Tag Archives: Efile Extension

Things You Should Be Aware Of, When You Want to File For a Tax Extension

No matter what your motive is behind filing an extension to file your taxes, as long as you fill-out the form (Form 4868 for individuals, Tax Form 7004 for businesses) correctly, you are automatically granted with an extension time of 6 months for your request. Remember that the IRS doesn’t care (and doesn’t ask) why you’re filing for a tax extension. But before getting into the actual filing of extension tax in order to acquire more time to file your taxes, here are some important points to take note of.

1. Do Not File Extension, If You Can’t Pay.

In case you have completed your return but unable to pay in full to the IRS, you should file your return first hand and then later apply for an Online Payment Agreement (OPA) based on the bill or notice sent by the IRS for the balance due.

2. Supplementary Span in Hand

The comfort of extension is applicable only for filing and so, you cannot extend time to pay your taxes. You will owe interest on any amount not paid by the deadline, plus you may owe penalties.

3. Extension Forms

You can submit your request for extension via Form 4868 (Application for Automatic Extension of Time to File U.S. Individual Income Tax Return), Form 7004 (Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns) or Form 8868 (Application for Extension of Time to File an Exempt Organization Return).

4. Extension via E-file

If you would like to relax your tax related filing tension during extension, you have a great chance with e-filing the same. Extension Tax does it for you and checks your form for mistakes to ensure smooth submissions. Notifications for you will also be on time once the IRS approves your extension, which again is matter of minutes with internet filing. Note that it is always good to be aware of internet scams and taking care of your personal information.

5. Electronic Funds Withdrawal

If you ask for an online extension, you can also choose to pay any expected balance due by authorizing an electronic funds withdrawal from a checking or savings account. You will need the appropriate bank routing and account numbers.

6. Form Availability

The IRS website has downloadable forms for filing extensions. Well, you can even order for one at 800-TAX-FORM (800-829-3676). But downloading forms from the website, taking print out of it, understanding the nuances of tax in it, filling the details all by yourself, going in person to file it or sending it to the IRS via courier, dealing with errors and rejections due to silly or major mistakes, filing it again with uncertainty is all just like reading this very line that you have just read. Too lengthy and complex. Also, Telephone requests normally take 7 – 15 days to process and ship. It is immediately available full time and also for easy filing on extensiontax.com.

So, it is always a wiser idea to opt for e-filing your extension tax forms in comparison to paper filing any form that too through extensiontax.com. It’s because filing an extension on extensiontax.com doesn’t make you wait one extra moment in just the minutes of time it consumes to prepare and process your extension request.

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.

Can’t File By April 17? Use ExtensionTax.com to E-File to Get a Six-Month Extension

The Internal Revenue Service today reminded taxpayers that quick and easy solutions are available if they can’t file their returns or pay their taxes on time, and they can even request relief online.

The IRS says don’t panic. Tax-filing extensions are available to taxpayers who need more time to finish their returns. Remember, this is an extension of time to file; not an extension of time to pay. However, taxpayers who are having trouble paying what they owe usually qualify for payment plans and other relief.

Either way, taxpayers will avoid stiff penalties if they file either a regular income tax return or a request for a tax-filing extension by this year’s April 17 deadline. Taxpayers should file, even if they can’t pay the full amount due.

Here are further details on the options available.

More Time To File

People who haven’t finished filling out their return can get an automatic six-month extension. The fastest and easiest way to get the extra time is through E-filing. In a matter of minutes, anyone can use this service to electronically request an automatic tax-filing extension on Form 4868.

Filing this form gives taxpayers until Oct. 15 to file a return. To get the extension, taxpayers must estimate their tax liability on this form and should also pay any amount due.

By properly filing this form, a taxpayer will avoid the late-filing penalty, normally five percent per month based on the unpaid balance, that applies to returns filed after the deadline. In addition, any payment made with an extension request will reduce or eliminate interest and late-payment penalties that apply to payments made after April 17. The current interest rate three percent per year, compounded daily, and the late-payment penalty is normally 0.5 percent per month.
IRS reports, Of the 10.5 million extension forms received by the IRS last year, about 4 million were filed electronically.

Some taxpayers get more time to file without having to ask for it. These include:

• Taxpayers abroad. U.S. citizens and resident aliens who live and work abroad, as well as members of the military on duty outside the U.S., have until June 15 to file. Tax payments are still due April 17.

• Members of the military and others serving in Iraq, Afghanistan or other combat zone localities. Typically, taxpayers can wait until at least 180 days after they leave the combat zone to file returns and pay any taxes due.

• People affected by certain tornadoes, severe storms, floods and other recent natural disasters. Currently, parts of Indiana, Kentucky, Tennessee and West Virginia are covered by federal disaster declarations, and affected individuals and businesses in these areas have until May 31 to file and pay.

Easy Ways to E-Pay

Taxpayers with a balance due IRS now have several quick and easy ways to electronically pay what they owe. They include:

• Electronic Federal Tax Payment System (EFTPS). This free service gives taxpayers a safe and convenient way to pay individual and business taxes by phone or online.

• Electronic funds withdrawal. E-file and e-pay in a single step.

• Taxpayers who choose to pay by check or money order should make the payment out to the “United States Treasury.” Write “2011 Form 1040,” name, address, daytime phone number and Social Security number on the front of the check or money order. To help insure that the payment is credited promptly, also enclose a Form 1040-V payment voucher.

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

Tax Deadline Extended To April 17 2012.

The deadline to file personal tax returns with the IRS for the 2012 Tax Season has been extended to Tuesday, April 17, 2012. The traditional deadline of April 15 falls on a Sunday this year. Since April 15th falls on a weekend, the official deadline had to be changed. It could not be the following Monday (April 16) either due to the fact that April 16th is Emancipation Day. Emancipation Day is considered to be a holiday for the District of Columbia, and Federal Law declares that agencies such as the IRS must observe such holidays of the District of Columbia.

This will be the second year in a row in which the deadline for most tax returns will not be on the traditional deadline of April 15. Tax returns were also later last year due to the Emancipation Day holiday.The same deadline applies to anyone filing a Personal Tax Extension as well as a normal tax return. If a Tax Extension is applied for, this does notpostpone the tax payment. It only extends the time in which to file the tax return itself with the IRS.

Any taxes due must still be paid by April 17 deadline, but with a tax extension, the completed return does not need to be filed until October 15. This 6 month extensionallows tax preparers and others to get the most out of any credits and refunds.One of the easiest ways to apply for a tax extension is through www.Extensiontax.com The Fast and Easy-To-use System makes tax extensions simple and easy. The entire process takes only a few minutes to complete.

One of the greatest things about filing with Extensiontax.com is our dedication towards quality customer support. If you have any questions about the filing process or would like a little help along the way, you can call, email or chat online with our Tax Expertsanytime. You can email the us at support@extensiontax.com or chat with us online from the website:Extensiontax.com Overall, it is hard to go wrong with an easy-to-use system, a helpful team along the way, and affordable pricing options.

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