Blog

12/31/2013

Tax Filing Season Opens Jan 13th for Businesses, Jan 31st for Individuals


The IRS announced that the start date for the 2014 filing season for 2013 Taxes. Beginning January 13, 2014, business tax filers can file their 2013 tax returns. The forms include: Form 1120 filed by corporations, Form 1120S filed by S corporations, Form 1065 filed by partnerships and Form 1041, the return filed by estates and trusts. It also includes various excise and payroll tax returns, such as Form 720,Form 940, Form 941 and Form 2290.  


The normal deadline to file business tax returns is March 15th.  Need more time?  Use ExpressExtension to E-File IRS Form 7004, officially known as the “Form 7004 – Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns,” is a request for an automatic extension of time to file certain business tax returns, for additional time.


The start date for filers is not until January 31, 2014 with the deadline of April 15th. E-File Form 4868, officially called an Application for Automatic Extension of Time to File U.S. Individual Income Tax Return and the IRS will grant you an extra six months to file; making your new deadline October 15.


If you have any questions about filing Tax Extensions, you can call, email or chat online with the Express Tax Support Center in Rock Hill, SC at 803-514-5155 between the hours of 8am – 6pm EST, Monday through Friday or email support@ExpressExtension.com.  We have Spanish Support too!
Read More »

12/30/2013

ExpressExtension New Year’s Hours


ExpressExtension hopes you are having a wonderful holiday season so far.

Our New Year’s office hours:

Tuesday, December 31st-8am-3pm chat and email support
Wednesday, January 1st-Closed New Year’s Day-Happy New Year!
Thursday, January 2nd- Normal business hours resume

ExpressExtension thanks you for your business.  We wish you a very happy and safe New Year!
Read More »

12/27/2013

Why E-File Tax Extesnions With ExpressExtension?


As preparations begin for this year’s tax season, many businesses and individuals meet this year with stress and haste. But it doesn’t have to be that way! Each year, an increasing amount of forward thinking individuals are filing Tax Extensions with the IRS.  There are many different ways to file, but there is none simpler than ExpressExtension.

ExpressExtension services to include the following:
*Business Tax Extensions – IRS Form 7004
*Personal Tax Extensions – IRS Form 4868
*Non-Profit Tax Extensions – IRS Form 8868

Although the IRS does not require a reason for filing a Tax Extension, there are many reasons that ExpressExtension may be beneficial.

  1. ExpressExtension is an IRS authorized E-File Provider. ExpressExtension is IRS authorized, safe, secure and encrypted. The IRS has stated numerous times that E-Filing is the quickest and most secure way to file. ExpressExtension will send an email confirmation to the filing party as soon as the IRS processes the application.
  2. Many Accountants and Tax Professionals are much busier in the spring than they are in the Fall. Filing for a Tax Extension makes it easier to get a proper amount of time with a Tax Professional.
  3. Organizing all of the paperwork required for filing a tax return can be a daunting task. Extending the deadline for up to 6 months allows the taxpayer to organize all of their tax related documents so that they can better prepare returns and get the most credits and refunds as possible.
  4. Self Employed Individuals funding a SEP IRA will also benefit from a Tax Extension because the deadline for funding this type of account is the tax due date.

ExpressExtension is the safest, fastest, most efficient, and most affordable way to file a tax extension with the IRS. With prices starting at $9.95 and not exceeding $14.95, it is easily the best value of any Tax Extension Program on the market.

ExpressExtension will walk you through each step of the process in less than 10 minutes. Everything is spelled out in easy to read instructions, not confusing tax jargon. However, should you have any questions about E-Filing Tax Extensions, you can call, email or chat online with the Express Tax Support Center in Rock Hill, SC at 803-514-5155 between the hours of 8am – 6pm EST, Monday through Friday or email support@ExpressExtension.com.
Read More »

12/25/2013

Merry Christmas From ExpressExtension



We are closed today for Christmas, but will resume normal business hours tomorrow, Thursday, December 26th.

Merry Christmas from ExpressExtension!



Read More »

12/23/2013

Tax Extension Deadlines


Filing a Tax Extension with the IRS can delay your tax return deadline by up to 6 months.  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.

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 and is normally due by March 15, 2014. Since the 15th falls on a Saturday this year, the deadline will be Monday, March 17, 2014.

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 and is due by April 15, 2014.

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 and is due by May 15, 2014.

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 of any taxes due.  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.
If you have any questions about E-Filing Tax Extensions, you can call, email or chat online with the Express Tax Support Center in Rock Hill, SC at 803-514-5155 between the hours of 8am – 6pm EST, Monday through Friday or email support@ExpressExtension.com.
Read More »

12/20/2013

ExpressExtension Holiday Hours

Our Holiday office hours:
Tuesday, December 24th-8am-3pm chat and email support
Wednesday, December 25th-Closed for Christmas-Merry Christmas!
Thursday, December 26th- Normal business hours resume

Tuesday, December 31st-8am-3pm chat and email support
Wednesday, January 1st-Closed New Year’s Day-Happy New Year!
Thursday, January 2nd- Normal business hours resume

ExpressExtension thanks you for your business.  We wish you a very happy and safe holiday season!
Read More »

12/18/2013

IRS Penalties for Late Filing of Income Tax Return


Basics of IRS Penalties
IRS penalties and interest may be for a number of different occurrences. Some examples are: understating your tax liability, understating a reportable transaction, file an erroneous claim for a refund or credit, or file a frivolous tax submission. But the easiest way to receive a penalty is by filing late.  

When it comes to penalties and interest, the Internal Revenue Code may impose many different types of penalties. These can be as simple as a civil fine, or as harsh as imprisonment, depending on the particular scenario.

How IRS Penalties Are Calculated
Penalty for Filing Late:  If a return is not filed by the due date, you may have to pay a failure-to-file penalty.  This amount is typically 5% per month, but not greater than 25%. The penalty is based on the unpaid amount as of the due date.
Penalty for Paying Late:  The Failure-to-Pay Penalty of .5% of unpaid taxes per Month is incurred each month after taxes due are not paid.

NOTE: If there is no tax balance due (or you qualify for a refund) there will be no penalty for late filing.

Avoiding Penalties
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.

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 or business 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.
 
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 ExpressExtension.com is a simple online tool that can help you avoid late penalties by filing for an extension.  

If you have any questions about filing Tax Extensions, you can call, email or chat online with the Express Tax Support Center in Rock Hill, SC at 803-514-5155 between the hours of 8am – 6pm EST, Monday through Friday or email support@ExpressExtension.com.  We have Spanish Support too!
Read More »

12/16/2013

Non-Profit Extension Form 8868


Use Form 8868 , Application for Extension of Time To File an Exempt Organization Return, to request an automatic 3 month (6 month for Form 990-T filed by a corporation) extension of time to file any of the following returns:
  • Form 990 , Return of Organization Exempt from Income Tax
  • Form 990-EZ , Short Form Return of Organization Exempt from Income Tax
  • Form 990-PF , Return of Private Foundation
  • Form 990-T , Unrelated Business Income Tax Return
  • Form 1041-A , U.S. Information Return – Trust Accumulation of Charitable Amounts
  • Form 4720 , Return of Certain Excise Taxes on Charities and Other Persons under Chapter 41 and 42 of the Internal Revenue Code
  • Form 5227 , Split Interest Trust Information Return
  • Form 6069 , Return of Excise Tax on Excess Contributions to Black Lung Benefit Trust under Section 4953 and Computation of Section 192 Deduction
  • Form 8870 , Information Return for Transfers Associated with Certain Personal Benefit Contracts

If you have any questions about filing Tax Extensions, you can call, email or chat online with the Express Tax Support Center in Rock Hill, SC at 803-514-5155 between the hours of 8am – 6pm EST, Monday through Friday or email support@ExpressExtension.com.  We have Spanish Support too!

Read More »

12/13/2013

IRS Form 7004: Automatic Extension for Business Tax Returns


IRS Form 7004, officially known as the “Form 7004 – Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns,” is a request for an automatic extension of time to file certain business tax returns. The deadline to file a Business Tax Extension is March 15th. The extension will be granted by the IRS if the business:
1.     Complete IRS Form 7004 properly,
2.     Make a proper estimate of the tax (if applicable),
3.     File the form by the due date of the return to which the Form 7004 applies, 4.     Pay any tax that is due.

An IRS Form 7004 can be submitted to automatically extend the filing deadline for 32 different IRS returns. The IRS typically grants automatic extensions of five (5) or six (6) months, depending on the return for which the extension is filed. The eligible returns and length of automatic extensions are listed below:

Automatic 5-Month Extension:
Automatic 6-Month Extension:

Please note: IRS Form 7004 does not extend the time for payment of tax. Generally, payment of any balance due according to IRS Form 7004 is required by the due date of the return for which this extension is filed.

If you have any questions about filing Tax Extensions, you can call, email or chat online with the Express Tax Support Center in Rock Hill, SC at 803-514-5155 between the hours of 8am – 6pm EST, Monday through Friday or email support@ExpressExtension.com.  We have Spanish Support too!

Read More »

Watch
IRS Tax Extension

Support Center

Chat with us