What To Do After You File Form 4868 Electronically?

Once you file Form 4868 electronically, you will receive an automatic extension of time to file your individual income tax return. IRS extension Form 4868 can be used to apply for an additional six months to file any of the following IRS Forms: 1040, 1040A, 1040-EZ, 1040NR,1040NR-EZ, 1040-PR, or 1040-SS. So what to do after you file Form 4868 electronically.

What To Do After You File Form 4868 Electronically?

If you use ExpressExtension to file tax extension Form 4868 online, you will receive a confirmation email within 48 hours of submitting. You will also be given the opportunity to pay any taxes due by the original IRS deadline.

State Income Tax Extension Requirements

After you file tax extension Form 4868, you will need to consider filing a tax extension for your state. State tax extensions vary from state to state, so it is important to check with the IRS before the original deadline.

If your state requires a separate tax extension application, you will need to contact your state's tax authorities. Merely call the service number and ask the agent what form is required and when the form must be submitted.

Income Tax Payment Deadline

The automatic six-month tax extension allows you to file your income tax form after the original deadline. However, IRS extension Form 4868 will not extend the time to pay any taxes you may owe. This means if you do not pay your tax balance by April 17, 2018, income tax filing deadline you will be hit with penalties and interest.

If you are unable to pay the full amount, it is recommended to give as much as possible. Your penalties and interest amount will be based on the amount you owe and how long it is unpaid. Late payments are 0.5% of the outstanding tax balancer per month. However, this amount will be capped at 25% of the overdue tax.

File Tax Extension On Time

Typically, the deadline for filing your federal income taxes is April 15. However, April 15, 2018, falls on a Sunday, and some areas recognize Monday as a holiday. So the tax deadline for filing federal income taxes is Tuesday, April 17, 2018.

If your six-month IRS extension is approved, you will have until October 15, 2018, to file your required forms.

Reasons for Rejection: Tax Extension Form 2017

Even if you file before the deadline, some IRS extension requests may be rejected for the following reasons:

  • Misspellings
  • Incorrect information
  • Out-of-date information
  • Information does not match address or name in IRS records

The IRS does provide a five-day window in which you can fix any issues or errors. ExpressExtension will allow you to refile at no additional cost.

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What Is The IRS 2017 Extension Form 8809?

Business owner on a mac computer filing IRS 2017 extension Form 8809IRS Form 8809 is officially titled the Application for Extension of Time to File Information Returns. This form automatically grants a 30-day extension for individuals, insurers, self-insuring employers, other coverage providers, and applicable large employers to file federal tax returns. If you don’t think you will be able to file your information returns by the original deadline, you can apply for an extension with Form 8809.

What Is The IRS 2017 Extension Form 8809?

IRS 2017 extension Form 8809 must be filed by the original IRS deadline of the information return.

IRS Forms
Original IRS Deadline
Form 1042-S
March 15
Form 1094-C
April 2
Form 1094-C
April 2
Form 1095
April 2
Form 1097
April 2
Form 1098
April 2
Form 1099
April 2
Form 3921
April 2
Form 3922
April 2
Form W-2G
April 2
Form 8027
April 2
Form 5498
May 31

Business owner with glasses and a red and black paid shirt has filed IRS form 8809 for an extension of time to file IRS forms

IRS 2017 Extension Form 8809 Requirements

To file IRS Extension Form 8809, you will need the following information:

  • Name
  • Business Name
  • Business Address
  • Phone Number
  • Form Code

How to E-file IRS 2017 Extension Form 8809

  1. Create Account with ExpressExtension
  2. Add Employer Details
  3. Indicate Forms to be Extended
  4. Enter Payer Details
  5. Pay and Transmit Directly With The IRS

IRS Penalties For Filing Late or Failing to File

Filing Conditions
Businesses With More Than $5 Million in Gross Receipts
Businesses With Less Than $5 Million in Gross Receipts
Form filed no more than 30 days late
$50 per return, $529,500 maximum
$50 per return, $185,000 maximum
Form filed 31 days late but before August 1st
$100 per return, $1,589,000 maximum
$100 per return, $529,500 maximum
Form filed August 1 or not at all
$260 per return, $3,178,500 maximum
$260 per return, $1,059,500 maximum
Intentional disregard to file
$520 per return, no maximum
$520 per return, no maximum

Where Can I File IRS 2017 Extension Form 8809?

We are an IRS-authorized e-file provider of business information return extension forms. Our cloud-based software will transmit your Form 8809 safely and securely to the IRS.

Step-by-step instructions help to quickly e-file and transmit the form. Then within a matter of minutes, you will be notified about the status of the IRS approval. Avoid hefty IRS penalties by filing your IRS 2017 extension Form 8809 today!

E-File IRS Extension Form 8809

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Need More Time? File IRS Form 7004 Your Tax Extension

Business owner needs more time to form business income tax forms so is filing for an automatic extensions with IRS Form 7004

Today is the deadline for filing Form 1120 & Form 1065! Need more time? File IRS Form 7004 your tax extension. This automatic extension is used to extend the tax return deadline for partnerships, multiple member LLCs, corporations, and S-corporations. When you file, the IRS will automatically give your business an additional six months to submit your business tax returns.

Need More Time? File IRS Form 7004 Your Tax Extension

Please note that IRS Form 7004 does not extend the time for payment of taxes, it only extends the deadline for filing your return. All estimated taxes are due at the time of filing your tax extension.

IRS Form 7004 Automatic Extension 

Before you file your tax extension this is what you will need to know:

Business owner can now relax now that he has filed IRS Form 7004 to extend the time to file his business income taxesWho Can File IRS Form 7004?
IRS Form 7004 is the tax extension used by Multi-Member LLCs, C-Corporations, S-Corporations, Partnerships, Trusts and some estates to extend the filing deadline automatically.

How Long Will IRS Form 7004 Extend Your Deadline?
The automatic extension will extend a businesses deadline for either 5 or 6 months after the original due date. Certain Partnerships, Trusts, and Estates can only apply for a 5-month tax extension; this is determined by which tax form they would be filing for your return.

The deadline for filing Form 1120 & Form 1065 is today, March 15, 2018! Avoid Form 1120 or Form 1065 penalties by extending your deadline using IRS Form 7004.

What Will You Need to E-File?
  • Business Name
  • Address
  • Employer Identification Number (EIN)
  • Form 1120 or Form 1065 Code

How to File a Tax Extension: Form 7004 Instructions

Step 1 - Create an account (if you don’t have one already)
Step 2 - Select Create New Extension
Step 3 - Enter the required information
Step 4 - Transmit to the IRS

You are just a few steps away from avoiding any unwanted tax penalties with ExpressExtension. File IRS Form 7004 today! We have support staff on standby waiting for your questions contact us by phone, email, or live chat.

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What is The Tax Extension IRS Form 7004?

Business owner filing her business tax IRS Form 7004
IRS Form 7004 is an automatic extension used to file business tax returns for partnerships, multiple member LLCs, partnerships, corporations, and s-corporations. When you file for an extension, the IRS will give you an additional six months to file your business tax returns. The deadline for e-filing a tax extension form is the same as the original IRS deadline for the income tax form. However, while the extension does not extend the time you have to pay any taxes due to the IRS.

You, the business owner are responsible for calculating the estimated tax amount before completing your tax extension form. If you are unsure of your tax amount due, we recommend contacting your CPA or other tax professional about your financial records. You can your estimated taxes while transmitting your extension form. Payments are accepted by Electronic Funds Withdrawal (EFW) using your checking or savings account information.

IRS Form 7004 Infographic and information for business owners

IRS Form 7004 extension overview and information for business owners

IRS Form 7004 business tax extension overview and infographic for small business owners

Business tax extensions IRS Form 7004 infographic for business owners

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How To Maintain IRS Compliance As a Business Owner

A couple of months ago we shared some detailed information on our sister site, TaxBandits, about tax forms that businesses should be aware of.

We received such a great response that we wanted to share with you! 

How To Maintain IRS Compliance As a Business Owner:

Running a small business and handling tax filings for payroll purposes can be somewhat of a challenge. Most small business owners are curious to know which forms are they are required to file to maintain IRS compliance. Here are the 7 IRS forms business owners need to know in order to stay IRS compliant.

7 IRS forms business owners need to know in order to stay IRS compliant

Form 1099-MISC

Form 1099-MISC, the Miscellaneous Information Return is used to report income for services performed for a business by an individual not classified as an employee. Miscellaneous income can include payments made to subcontractors, rental payments, or substitute payments in place of dividends. Non-employees compensated $600 or more must be reported on Form 1099-MISC for the year which services were rendered.

Form 1099-MISC must be filed with the IRS by employers, and a copy of the Form must be provided to the recipient as well.

Form 1099-MISC Overview Filing Deadlines:
  • Due to the Recipient by January 31, 2018
  • Paper file with the IRS by February 28, 2018
  • E-file with the IRS by April 2, 2018

Form W-2, Wage and Tax Statement

Form W-2 is used as a payroll or employment tax return that is filed with the Social Security Administration for employees that have social security, income, or Medicare tax withheld from their income.

A W-2 Form must be filed by employers annually for IRS compliance and are required to send a copy of the Form to their employees to report salary and other compensations offered throughout the year for personal income tax return purposes.

Form W-3, Transmittal of Wage and Tax Statements

Form W-3 is a transmittal form that reports the total earnings, social security wages, Medicare wages, and tax withholdings for your employees during the tax period.

To make things more convenient for you, TaxBandits will automatically generate Form W-3 for you, based on the information you provide on your Form W-2, and send it to the SSA. 

Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return

Form 940 is used to report funds paid towards FUTA. Unsure of what FUTA is? Well, let’s find out now. FUTA (Federal Unemployment Tax Act) are funds which are used by the federal government to pay unemployment compensation to workers who have lost their jobs.

Only employers are responsible for paying this tax as FUTA tax is NOT deducted from employees’ wages. The FUTA tax only applies to the first $7,000 employers pay to each worker during the calendar tax year after subtracting any payments exempt from FUTA. 

Form 941, Employer’s Quarterly Federal Tax Return

Form 941 is used to report employment taxes and is filed quarterly by business owners with employees to report federal income tax, social security tax, and Medicare tax withholdings from each employee’s salary.

This form is also used to calculate the employer’s portion of Social Security and Medicare tax.

Form 941 Quarterly Deadlines:

  • First Quarter (January to March) - April 30
  • Second Quarter (April to June) - July 31 
  • Third Quarter (July to September) - October 31
  • Fourth Quarter (October to December) - January 31

Form 1095-B, Health Coverage

Form 1095-B is used to report certain information regarding minimum essential coverage offered to employees.

This Form is typically used for IRS compliance by insurance providers, such as insurance companies, self-insured employers, employers with fewer than 50 full-time employees, and other agencies that provide health insurance coverage.

Form 1095-B Filing Deadlines:
  • Due to Recipient - March 2nd
  • Paper file with the IRS - February 28th
  • E-file with the IRS - April 2nd

Form 1094-B, Transmittal of Health Coverage Information Returns

Form 1094-B is the transmittal form that accompanies Form 1095-B when filing with the IRS each year. In conjunction with Form 1095-B, these forms are used to report the type of coverage offered by health care providers to individuals.

Form 1094-B also verifies if an individual and any of their dependents received (at least) minimum qualifying health insurance coverage from their provider during the calendar year.

Form 1094-B Filing Deadlines:
  • Due to Recipient - March 2nd
  • Paper file with the IRS - February 28th
  • E-file with the IRS - April 2nd 

Save this article and share with other business owners to ensure IRS compliance for years to come!
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Easy & Quick Filing With ExpressExtension is the Way To Go

Tax season is going full speed this year...ExpressExtension is here for you!

With several tax deadlines coming your way within the next couple of months, wouldn’t it be helpful to get some extra time to file?

ExpressExtension is here to make your wish come true. File with us and in just a few minutes, you’ll be granted an automatic 30-day extension to file your 1099s and ACA forms!

Form 8809 Information Returns Extension

Information Return Extension Form 8809 is for employers who need more time to file their 1099s, ACA, or information forms with the IRS. With our simple and secure e-filing system, you can submit IRS Form 8809 for a 30-day extension and get automatic approval instantly!

The Easiest Way To File an Extension

To be completely honest with you, the easiest way to file an extension by Thursday is to e-file with ExpressExtension.

I know you’re probably thinking, “Oh, he’s just saying that because he works there…*inserts eye roll*” [LOL], but ExpressExtension really is the fastest and easiest way to file an extension. 

What Information Would I Need?

You will only need four pieces of basic information to file Form 8809:
  1. Legal Name
  2. TIN (Tax Payer Identification Number) `
  3. Address
  4. Form Code you wish to extend
Yes, that’s really all of the information that you’ll need in order to file!

How The ExpressExtension Filing Process Works

The first step in the filing process is to simply create or log in to your ExpressExtension account. Then, click on “Create Information Return Extension” from the dashboard screen and the system guides you through entering your information step by step.

Our cloud based software will automatically check your form for errors, and you can transmit to the IRS in just minutes.

You will also receive a confirmation email once the IRS has approved your form. If the IRS rejects your form, we will help you to fix it and retransmit at free of cost.

Check out this informative video and visually see how the process works! 

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You Need to Know the Best Way To Avoid Massive IRS Penalties

ladies work to avoid IRS penalties

Tax season is in full swing now. The business Form 1099 and the W-2 deadline has passed, and people are getting around to filing their personal income tax returns. You need to know the best way to avoid massive IRS penalties is by filing IRS Tax Extension Form 8868. Amidst all this deadline chaos don’t forget about your tax-exempt organization.

You Need to Know the Best Way To Avoid Massive IRS Penalties 

Depending on your organization’s tax year Form 990 is due tomorrow, on February 15th. Rushing to make this deadline could definitely ruin your Valentine’s day, but luckily we know how you can get more time to file. Simply use extension Form 8868.

Use Form 8868 to avoid massive penalties

Is Your Form 990 Due This Month?
Your Form 990 may be due this month depending on your tax year because the deadline is 5 months and 15 days after your tax year ends. For example, if you operate on a calendar tax year, meaning your tax year ends in December, then your deadline is on May 15th.

However, if you operate on a fiscal tax year, that ends in any month besides December then your deadline may vary. For example, if your tax year ended in September then your deadline is February 15th.

I Need More Time!
If you need more time to file, ExpressExtension has your back. You can use our quick and easy e-filing guide to instantly file Form 8886, the Exempt Organization Tax Extension Form! It’s no hassle at all, simply follow our step-by-step instructions to transmit this form directly to the IRS.

Simply by filing extension Form 8868 by your original Form 990 deadline, you will receive an automatic 6-month extension of time to file. Wow, just think about all the free time you’ll have an extra 6 months.

In order to complete Form 8868 and avoid massive IRS penalties, you need your organization’s name, address, EIN/Tax-ID, tax year period, and what type of 990 Form you usually file. As long as this information matches what the IRS has on file, you’re good to go!

ladies filed IRS form 8868
Your organization can avoid massive tax penalties too! 

If You’re Ready to Avoid Massive IRS Penalties, File Today
If you don’t need more time to avoid IRS penalties, then go ahead and knock out your Form 990 with the help of our sister product, TaxBandits. All you have to do is create your free account then follow the simple interview style guide to complete your form online in a matter of minutes.

This innovative program explains exactly what information is required to complete your form where you need to enter it so you can get your form sent directly to the IRS. This way you won’t have to worry about any more deadlines and will successfully avoid Form 990 penalties.

Avoid IRS Form 990 Penalties 
If you fail to file Form 900 or Form 8868 by the deadline you will face major penalties depending on the size of your organization.

If your gross receipts are less than $1,000,000 for the tax year you will be fined $20 per day with a maximum penalty of $10,000 or 5% of your organization's gross receipts depending on which is amount is greater.

If your gross receipts exceed $1,000,000 the penalty increases to $100 per day with a maximum fee of $50,000.

But you can easily avoid these penalties by filing Form 990 by the deadline or by filing Form 8868 for an automatic extension. Simply contact the dedicated, US-based live ExpressExtension support team if you need any assistance.
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