Some tax rules affect every person who may have to file a federal income tax return – these rules include dependents and exemptions. Here are six important facts the IRS wants you to know about dependents and exemptions that will help you file your 2010 tax return.
WASHINGTON — The Internal Revenue Service today detailed how, starting Jan. 1, 2011, paid tax return preparers can comply with a new law that requires paid tax return preparers who meet the definition of “specified tax return preparer” under the new law to electronically file (e-file) federal income tax returns that they prepare and file for individuals, trusts and estates.
The e-file requirement will be phased in over two years.
Starting Jan. 1, 2011, paid preparers who prepare income tax returns for individuals, trusts and estates, such as Forms 1040, 1040A, 1040EZ, and Forms 1041, and who reasonably expect to file 100 or more of these income tax returns in 2011 are specified tax return preparers required to file these returns electronically.
Need more time to file your tax return?
If you can’t complete your federal tax return by the deadline, you can buy yourself more time. Just file an extension to push the deadline back six months and avoid IRS late filing penalties.
There’s a catch, though. The extension only pushes back the due date for the paperwork. If you owe money, you need to estimate the amount, then file your extension and make your payment by Time.
How to file an extension?
Efile your tax extension online in minutes with ExtensionTax.com and make it so simple. With ExtensionTax.com, you can:
