IRS Federal Tax Deadline is April 15th
3 Easy Steps to Extend Your Tax Filing in 5 Minutes
The IRS requires that you provide certain personal information to file a tax extension — including your name, address, and Social Security Number (as well as your spouse’s, if applicable). You don’t even have to worry about digging up past tax returns, W-2 forms, 1099 information returns, or other complex tax forms. Plus, your data is protected by our first-rate security technology and shared only with the IRS.
Many taxpayers mistakenly believe that when they file a tax extension, they are requesting an extension of time to pay their taxes. The reality is you are only asking for additional time to file. There is no extension to pay any tax you may have due. It’s important to remember that to avoid late payment penalties you must either a) owe less than $1,000 b) have already paid or had withheld at least 90% of your final tax bill or c) have already paid or had withheld 100% of your total taxes owed last year. For this reason, it’s essential that when you request an extension, you make sure you estimate your potential tax liability (if any) for that year. The good news is approximately 3 out of every four taxpayers will owe nothing on Tax Day and will be receiving a refund when they file. TaxExtension.com makes it easy to assess your situation with our convenient tax calculator. If you owe tax or want to play it safe and make an estimated tax payment, you can make a payment right here from your bank account via Electronic Funds Withdrawal (EFW), which will help you avoid IRS late fees and interest charges.
Click “Submit” to eFile Form 4868, and done! We will transmit your extension application (and tax payment) directly to the IRS. You can even log in to our system and check the status of your extension at any time of day. As soon as the IRS approves your tax extension, we send you a confirmation email — something you never get if you file a paper tax extension.
Again, in the rare case that the IRS rejects your tax extension, we will help determine why — and, after fixing any mistakes, you can resubmit your extension for free. The IRS gives you a few extra days to fix errors and re-submit your extension. Note that nearly all tax extension rejections are because the name and Social Security Number don’t match IRS records (usually due to typos or misspellings). As long as you provide accurate information and file by the filing deadline, you should have no problem getting approved — which is why it’s called an “automatic extension.”
As an authorized IRS e-file provider, TaxExtension.com protects your data with the latest technology and daily security scans. This allows our customers to eFile and electronically make secure online payments knowing that their information is kept private.
If you have any questions, our dedicated support team is standing by.
Let us help take the stress out of tax season — get your personal tax extension online today!
A Federal tax extension gives you 6 extra months to file your return — including IRS Form 1040, 1040NR, 1040NR-EZ, 1040-PR, and 1040-SS.
Individuals who are involved in a self-employed trade or business are expected to report their income on Schedule C of IRS Form 1040.
For Federal income tax purposes, a single-member limited liability company (LLC) is usually not treated as a separate entity from its sole member.
It is fast, convenient, and secure! Every year, more and more people use TaxExtension.com to e-file their extensions and pay taxes online.
If you fail to file for a tax extension or your tax return by the proper filing due date (March 15th, for most businesses and April 15th for most individuals), the IRS will impose interest and penalty charges on any unpaid Federal taxes, as well as penalties for filing late.
The failure-to-file penalty is 5% of the unpaid tax, charged per month (up to a maximum of 25%). If your tax return is over 60 days late, you may be liable for, depending on the tax year, a minimum penalty of up to $450. The sooner you file a tax extension or tax return, even if you can’t pay all that you owe, the less likely you are to ultimately owe the IRS.
Some Ways of Automatic Tax Extension : For many reasons, many taxpayers can’t file their federal individual income tax return by the IRS filing deadline. Many people are surprised to hear that each year, over 14 million American taxpayers request an automatic extension of time to file from the IRS, which they can accomplish in a couple of ways. There’s the old fashion way, by filling out and mailing IRS Form 4868 (Application for Automatic Extension of Time to File U.S. Individual Income Tax Return) by the original filing deadline. If the IRS accepts and approves the extension, taxpayers then have until October 15 to prepare their taxes. There is one relatively major downside to mailing in the paper form. The IRS will only notify you if they reject your extension, they do not inform you that it was approved, which can be problematic. When the IRS denies your extension for any reason, they will also notify by the U.S. mail. Unfortunately, by the time that notification reaches you, it will be well passed the tax filing deadline, and you will already potentially be in a position of owing late filing penalties.
Alternatively, when you eFile your extension, you’re notified of being approved or rejected in a matter of minutes. If your tax extension is rd for any reason, you have the opportunity to correct any errors and resubmit it to the IRS. At TaxExtension.com, it only takes a few minutes to extend your filing deadline. Our team of tax professionals and product experts have designed an easy-to-use online process that guides you through electronically submitting Form 4868 to the IRS.
Online Payment & Support : As an authorized IRS e-file provider, TaxExtension.com protects your data with the latest technology and daily security scans. This allows our customers to eFile and electronically make secure online payments knowing that their information is kept private.
The rules and regulations for business tax extensions are different in every state. Some states will automatically grant you a state tax extension if you obtain a valid Federal extension — but other states require a separate state-specific application. For state-by-state information about filing tax extensions, please visit our State Tax Extensions center.
If your company maintains financial books/records, you can determine your current tax liability if you multiply your taxable income by the applicable tax rate. Many people simply use their numbers from last year’s tax return (as long as your tax situation is relatively similar). Remember to reduce your current tax balance by the amount of tax that was withheld (or paid via estimated tax payments), if any, during the year.
Yes. You can get more time to file for an estate or trust by submitting IRS Form 7004 for a business tax extension. An extension will give you 5 extra months to file Form 1041 (U.S. Income Tax Return for Estates and Trusts). During TaxExtension.com’s online application process, you will have the option of choosing “Estate” or “Trust” for your business entity type.
It depends on what type of LLC you have. For Federal income tax purposes, a multi-member LLC is classified as a “partnership” by default (unless it specifically elects to be treated as a corporation). A multi-member LLC classified as a partnership should request a business tax extension (IRS Form 7004) to get 5 extra months to file. A multi-member LLC classified as a corporation should also request a business tax extension, which provides 6 extra months to file a corporation return. On the other hand, a single-member LLC is classified as a “disregarded entity” by default (unless it specifically elects to be treated as a corporation). When a single-member LLC is treated as a disregarded entity, that means its activities are reported on the owner’s individual income tax return (Form 1040). So if you have a single-member LLC, you only need one (1) personal tax extension (IRS Form 4868) to cover yourself and your business, which gives you 6 extra months to file your return.
Independent contractors (Form 1099), sole proprietors (Form 1040 Schedule C), and single-member LLCs that report their business activities on their personal tax return (IRS Form 1040) should request a personal tax extension — not a business extension. For these taxpayers, a personal extension (IRS Form 4868) will cover both themselves and their business. If you have a different type of business, such as a partnership or S-corporation, you should file IRS Form 7004 for a business tax extension.
An IRS tax extension will give a business 5 or 6 extra months (depending on the type of business entity) to file its Federal income tax return. A business tax extension grants 5 more months to file: Form 1041, Form 1065, and Form 8804. A business tax extension grants 6 more months to file: Form 706-GS(D), Form 706-GS(T), Form 1041 (bankruptcy estate only), Form 1041-N, Form 1041-QFT, Form 1042, Form 1065-B, Form 1066, Form 1120, Form 1120-C, Form 1120-F, Form 1120-FSC, Form 1120-H, Form 1120-L, Form 1120-ND, Form 1120-ND (section 4951 taxes), Form 1120-PC, Form 1120-POL, Form 1120-REIT, Form 1120-RIC, Form 1120S, Form 1120-SF, Form 3520-A, Form 8612, Form 8613, Form 8725, Form 8831, Form 8876, Form 8924, and Form 8928. Our easy-to-use online application makes it easy for you to select the correct business entity type. If you are unsure which business tax return is required for your business, TaxExtension.com will help you figure it out.
Most partnerships and multi-member LLCs are required to file a separate income tax return, which means you will need a business extension to cover your business tax return, plus a personal extension to cover your personal tax return. On the other hand, a single-member LLC is classified as a “disregarded entity” (or “pass-through entity”), which means the business activities are reported on the owner’s personal tax return. In that case, you would only need a personal tax extension to cover both you and your business.
If you file a separate tax return for your business and you’re required to provide the business’ EIN (employer identification number) on the return, you should also provide the EIN on your tax extension request. Note that most businesses are required to obtain an EIN, which the IRS uses to identify a business entity. However, if you have a single-member LLC — which is considered a “pass-through entity” (or “disregarded entity”) — you should use your SSN (Social Security Number) instead of an EIN. Pass-through entities are reported as part of the owner’s personal tax return, which means you only need one (1) personal tax extension (IRS Form 4868) to cover both yourself and your business.
Corporations are granted a 6-month tax extension, which moves their filing deadline from March 15 to September 15. Trusts, certain estates, most partnerships, and some multi-member LLCs are granted a 5-month tax extension, which moves their filing deadline from April 15 to September 15.
In most cases, you will hear back from the IRS within 24 hours of submitting your business tax extension online. However, it’s important to note that IRS response times will be longer than normal on the last day of filing (March 15 and April 15). As soon as your business extension is approved by the IRS, you will receive an email from TaxExtension.com with the details of your extension, including your official IRS confirmation number.
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