Life After Missing The 941 Tax Form 2018 Deadline

July 31st marked the end of a long month, but it also marked the tax filing deadline for 941 tax form 2018, which is used to report second-quarter employment taxes to the IRS. If you didn’t file in time, don’t panic. The tax filing deadline may have passed, but there is life after missing the 2018 Form 941 deadline. Here’s how to avoid more penalties and fees after filing your taxes late.

Life After Missing The 941 Tax Form 2018 941 Deadline

Since time is not your best friend right now, we’ll get straight to it. If you missed the Form 941 for 2018 deadline you need to file immediately with our sister product, TaxBandits!

No, this isn’t just a shameless plug–you really need to e-file your IRS Form 941 with them ASAP to avoid hefty IRS penalties. Penalties for filing taxes late start accumulating right after the missed deadline, and the only way to get on top of them is to stop them.

Curious as to what those penalties are? Let’s take a look…*brace yourself*

Failing to File

If you failed to file your 941 tax form 2018 by the July 31 tax filing deadline, your business will incur a penalty of 5% of the total tax amount due. You will continue to be charged an additional 5% each month the return is not submitted to the IRS, and this charge can continue for up to 5 months.

If, in addition to failing to file, you failed to pay your owed tax bill, you will initially be charged .5% of the unpaid tax amount. This fee will increase each month the payment remains unpaid. The penalty will increase to 1% ten days following the IRS notice of intent to levy.

Note: If you also failed to pay taxes owed or did not pay the amount in full, click here for more information on failure-to-pay penalties.

File Form 941 for 2018 TODAY to Avoid More Penalties

The longer you wait to file, the more you will have to pay!  😳 

Now that you know where to file Form 941, set aside some time today to complete your tax filing requirements. E-filing is quick and easy with TaxBandits. By providing a simplified, interview-style process, TaxBandits enables you to conveniently e-file and keep your penalties to a minimum. They even provide you with a Form 941 for 2018 Checklist to ensure you have everything you need to file properly.

If you have any questions or need assistance filing 941 tax form 2018, we are available by phone, live chat, and email, standing by ready to help!

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You Need To Know There is No Extension For 941 Payroll Tax

As an employer, you have likely completed your fair share of tax forms over the years. While you might be a pro at staying on top of your small business tax compliance, mistakes and life happen. You know that you can always receive an additional amount of time by requesting an IRS extension. However, is this the case for the 941 payroll tax form?

Unfortunately, this is not the case. Your second-quarter tax filing deadline for IRS Form 941, the Employer’s Quarterly Tax Return is July 31. Sorry to be the bearer of bad news but you need to know there is no extension for 941 payroll tax forms. But don’t worry! We are about to walk you through a quick “Master Class” of all things Form 941 so you can file by the Form 941 deadline.

You Need to Know There is No Extension For 941 Payroll Tax

IRS Form 941 Overview

IRS Form 941 is filed by employers and business owners to report employment taxes for their employees every quarter. Standard withholdings like federal income tax, social security tax, and Medicare taxes are outlined on this form and submitted to the IRS.

Unlike other tax forms that are due once a year, Form 941 for 2018 has a total of four deadlines, which include:
  • First Quarter (January - March)
    Due April 30, 2018
  • Second Quarter (April - June)
    Due July 31, 2018
  • Third Quarter (July - September)
    Due October 31, 2018
  • Fourth Quarter (October - December)
    Due January 31, 2019

Looking For Where To Send Form 941?

Don’t worry about finding the Form 941 mailing address for 2018––E-file instead! E-filing Form 941 for 2018 is simple when you have the necessary information on hand and file with our sister product, TaxBandits. Here is what you will need to complete your second-quarter tax filings:
  • Your Name, EIN, and Address as the Employer
  • Total Number of Employees
  • Social Security & Medicare Taxes
  • Deposit Made to the IRS
  • Monthly/Semiweekly Tax Liability
  • Signing Authority Information
  • Form 8453-EMP or Online Signature PIN
Note: If you don’t already have an online signature PIN use Form 8453-EMP instead.

Form 941 Instructions 2018 

Follow these steps and you will have your quarterly filing completed in no time:

Wait...There Really Isn’t An Extension?!

“Well if you don’t know, now you know!”

Yes, there really is no extension of time to file IRS Form 941. Failing to file Form 941 for 2018 by the second-quarter deadline on July 31 will result in some pretty expensive penalties from the IRS that I’m sure you would like to avoid. Bookmark and share this blog with other employers to help them stay tax compliant.

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How To Get Started on The 2018 IRS Form 941

We have officially entered into the third quarter of the year which means the beloved second quarter 941 Form 2018 filing deadline is around the corner. If you like to stay ahead of the game and handle your tax filings early, we have the information you need to get started on the 2018 IRS Form 941 before the deadline. 

How To Get Started on The 2nd Quarter 941 Form 2018 Deadline

What is 2018 IRS Form 941 & When is it Due?

The Employer’s Quarterly Tax Return, commonly known as IRS Form 941, is used by business owners and employers to report employment taxes. Unlike other annual tax forms, Form 941 must be filed four times a year (quarterly).

The 2018 IRS Form 941 second quarter filing is due by midnight on Tuesday, July 31, 2018, and covers the months of April, May, and June.

What You Need to File Form 941 for 2018

Required Information & Details

To begin your 2nd quarter 941 Form 2018 filing, you will need to provide basic employer details, which includes your name, EIN, and address. You probably know two out of those three off the top of your head. 😆

Here’s the other information (Employment Details) you will need to complete your quarterly filing:

Online Signature PIN

Whenever you file Form 941 online, you are required to verify your identity through an online signature PIN or Form 8453-EMP. Using an online signature PIN allows you to instantly e-sign your form every time you file and makes the process much simpler. Here’s how you can apply for your FREE Online Signature PIn using our sister product, TaxBandits:
  • Click here to Apply Now for your 94x PIN
  • Enter your basic employer information, such as the business name, type, EIN, and address.
  • Enter the information required for a signing authority.
  • Authorize your PIN request and send it to the IRS.
Once you have been approved the IRS will send you a 10-digit PIN. To activate this PIN, you must sign and return a statement acknowledging that you received the PIN from the IRS within 10 days.

Note: If you do not receive your online signature PIN by the Form 941 deadline you can use Form 8453-EMP to e-sign and complete your 941 return.

How To File Form 941 Online

Filing 941 Form 2018 and meeting the second quarter deadline is much easier than you may think; especially when you file with TaxBandits. Here’s what you will need to do to file: 

  1. Sign in or Create your TaxBandits account
  2. Select “Form 941”
  3. Enter employer details
  4. Choose the appropriate tax year/quarter
  5. Follow Interview-Style Process
  6. Enter the deposit made to the IRS
  7. Enter your deposit schedule and tax liability
  8. Enter the online signature PIN or complete Form 8453-EMP
  9. Review, pay and transmit your form directly to the IRS. 

Ready, Set, GO!

The race to deadline day on July 31st has already begun. Use the information you’ve learned in today’s blog to get started on your second quarter 2018 IRS Form 941. There is no extension for quarterly tax filings so be sure to create a free account with our sister product TaxBandits and start filing today!

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How To Use Extension Form 8868 For Your Advantage

Meeting deadlines, especially during the busy summer months, can be quite the challenge. If you need additional time to file your organization’s Form 990 online by the August 15th Form 990 deadline, you will want to file a tax extension to avoid IRS penalties. The IRS provides extension Form 8868 for tax-exempt organizations to help you keep your exempt status; here is how to use Extension Form 8868 for your advantage.

How To Use Extension Form 8868 For Your Advantage

Form 8868 is an extension form used by charities, nonprofit groups, and other tax-exempt organizations to receive an additional 6 months to file their 990 return. In order to be granted this extension, your tax-exempt organization must file a Form 8868 by the original filing deadline. How do you know what your nonprofit’s original filing deadline was?

Exempt organizations that begin their fiscal tax year on April 1st must file by the August Form 990 deadline on August 15th. 

If you’ve yet to start your 990 filing, I highly suggest that you switch gears and take a couple of minutes to quickly file IRS Extension Form 8868. Here is how you can file Extension Form 8868 using ExpressExtension.

Filing IRS Form 8868 Today To Keep Your Tax-Exempt Status

Your tax-exempt organization can e-file IRS Form 8868 in less than two minutes using ExpressExtension. To e-file Form 8868 you will need to gather basic details for your organization including the organization’s name, address, EIN, tax year period, and which IRS 990 Form you typically file.

Once you have this information on hand, e-filing IRS Form 8868 is a breeze!

4 Steps To File Extension Form 8868

  1. Create or log in to your ExpressExtension account 
  2. Click “Create Exempt Org Tax Extension” from your account Dashboard.
  3. Follow the step-by-step guide to complete tax extension Form 8868 online.
  4. Transmit directly to the IRS
👀 See? I told you it was simple! The deadline will be here before you know it, so register for your free account and file Extension Form 8868 to ensure that you keep your tax-exempt status before it’s too late!

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How To Increase Your 2019 Tax Refund Starting Now

Unless you’ve been super busy and received extra time to handle your personal tax return filings using ExpressExtension, you have received your 2018 tax refund. If you are looking for ways to increase your tax refund next year then you have come to the right place. We’ve done some research and have a few tips on how to increase our 2019 tax refund starting now.

How To Increase Your 2019 Tax Refund Starting Now

Adjustment Withholding Allowances

One of the easiest ways to receive a higher 2019 tax refund is by adjusting your withholding allowances. While reducing allowances increase your income tax withholding, this means that your paycheck will be less, but the payoff in the following spring is much greater than having to owe taxes to the IRS.

Adjusting withholding allowances is easy as simply asking your HR department for your W-4 form and finding out how many allowances you should take to receive a higher tax refund.

Track Deductions

Staying organized is the main key to successful tax filing and helps with managing tax deductions. An easy way to track deductions is by simply creating a file or folder labeled “Current Tax Info” and store any tax-deductible transactions you make throughout the year.

Standard deductions for college courses, student loan interest, childcare, charitable donations, and more, can be deducted if you have a record of the transaction. Self-employed individuals can also track mileage, income, expenses, etc.

Save, Save, Save!

Saving money throughout the year is a challenge for some, but easy for others. Consider investing in your retirement fund early on. You can contribute up to $18,500 in your retirement for 2018, or $24,500 if you are 50 years of age, and lower your taxable income.
Self-employed individuals have the opportunity to contribute to a Simplified Employee Pension (SEP) IRS for as much as 25% of your net earnings or up to $55,000 for 2018, and your contributions can be deductible as a business expense. Contributions of up to $5,500 towards your IRS will receive a tax deduction for this contribution.

Note: Those who contribute to their retirement may be eligible for the Saver’s Credit which is worth up to $1,000 ($2,000 married filing jointly).

Make a Donation to Charity

Take a few moments to do some “summer cleaning” and make a donation to charity. Deductions can be made for the fair value (thrift shop value) of the household goods you no longer use. Keep a record of each donation and report it as a deduction when filing.

Ready, Set, Go!

The path to increasing your 2019 tax refund starts now! Take advantage of the free time you have this summer and use these tips along the way.

If you need more time to file your income taxes for 2019, simply e-file Form 4868 with ExpressExtension and you will receive an automatic 6-month extension of time to file your individual income tax return.

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How To Get a New Copy of Your W-2 Form

Employers are responsible for distributing W-2 Forms to their employees by January 31st of each year. Share this informative blog with your employees to give them insight on what to do when they lose their W-2 Form.

Employer researching how to get a copy of Form W-2Every year, around of the end of January, you should receive a Form W-2, Wage and Tax Statement, from your employer, which is needed when filing your personal taxes by the annual April income tax deadline.

But I have to ask you... Have you ever misplaced your Form W-2? ...Yea? So have I, don’t feel bad. Searching frantically for your tax information can stress you out, but it doesn't have to.

Here is your inside scoop on how to get a new copy of your W2 Form fast so you can get organized before the second quarter.

How To Get a New Copy of Your W-2 Form

Why Should I Keep a Copy of Form W-2?

Whether you are a small business owner or work for a company, keeping track of your tax information is very important. Here are just a few things that W-2 Forms are used for outside of filing your personal taxes:

  • Employment Verification 
  • Loan Approval 
  • Maintaining Tax Compliance (Businesses) and more
With the 2nd Quarter Form 941 deadline around the corner, you will need to report the information listed on your W-2 Form. Unsure if you need to request a transcript or copy? Here's a quick breakdown of each and how they can be obtained. 

Form W-2 Transcript

A transcript shows the data reported to the IRS on information returns such as Forms W-2, Form 1099 series, Form 1098 series, and Form 5498 series. However, keep in mind state or local information is not included with Form W-2 information.

The IRS provides a convenient Get Transcript Tool that allows you to request your wage and income transcript online. Transcripts are available for the past ten tax years; however, your current tax year information may not be complete until July.

Tip: IRS Form 4506-T, Request for Transcript of Tax Return, can also be used to request a wage and income transcript the good, old-fashioned way of paper filing.

Copy of Form W-2

The IRS only retains the copies of W-2 Forms that were attached to a paper tax return filed with the IRS. Receiving a Form W-2 copy is a little tricky because the only way to get a copy is to order a copy of the entire tax return using Form 4506, Request for Copy of Tax Return, and paying a $50 fee for each requested return.

The fee for requesting a return will be waived if a federally declared disaster impacted the taxpayer.

ExpressExtension not only provides you with personal income tax extensions, but we are your sources relevant IRS tax information.

If you find yourself unable to locate your Form W-2 and need to take care of tax matters before an upcoming tax deadline, be sure to file an extension with ExpressExtension to receive extra time to file. We provide extensions for individual income tax returns, information returns, business income tax returns, exempt organization returns, and more!

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How to File Your Form 990 Extension?

How to File Your Form 990 Extension?

Before we get started, many of you might be asking, “When is the Form 990 extension due date?” Well, it's today! If you need more time to file 990 online, your best bet for avoiding IRS penalties is to file a tax extension. Here is how to file your Form 990 extension before it’s too late.

How to File Your Form 990 Extension?

Despite your reason for needing additional time, the IRS will automatically grant you a six-month extension of time to file your IRS Form 990, the nonprofit tax return. The application process is quick, easy, and you will receive approval within the hour.

Form 990 Extension Due Date

2017 Nonprofit Tax Return

ExpressExtension has your back if you need more time to file IRS Form 990 online. Use our simplified e-filing guide to instantly file an IRS Form 990 extension; Form 990 is the Exempt Organization Tax Extension Form. With our unique online tax filing software, you do not need to know any complex IRS jargon, and there is zero hassle as you follow our streamlined step-by-step Form 8868 (extension for Form 990) instructions to transmit your tax extension directly to the IRS. 

When Is My Form 990 Due?

Your Form 990 extension due date is today, June 15th, if your tax-exempt organization's accounting period runs from February to January.

What Happens if I Fail to File a Form 990 Extension?

If you fail to file or submit your IRS Form 990 (or extension) late, there is a $20 penalty per-day up to $10,000 or 5% of your tax-exempt organizations total gross receipts.

E-File Form 8868, your Form 990 extension, before tonight’s IRS tax deadline.

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