Tag Archives: Extension Tax

Do I have to File a Tax Return?

You must file a federal income tax return if your income is above a certain level; which varies depending on your filing status, age and the type of income you receive.

Check the Individuals section of the IRS website at http://www.irs.gov or consult the instructions for Form 1040, 1040A, or 1040EZ for specific details that may help you determine if you need to file a tax return with the IRS this year. You can also use the Interactive Tax Assistant available on the IRS website to determine if you need to file a tax return. The ITA tool is a tax law resource that takes you through a series of questions and provides you with responses to tax law questions. Continue reading →

Starting in 2011, Many Paid Preparers Must e-File Federal Income Tax Returns for Individuals, Estates and Trusts

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.

Continue reading →

Filing an Tax Extension with IRS at www.ExtensionTax.com

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:

Efile your federal extension
Make a payment of tax due, right from your checking or savings account
Print a PDF copy of the extension you efiled
Log into your account to see when your extension has been accepted by the IRS
Text Alert on status of your extension from IRS.

Continue reading →

Nearly 70 Percent of Taxpayers Used e-file in 2010

Nearly 99 million individuals filed their federal income tax returns electronically during 2010, a 3 percent increase in the IRS e-file rate. Of the 141.5 million returns filed so far this year, almost 70 percent were filed electronically.

Each year, more taxpayers chose to e-file their tax returns. Last year, nearly 95 million taxpayers or 67 percent used e-file. In the past decade, the number of individual tax returns e-filed has increased by 145 percent. The overall number of individual tax returns increased only by 8 percent. IRS e-file is no longer is the exception; now it is the norm.

Continue reading →

Can I get an Extension for Tax filing from the IRS?

Yes, you can get an extension of time from the IRS to file your tax return.

You can get an automatic six-month tax extension for filing Form 1040, Form 1040A or Form 1040EZ by filing Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return on or before April 15th. By filing the extension tax form, you avoid the late filing tax penalty. However, Form 4868 does not extend the time to pay your tax. You must pay the amount of the tax estimated to be due for the tax year. Interest will be charged on unpaid tax from the original due date of the tax return.

You should send your extension tax form to the IRS Service Center where you file your tax return. You can also request to pay any IRS tax due in Installment Payments.

Continue reading →