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Archive for February, 2012

Reasons for Filing Income Tax Returns Late

February 29th, 2012
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Filing taxes after the deadline typically means that you will incur some pretty harsh penalties by the IRS.  However, Efile IRS Tax Extension forms with expressextension.comthere are a few situations in which the IRS does grant more time to file a tax return.

Out of Country:  Individuals who live and work out of the country automatically receive a two month extension without filing a Form 4868.  However, a return must be filed by October 15 at the latest.  This also applies to US military personnel working overseas.

Combat Zone:  In general, the deadlines for performing certain actions applicable to taxes are extended for the period of service in a combat zone, plus 180 days after the last day in the combat zone. This extension applies to the filing and paying of income taxes that would have been due April 15.

Reasonable Cause:  The IRS does also waive penalties for those individuals and businesses that had Reasonable Cause to not file or pay on time.  This is a more subjective reason to be reserved for the most extreme circumstances, and to be determined by the IRS.

Extend Your Deadline:  An individual, business, or nonprofit organization may elect to file for an extension of up to 6 months.  This is not an extension of time to pay, this is an extension of time to file the return itself.

An incredibly Simple way to file these Taxes online is through ExpressExtension.com.  This allows anyone to E-File the following Tax Extension Forms:

All that is needed to file this form is a basic knowledge of the business as well as its official tax status.  Most of this information can be found on a previous year’s tax return as long as that information has not changed.  Important data such as the official business type and also the specific IRS tax return type needs to be entered in this Form.  If you are unsure of this information, please check a previous return or a tax professional.

Obviously the best way to avoid penalties and interest is to simply file on time! However, sometimes this is easier said than done.  There are many different services available for use by individuals and businesses to extend filing deadlines.  www.ExpressExtension.com is a simple online tool that can help you avoid late penalties by filing for an extension.  Ironically, one of the easiest ways to incur a penalty is also very easy to avoid.

ExpressExtension.com: New Features (IRS Form 7004 Tax Extension)

February 28th, 2012
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The folks at ExpressExtension are always coming up with new ways to make Tax Extensions easier. ExpressExtension isE-file Federal Tax Extension forms for just $9.95 with expressextension.com already the easiest way to file a Tax Extension with the IRS.  All that is needed is an Internet connection, and tax extensions can be E-Filed online for Businesses, Individuals, and Nonprofit organizations.

In previous years, it was necessary that someone create an account with ExpressExtension in order to file a Tax Extension through the service.  It does not cost anything to have an account with ExpressExtension. The only costs are incurred when the E-Filing is actually performed.

This year it is even easier to E-File a Tax Extension because it is no longer required to sign-up for an account with ExpressExtension. Instead, users can sign up using Google or Facebook.  This allows anyone using ExpressExtension to simply sign-in or sign-up using their Gmail or Facebook credentials.

This step can help save time when accessing information within ExpressExtension.  Once inside, the program is self-guided and very user friendly.  ExpressExtension can be used to file tax extensions for businesses, individuals, and nonprofit organizations. Instead of using a complicated tax form from the IRS, ExpressExtension has broken it down into a series of simple questions that are easy to answer.

Businesses in particular can benefit from filing an IRS Form 7004 for a Business Tax Extension because the traditional filing deadline for businesses is March 15th. Individuals can also use ExpressExtension to File an IRS Form 4868 for a Personal Tax Extension by the traditional deadline for personal returns. Typically the deadline for individual tax returns is April 15th, however, this year the deadline is April 17th due to the fact that the 15th falls on a weekend and the 16th is Emancipation Day. Nonprofit organizations can also use ExpressExtension to E-File the IRS Form 8868 to qualify for a 3 month extension. This form can be filed again for an additional 3 month extension.

If you have any questions about Tax Extensions or would like to know more about what ExpressExtension can do for you, do not hesitate to contact the Tax Extension Team.  ExpressExtension prides itself on its quality customer support.  The team is available Monday through Friday from 8am until 6pm EST for live phone and chat support.  We also offer email support around the clock.  Contact the team at 803.514.5155 or send an email to support@ExpressExtension.com if you have any questions about tax extensions or how to file them.

How To E-file a Tax Extension Online?

February 27th, 2012
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Filing a Tax Extension with the IRS may sound complicated, but it has become an incredibly simple process to e-file Tax E-file IRS Tax Extension form for just $9.95 with expressextension.comExtensions online.  ExpressExtension.com is an IRS-Authorized E-File Provider for Tax Extensions.  Make it simple to instantly E-File Tax Extensions with the IRS using Form 7004 for Business Tax Extensions, Form 4868 for Personal Tax Extensions, and Form 8868 for Nonprofit Tax Extensions.

Because of the complexity of tax laws, it can be very helpful to have a CPA or other type of tax professional help with your tax filing. However, many CPAs and tax professionals become incredibly busy during the traditional filing season. Due to this work overload, many CPAs find it beneficial to have their clients file Tax Extensions.

All that is needed to file the return is a basic understanding of your business or filing status, as well as your Social Security Number and Employer Identification Number (EIN) if you are filing a business extension.  The entire process takes only about 15 minutes.  The IRS also requires an estimated tax liability.  Since a tax extension is an extension of time to file the return, and not to pay the return; the IRS will still expect the full tax payment on the traditional deadline.

Business Tax Extensions must be filed by the traditional March 15th deadline this year. The deadline to file personal tax returns with the IRS for the 2012 Tax Season has been extended to Tuesday, April 17, 2012. The traditional deadline of April 15 falls on a Sunday this year; since April 15th falls on a weekend, the official deadline had to be changed.  It could not be the following Monday (April 16) either due to the fact that April 16th is Emancipation Day.  Emancipation Day is considered to be a holiday for the District of Columbia, and Federal Law declares that agencies such as the IRS must observe such holidays of the District of Columbia.

The wonderful thing about e-filing these tax extensions is that they can be filed from your home or office. All you need is an internet connection. Express Extension lives up to its name in terms of speed; once a return is submitted, it is typically accepted within minutes of filing. If you have any questions about filing Tax Extensions, you can contact the Tax Extension Experts from their US based Customer Support Center in Rock Hill, SC at 803-514-5155 or send an email to support@ExpressExtension.com. They offer live support between the hours of 8am – 6pm EST, Monday through Friday.

What you need to know about Tax Extensions?

February 25th, 2012
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Filing a Tax Extension is very easy to do when you use ExpressExtension.com.  All that is needed to file this is a basic E-file IRS Tax Extension Forms with Expressextension.com for just $9.95knowledge of your business.  Here is a recap of what the IRS requires to submit a Tax Extension for a Business, Individual, or Nonprofit Organization.

IRS Form 7004:  This form is used by businesses such as Multi-Member LLCs, C Corporations, S Corporations, Partnerships, Trusts, and Estates.  This is commonly referred to as a form for Business Tax Extensions.  This IRS Form gives a Tax Extension of 5 – 6 months.

IRS Form 4868:  This IRS form is used for filing Individual or Personal Tax Extensions.  This can be used to extend the tax deadline by 6 months for personal returns, 1099 Contractors, Sole Proprietorships, and Single-Member LLCs.

IRS Form 8868:  Non-Profit and Exempt Organizations can use the Form 8868 to apply for an automatic 3 month tax extension or a non-automatic additional 3 month extension.

Tax Extensions:  Filing a Tax Extension with the IRS extends the amount of time to file a Tax Return.  It does not extend the amount of time to pay taxes.  The IRS will still expect a tax payment to be made by the traditional filing deadlines, but the tax return itself is not required until the extended deadline.

Filing Status:  If you are filing a business or nonprofit tax extension, it is required to list your business or organization type and the specific tax return form that will be filed.  Likewise, if a person is filing an individual tax extension, it is required to list your filing status (married filing jointly, single, married filing separately, etc.)

Business Tax Year:  Although it is common to use the calendar year as the business tax year, that is not always the case.  If a business follows a different tax period, that will need to be specified.  Also if a business was started or ended during the year, its tax period may be shorter than a full year.

Estimated Tax Amount:  A Tax Extension extends the amount of time to file a tax return.  It does not extend the amount of time to pay taxes.  Therefore, the IRS will still expect the full tax payment at the traditional deadline.

If you have any questions about filing Tax Extensions, you can contact the Tax Extension Experts from their US-based Customer Support Center at 803-514-5155 or send an email to support@ExpressExtension.com. They also offer online chat support during their live support hours from 8am – 6pm EST.

What you need to E-File a Tax Extension for your business (IRS Form 7004)?

February 24th, 2012
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The IRS Form 7004 is the official document that businesses can file in order to receive an additional 5 to 6 months to fileEfile IRS Tax Extension Form for just $9.95 with www.Expressextension.com a tax return. This form can be used by many different business types such as: Multi-Member LLCs, C-Corporations, S-Corporations, Partnerships, Trusts, and Estates.

The quickest method of filing this form is by using ExpressExtension.com. The IRS has authorized ExpressExtension as an official E-File Provider for Forms 7004, 4868, & 8868. The E-File option for this form allows businesses to easily file this form in minutes from anywhere.

All that is needed to file this form is a basic knowledge of the business as well as its official tax status. Most of this information can be found on a previous year’s tax return as long as that information has not changed. Important data such as the official business type and also the specific IRS tax return type needs to be entered in this Form. If you are unsure of this information, please check a previous return or a tax professional.

An estimation of taxes is also required.  A Tax Extension only extends the amount of time to file a tax return with the IRS, not the tax payment itself. The IRS will still expect the full tax payment to be made by the traditional deadline. The tax estimation must also be accurate. The IRS may impose harsh penalties if the tax payment is significantly less than the actual amount due according to the final return.

When E-Filing this tax extension through Express Extension, there is an option to pay the estimated tax amount online through an Electronic Funds Withdrawal, or EFTPS (Electronic Federal Tax Payment System). Businesses are required to pay all of the taxes up front. The IRS will impose penalties and Interest on any business that pays less than the estimated tax amount.

ExpressExtension can also be used to file Personal Tax Extensions with Form 4868, and Non-Profit Tax Extensions with Form 8868. Express Extension lives up to its name in terms of speed; once a return is submitted, it is typically accepted within minutes of filing.

If you have any questions about filing Tax Extensions, you can contact the Tax Extension Experts from their US-based Customer Support Center at 803-514-5155 or send an email to support@ExpressExtension.com. They also offer online chat support during their live support hours from 8am – 6pm EST.

More Tips for Filing a Tax Extension (Federal Income Tax Return filing Extended)

February 23rd, 2012
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Although filing a Tax Extension with ExpressExtension.com is typically a very quick process, one must be familiar with E-file IRS Tax Extension Forms for just $9.95 with Expressextension.comall the general information about their business in order to file any type of tax extension. There are different types of Tax Extensions that the IRS offers, and each is different. The IRS form 7004 is used for businesses to file tax extensions. The IRS Form 4868 is used for individuals to file personal tax extensions.

A common question that businesses may have is in regard to different types of LLCs.  When filing a business Tax Extension, it is necessary to know what type of LLC the business is. There are 3 primary types: Single Member LLC, Multi Member LLC, and Multi Member LLC (setup as a corporation).  A Single Member LLC would not need to file a Business Tax Extension, because its information would be included in its personal tax return. The two types of Multi Member LLCs are different in that one is incorporated, while the other is not. A standard LLC is not incorporated unless it has gone through the additional requirements and processes to become a corporation.

There are also small differences between different Corporation Types.  C Corporations and S Corporations have some similarities and differences, but it is important to know the differences and your specific type when filing a tax return.  The primary difference between C Corporations and S Corporations is that C Corps, which are standard corporations, are separately taxable entities. S Corporations are considered to be pass-through entities in which the profits and losses are passed through to the owners’ tax returns.

An IRS tax extension is meant to extend the amount of time that a person has to file a return.  It does not extend the amount of time to pay the taxes due. The IRS will still expect to receive the estimated tax amount upon the deadline.  Businesses are required to pay the full tax amount at the due date.  Individuals, however, are allowed to pay less than the total amount due. An installment plan can be setup with the IRS, and/ or penalties and interest depending on the exact situation.  Please consult with the IRS directly in this type of situation.

For any questions regarding the process to E-File a Tax Extension, the customer support staff at ExpressExtension would be glad to speak to you either by live chat, email, or phone support.

IRS Tax Extension Tips for 2012 (Federal Tax Form 7004, Form 4868 & Form 8868)

February 22nd, 2012
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When filing a Tax Extension for your personal, business, or nonprofit return the simplest way to file this with the IRS is Efile IRS Tax Extension Forms with Expressextension.comby E-Filing this.  The IRS has authorized ExpressExtension.com as an official E-File provider for Personal Tax Extensions with IRS Form 4868, Business Tax Extensions with IRS Form 7004, and Nonprofit Tax Extensions with IRS form 8868.

There are many misconceptions about filing for tax extensions.  One example is that it is not necessary to provide a reason to file for a tax extension.  All the IRS requires is that the taxes are paid on time and the extension form is filed before the deadline.  This brings up another misconception: filing a tax extension only extends the deadline for a tax return itself.  It does not extend the amount of time to pay the taxes.

The great thing about ExpressExtension is that instead of having to file an enormous and confusing IRS Form, they have broken it down into a series of simple questions.  There is no complicated tax jargon, and you do not need to be a tax professional to understand how the process works.  Just enter all the basic information that is requested.  As long as you know basic information about yourself, and your filing status you can E-File this return online in a matter of minutes.

A Business Tax Extension must be filed by March 15 this year, and once they are processed by the IRS, you will be granted an automatic 5 or 6 month tax extension. The exact length of time that your tax deadline is extended depends on your business type.  The Form 7004, otherwise known as a Business Tax Extension can be used by Multi-Member LLCs, C-Corporations, S-Corporations, Partnerships, Trusts and Estates. Certain Partnerships, Trusts, and Estates are only able to apply for a tax extension of 5 months instead of the 6 month extension; this is determined by which tax form they would be filing for their return.

Individuals can file a tax extension for a personal tax return using ExpressExtension.com  for only $12.95.  Individuals, Contractors, Single Member LLCs, and Sole Proprietors may file the IRS Form 4868 for an automatic 6 month tax extension.  The deadline for this form is April 15.

Non Profit Organizations can file for a tax extension for less than ten dollars.  In order to file an IRS Form 8868 for a Non-Profit Organization 3 Month Tax Extension, the price is just $9.95.  Since the Non-Profit Tax Extensions are only 3 months, it is possible to E-File for an additional 3 months through Express Extension after the first extension has expired. This Form is typically used by Non-Profit Organizations, and Exempt Organizations.

E-File Federal Tax Extension Form 7004 for your Business Tax Extension

February 21st, 2012
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Tax Season is here, but it does not have to affect your business if you are not quite ready to file your return.  A Tax E-file IRS Tax Extension Forms with Expressextension.comExtension can be E-Filed for businesses that need additional time to file their tax return. This can take hours of valuable company time if you perform this in house or hire a tax professional.  If you put forth a considerable amount of time and effort into preparing your tax returns for your business during this time of year, you can easily put that off for up to 6 months by filing an IRS Form 7004 for a Business Tax Extension.

A Business Tax Extension must be filed by March 15 this year, and once they are processed by the IRS, you will be granted an automatic 5 or 6 month tax extension. The exact length of time that your tax deadline is extended depends on your business type.  The Form 7004, otherwise known as a Business Tax Extension can be used by Multi-Member LLCs, C-Corporations, S-Corporations, Partnerships, Trusts and Estates. Certain Partnerships, Trusts, and Estates are only able to apply for a tax extension of 5 months instead of the 6 month extension; this is determined by which tax form they would be filing for their return.

The best way to process this form is through www.ExpressExtension.com.  Express Extension is an IRS Authorized e-file provider. The process of filing a Tax Extension through this program is incredibly simple and easy to understand.  Instead of using confusing tax jargon, Express Extension takes the IRS Form 7004 and breaks it down into a series of simple questions. All you need to file this return online is basic information about your business, as well as your Tax-ID / EIN (Employee Identification Number).

It is important to remember that filing this form does not mean that taxes do not need to be paid for 5-6 months. Taxes will still be due on the traditional deadline, but the tax return does not need to be organized and submitted until the later deadline. This allows for more time to organize all the necessary paperwork and it also gives you and your accountant more time to make sure that you get the most out of your credits or refunds.

Another helpful tip that many people do not realize is that you do not have to provide a reason to file a Tax Extension with the IRS.  Unlike other IRS forms that may require a reason to file, a tax extension may be filed by anyone, no matter what the reasoning may be.

This can also be used to file Personal Tax Extensions with Form 4868, and Non-Profit Tax Extensions with Form 8868. Express Extension lives up to its name in terms of speed; once a return is submitted, it is typically accepted within minutes of filing.  If you have any questions about filing Tax Extensions, you can contact the Tax Extension Experts from their US-based Customer Support Center at 803-514-5155 or send an email to support@ExpressExtension.com. They also offer online chat support during their live support hours are from 8am – 6pm EST.

How To E-File a Tax Extension using ExpressExtension.com

February 20th, 2012
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In order to get a Tax Extension as quickly as possible, the easiest way to do that is by using ExpressExtension.com  This E-file IRS Form 7004 with Expressextension.com and get Tax Extensionprogram is very helpful because it makes the process of filing a Tax Extension very simple and easy to understand.  This can be used to file tax extensions for businesses (IRS Form 7004), nonprofit organizations (IRS Form 8868), and personal returns (IRS Form 4868).

The great thing about ExpressExtension is that instead of having to file an enormous and confusing IRS Form, they have broken it down into a series of simple questions.  There is no complicated tax jargon, and you do not need to be a tax professional to understand how the process works.  Just enter all the basic information that is requested.  As long as you know basic information about yourself, and your filing status you can E-File this return online in a matter of minutes.

ExpressExtension.com is also one of the quickest methods to e-file this because the entire process can easily take less than 15 minutes.  Once the form is complete, you can E-File it with the IRS instantly.  Once a form has been electronically submitted to the IRS, it is typically accepted within 15 minutes of filing.

To use ExpressExtension.com you can sign up for a free account from the home page.  After signing up, you can select the type of return you are filing.  You can enter your business information or personal information depending on the type of return you are filing.

NOTE:  Filing a Tax Extension does not mean that taxes will not be due.  This simply means that the tax return itself does not need to be filed until the later deadline.  The IRS still expects full tax payment as of the traditional deadlines.  If you are expecting any credits or refunds, you can use the extended time to organize the appropriate paperwork in order to maximize your refunds or credits.

One of the most unique things about using ExpressExtension is their commitment to quality customer support.  You can contact the Tax Extension Team throughout the filing process if you have any questions about the program.  The team is available from 9am-6pm EST Monday through Friday.  You can call them at 803-514-5155, email them using support@ExpressExtension.com, or chat with them online through the online chat feature at ExpressExtension.com.

Tax Extension Information

February 17th, 2012
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Filing a Tax Extension with the IRS can delay your tax return deadline by up to 6 months.  The IRS is now accepting this E-file IRS Form 7004 with Expressextension.com and get tax extensiononline through E-Filing.  There are several forms that can be filed for this.  The IRS Form 7004 can be filed for businesses wishing to extend their tax return deadline.  For individuals that need a tax extension, they can use the Form 4868 for a 6 month extension.  Non Profit organizations are not exempt from being able to file this form either.  Nonprofits can file the Form 8868 for an automatic 3 month extension, followed by an additional 3 month extension if needed.

Filing a tax extension can be very helpful to those with very complicated tax returns.  The additional time to file the return can give taxpayers and tax preparers more time to prepare the return. This allows for better attention to be paid to the little details of each return so that you may get the most out of your credits or refunds.

Filing a Tax Extension does not mean that taxes will not be due.  This simply means that the tax return itself does not need to be filed until the later deadline.  The IRS still expects full tax payment as of the traditional deadlines.  If you are expecting any credits or refunds, you can use the extended time to organize the appropriate paperwork in order to maximize your refunds or credits.

The great advantage of E-Filing this form is the speed at which the return can be accepted.  Once the form is submitted through ExpressExtension.com it is typically accepted within minutes of filing.  If you are incredibly close to the deadline, this helps ease concern of late penalties.  Instead of waiting on the postal mail to deliver this form, or driving to the IRS office itself, it can be stress relieving to submit this form directly from your home or office.

Filing this form online can be done through ExpressExtension.com one of the greatest things about filing with Express Extension is their dedication to quality customer support. If you have any questions about the filing process or would like a little help along the way, you can call, email or chat online with their Tax Extension team anytime from their US-Based Customer Support Center in Rock Hill, South Carolina. You can email the team at support@expressextension.com or chat with them online from the website: ExpressExtension.com  Overall, it is hard to go wrong with an easy-to-use system, a helpful team along the way, and affordable pricing options.