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Tax Filing Season and claim additional time if your not ready to report your income tax return

The IRS is now accepting personal income tax returns as the annual tax filing season is underway. The IRS expects taxpayers to file more than 155 million returns this year. Here are some things for taxpayers to consider as they are filing:

  • People have until Tuesday, April 17, 2018, to file their 2017 returns and pay any taxes due.
  • Choosing e-file and direct deposit is the fastest and safest way to file an accurate income tax return and receive a refund.
  • Families with incomes of $66,000 or less can file for free. They can do so using brand name software through the IRS Free File program. People who earned more than $66,000 may use Free File Fillable Forms.
  • By law, the IRS cannot issue some refunds before mid-February. These refunds are for tax returns that claim the Earned Income Tax Credit or the Additional Child Tax Credit. The IRS expects the earliest refunds related to EITC and ACTC to be available in taxpayer bank accounts or on debit cards starting on Feb. 27, 2018.
  • The best way for taxpayers to check the status of a refund is to use “Where’s My Refund?” ‎on IRS.gov or the IRS2Go mobile app.
  • Taxpayers with low and moderate incomes can get help filing their taxes for free. The Volunteer Income Tax Assistance and Tax Counseling for the Elderly programs have more than 12,000 sites around the country. To find the nearest site, use the VITA/TCE Site Locator on IRS.gov or the IRS2Go mobile app.
  • Taxpayers should have their year-end statements in hand before filing. This includes Forms W-2 from employers and Forms 1099 from banks and other payers. Doing this helps avoid refund delays and the need to file an amended return.
  • IRS.gov is the place to go online for tools that help people as they prepare and file their tax return. This includes:
    1. Let Us Help You page helps answer most tax questions.
    2. IRS Services Guide has information about where taxpayers can go for help.
    3. IRS.gov/account allows people to access information about their federal tax account.
  • Many Individual Taxpayer Identification Numbers expired on Dec. 31, 2017. This includes any ITIN not used on a tax return at least once in the past three years. Also, any ITIN with middle digits of 70, 71, 72 or 80 is now expired. Affected taxpayers should act soon to renew their number.
  • Some taxpayers using a tax filing software product for the first time may need their Adjusted Gross Income amount from their prior-year tax return. They need this to verify their identity. Taxpayers using the same tax software they used last year will not need to enter this information.
  • When you’re not ready and need additional time to report your tax returns, then choose to efile Extension Tax Form 4868 by the duedate to push your deadline from April 17 to October 15.
  • e-file a Tax Extension request today to get automatic extension of time by 6 months and extension of time is only for report your tax and not for making any tax payments.
  • http://ExtensionTax.com is just charging $9.99 for a single extension tax return, you could get an IRS acknowledgement in just minutes once IRS accepts your extension form 4868.

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Filing an Extension Application for Corporate or Partnership Taxes

Form 7004 is the form used to file for an automatic extension of time to file your business tax return for a partnership, a multiple member LLC filing as a partnership, a corporation, or s-corporation. You must file this extension by the due date of your business tax return. This is an automatic extension, so you don’t have to worry about your extension being approved.

Taxes must be paid by due date

The IRS says, “Form 7004 does not extend the time for payment of tax.” You must pay taxes due (estimated) by your tax return due date, even if you file an extension application. You will need to estimate as best you can because under-estimating can subject your business to fines and penalties.

Due Dates for Returns and Extension Applications

The due date for partnership and multiple-member LLC tax returns has changed, effective with 2016 tax returns and into the future. Partnership tax returns are now due on the 15th day of the third month after the end of your fiscal (financial) year. Since your partnership must end on December 31, the due date is March 15. (The old due date was April 15).

Tax return due dates vary by year. If the due date is on a weekend or holiday, the actual due date for that year is on the next business day. Extension applications for all business taxes must be filed by the tax return due date and taxes must be paid by the due date, even if an extension application is being filed. The taxes due must be estimated and the balance paid at the time the return is filed.

Corporate tax returns: Corporation tax returns are due and taxes are payable on the 15th day of the fourth month after the end of the company’s fiscal (financial) year (effective with 2016 tax returns), on Form 1120. So, a corporation with a year-end date of December 31 must file and pay taxes by April 15.

S corporation tax returns: S corporations must take a December 31 year-end to coincide with the tax return due date of the owners, so S corporation tax returns are due March 15, filed on Form 1120-S.

Partnership tax returns: Business tax returns for partnerships (including multiple-member LLC tax returns, which are considered as corporations) on Form 1065 are due March 15.

When the Extension Expires (and the Return is Due)

Corporations and S corporations have six months from the extension due date to file the tax return. So, a December 31 corporation would have until October 15 to file the appropriate tax return.

Partnerships and multiple-member LLC’s have six months from the extension due date to file the tax return. So, a partnership would have until September 15 to file the partnership tax return.

How to File Form 7004

The IRS introduced electronic filing to file your tax extension Form 7004, you can use http://ExtensionTax and eFile this extension request online. IRS would process and if everything seems to be ok, it accepts and we share you the acknowledgement instantly.

By filing your Tax Extension returns, your return could be processed faster, in no time and an acknowledgement is readily available. Online Tax Extension is smarter, simpler and faster. It is just $9.99 for a single Tax Extension return.

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Extension of Time to File Your Individual Tax Return

Need more time to prepare your federal income tax return? We’re here to support you in preparing and filing your extension of time request with IRS. We have information on how to apply for an extension of time to file.

Please be aware that an extension of time to file your return does not grant you any extension of time to pay your taxes. April 18 is the deadline for most to pay taxes owed and avoid penalty and interest charges.

With the income tax season winding down, the IRS wants to remind taxpayers how to request some extra time to file their return and the options they have to pay their tax bill.

If you need more time to file your return, you can get an automatic six-month extension of time to file from the IRS. You must file for an extension by the April 17 deadline. An extension will give you extra time to get your paperwork to the IRS, but it does not extend the time you have to pay any tax due. You will owe interest on any amount not paid by the deadline, plus you may owe penalties.

Income Tax Extension Return Continue reading

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File Extension Tax Returns online!

Form 4868 gives you an automatic six-month extension of time to file your federal income tax return. Thus, for 2015 federal income tax returns that are due on April 18, 2016 (April 19 for those in Maine and Massachusetts) (the usual April 15 deadline has been extended because of legal holidays), the six-month extension gives you until October 17, 2016 (October 15 is a Saturday). By obtaining the extension, you avoid any late-filing penalties as long as you do file by the extended due date. For the extension to be effective, you must make your request no later than the original due date of the return.

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An extension does not give the taxpayer an extension of time to pay. Those who owe taxes can make a payment when they file the extension either by mailing a check or by several electronic payment methods, such as electronic funds withdrawals from bank accounts and credit card payments.

Each time an online service provider speaks about the features they own, there is a strategy hidden. We don’t belong there. We speak what you see, what you will experience and what you will gain if you e-file with ExtensionTax.com. Existing since a decade, we know what exactly a customer would expect out of an online filing service provider and we have always been working out every possible method to add ease to your filing.

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Our online efiling service journey started with a simple online filing application with minimal efforts. We build, create, or inspire our audience to try to move along with the technology. ExtensionTax.com is developed on the strongest platform, with the best UI and add on features that will add ease to your filing session. From Error check to tax calculations, text alert to customer support, you can enjoy every service at one place, on the go.

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Extension Form 4868 e-file for just $9.99 !

Extension Tax onlineI did my extension tax on time! and my extension request is accepted by IRS. I’m relaxed now and I have time to get all my paper works ready and file it before 15th, October 2015.

Wow! it is just $9.99 only! subscribe for instant TEXT alert and get an update immediately in your cell phone. No more waiting for emails, it sounds great right!

Please note extension is only for filing your return not for paying your taxes. Please your tax immediately and avoid penalties and interest.

www.ExtensionTax.com is an IRS authorized e-file provider and has 1000’s of happy extension seekers using our service year on year.

ExtensionTax.com is also available to e-file extension return from your mobile, android phone and iPhone. It is compatible with all hand held devices that could connect with an internet to file taxes online.

ExtensionTax.com mobile appsIs your business income tax due this April 15th, 2015? then request for an extension when you are not ready with your return. E-file an extension request now at www.ExtensionTax.com. Call us at +1 (866) 245 – 3918 or write to us at support@extensiontax.com

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