If you need to file for a tax extension, there are two ways you can go about it. You can either file a paper form and send it through the U.S. Post Office or you can file it electronically online. Of these two options, online filing is definitely the best way to go for a number of reasons. When you file online, you’ll receive an electronic notification that your extension has been approved or rejected in a matter of minutes. When you send in a paper form, you are never notified that your extension has been approved or even received and processed. If you are wondering how and where you can electronically file your tax return, here is a comprehensive guide answering all questions regarding electronic tax extension filing.
Filing Your Online Tax Extension with TaxExtension.com
At TaxExtension.com, the process of electronic tax extension filing is quick and easy. Not only can you file your application online, but you also receive virtually instant notification of the status of your extension with the IRS.
Filing your tax extension online through TaxExtension.com can be very helpful, especially for those who owe money to the IRS. You can make payments, helping you get rid of any due taxes at the same time you file for extension. By making your tax payment along with your extension request, you can bring down your interest costs in the future.
Using TaxExtension.com, you can file for an extension for both your personal and business tax return electronically. The process for filing these taxes is almost similar and extremely easy. However, the business tax extension application can be a bit more complicated than the personal one, and the charges applicable for electronically filing the first are also a bit high.
Helping you with all your tax extension issues and other related tax issues that can affect your extension, TaxExtension.com is the ideal place to file your taxes electronically. Just ensure that all the calculations you have made are completely accurate and that you have provided all the correct information. That way, there is no way the IRS can reject your application.
Requirements for Filing a Tax Extension Online
If you are filing your tax extension application electronically, you won’t need a lot of information and you don’t need to provide the IRS with a reason. The most important details you would require are mostly personal such as your name, address and SSN. You would also need to determine whether you owe money to the IRS or are entitled to receive refunds. A useful and easy to operate tax calculator is available at TaxExtension.com so that you can make all the necessary calculations. If you believe that you owe money to the IRS, you can also arrange to make payments through the website right after you file for your electronic tax extension, saving yourself from any extra fee.
Is It Easy To File Tax Extension Yourself?
A tax extension application is extremely fast and easy to fill and submit. If you are filing your taxes electronically, you can simply open the site and finish with your application right away. The form and all the other resources you will need are accessible on the website. You can easily check how much tax you owe and make your extension request accordingly. However, other websites will also allow you to print the form so that you can mail it to the IRS. However, the electronic filing procedure through TaxExtension.com is definitely much simpler and uncomplicated.
How to File for Personal Tax Extension Online
Filing for a personal tax extension would extend your tax filing deadline by a period of six month, making your final deadline October 15th. If you are going to file your tax extension request electronically through TaxExtension.com, here is a step-by-step guide to help you out.
Gather the Required Information
First, you will be required to provide your basic, personal information. This includes your legal name, address and Social Security number. If you and your spouse are filing jointly, you will need to provide the same information for your spouse as well. Aside from that information, the only other details you may need are to have your W-2’s handy to assist you in estimating any taxes you may owe. All the information you submit to the site is secured completely and is only shared with the IRS through secured connections and strong encryptions.
Estimate Your Taxes
Remember, a tax extension gives you more time to file, not pay any taxes that you may owe. Each year, approximately 20% of taxpayers will owe the IRS when they file their tax returns so it is prudent, before you file your tax extension application, to utilize our easy to use tax estimation tool we provide to determine how much, if anything, you may owe the IRS when you do file your return. Generally, the IRS will not charge a late payment penalty to taxpayers who owe less than $1,000 in tax after subtracting their withholding and refundable credits, or if they paid withholding and estimated tax of at least 90% of the tax for the current year or 100% of the tax shown on the return for the prior year, whichever is smaller.
Hence, a common and safe strategy that many taxpayers use is to check their prior year tax bill and ensure that their withholding plus any estimated tax payment they make with their extension are equal. TaxExtension.com provides you a way to make a tax payment to the IRS directly from your bank account through Electronic Funds Withdrawal.
Submit Your Extension
Once you click on the Submit tab, your tax extension request will automatically be transmitted to the IRS for approval. Usually, you will receive a notification from TaxExtension.com informing you about the approval of your tax extension within minutes. If your tax extension application is rejected, you would also be provided with a detailed report about what went wrong. That way, you can resubmit your application after making the necessary changes without any additional charges.
Since it’s an automatic extension, rest assured that your request will be approved. If it doesn’t, remember that the main reason why most applications get rejected is because applicants submit incorrect personal details. As long as you provide the correct information and submit the request on time, you will have high chances of getting approved. Being an IRS-approved e-filing service provider, TaxExtension.com ensures that all your information and data will be secured and only displayed to the IRS.