our blog, we are going to talk about form 2350, the Application for Extension of Time to File U.S. Income Tax Return for U.S. Citizens and Resident Aliens Abroad Who Expect To Qualify for Special Tax Treatment. If you are residing outside U.S, you have to pay your foreign earned income to the nation. Usually, the due date to file income tax is April 15th of every calendar year. Continue reading →

Form 8868- Application For Extension Of Time To File An Exempt Organization Return

Paying taxes is one of the core responsibilities we hold towards our nation. Few of the tax form come along with an extension form, which provides you with extension of time to file your return. This extension form comes in for your rescue when you are no ready with your paper work. 

When it comes to government and exempt organizations, we had always assumed they are free from paying taxes as they belong to the Government and they really have nothing to do with taxes. However, that’s not the truth. Though exempt organizations are non-profitable, they have to file taxes through the following form. Continue reading →