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4/29/2013

Tax Extension For Non-Profit/Exempt Organizations Deadline May 15th


Individuals and businesses are not the only ones that can receive a tax extension from the IRS.  After all, there are other types of organizations that could benefit from filing a tax extension.  Non-Profit and Exempt Organizations can also file tax extensions with the IRS by Filing Form 8868.  Unlike the process of filing a personal or business tax return, the Form 8868 has 2 separate parts.  

The First Part of a Non-Profit Tax Extension is an Automatic 3 Month Extension of Time to File.  Unless a Non-Profit Organization files a Form 990-T, the first part will only extend the deadline by 3 months.  (990-T extends the deadline for 6 months)

The Second Part of this form is an additional 3 month tax extension.  This additional extension can only be filed if the organization has already been granted the first 3 month extension.  

The easiest and safest way to file this form is the same as for anything else being sent to the IRS: E-File.  The Internal Revenue Service prefers the E-File method and have often referred to it as  ”Safer than paper filing”.  Some people speculate that it will not be too long before the IRS requires that all documents be processed using E-File.  

With ExpressExtension, you can E-File your Form 8868 for Non-Profit or Exempt Organization Tax Extension within minutes.  So there is no reason to miss that May 15th deadline.

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!
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4/26/2013

Use ExpressExtension To File Your State Tax Extension


 
In addition to E-Filing Federal Tax Extensions, you can also E-File State Tax Extensions with ExpressExtension.  Once your Federal Tax Extension has been filed, you can choose “State Extension” from the dashboard.

ExpressExtension currently offers state extensions for California, Florida, Michigan and North Carolina.  For all others states, we offer detailed information on how to file your state extension.

This video walks you through the process of E-Filing your State Tax Extension.  If you have any questions about filing Tax Extensions, you can contact 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. 

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4/24/2013

Income Tax Extension

An IRS Income Tax Extension can be filed by any individual, business, or exempt organization needing additional time to file their Federal Income Tax Return. A Tax Extension can extend the filing deadline by up to 6 months depending on the specific type of tax extension that is filed.

Anyone can file an Income Tax Extension with the IRS.
  • A Personal Tax Extension can be filed with IRS Form 4868 for Individuals, 1099 Contractors, Sole Proprietors, and Single Member LLCs to get a 6 month extension of time to file
  • A Business Tax Extension can be filed with IRS Form 7004 for Multi Member LLCs, C-Corporations, S-Corporations, Partnerships, Trusts, and Estates, to name a few
  • NonProfit Tax Extensions can be filed with IRS Form 8868 for NonProfit & Exempt Organizations

The Deadline to File an Income Tax Extension depends on which form you need to file.
  • The deadline for most Corporate tax returns(Form 7004) was March 15.
  • The deadline for Personal Tax returns(Form 4868) was April 15.
  • For Non-Profit or other Exempt Organizations(Form 8868), the traditional Filing deadline is May 15th

The biggest difference between E-Filing and Paper Filing is IRS Acknowledgement. When a Tax Extension is E-Filed through ExpressExtension.com, you will receive an acknowledgement of the IRS acceptance or rejection of your extension. If your request is denied, you will be notified of the reason it was rejected. This gives you an opportunity to correct the errors & resubmit for no additional costs through ExpressExtension.com

Typically it takes just a few minutes for the IRS to electronically process your form.

The process is not as simple when you file by paper. Paper Filings are at the mercy of the post office, and once it is received by the IRS there is nothing to let you know if it has been accepted or even received by IRS.

With ExpressExtension, you can E-File these forms within minutes.  If you have any questions about filing Tax Extensions, you can call or chat online with the Express Tax Support Center in Rock Hill, SC at 803-514-5155 during our regular business hours of 8am – 6pm EST, Monday through Friday or email us at support@ExpressExtension.com.  We have Spanish Support too!

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4/22/2013

E-File Tax Extensions with ExpressExtension

Tax Extensions can be E-Filed in a matter of minutes when you use ExpressExtension.com. All you need to complete a tax extension is a basic understanding of your business information and an estimated tax liability for the year.


ExpressExtension currently supports:

  • Form 7004 - Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns due by March 15 for a 6 month tax extension.  
  • Form 4868  - Application for Automatic Extension of Time To File U.S. Individual Income Tax Return due by April 15 for a 6 month tax extension.
  • Form 8868 - Application for Extension of Time To File an Exempt Organization Return due by May 15 for a 3 month extension.

These tax forms can be submitted through ExpressExtension, anywhere, anytime within minutes. With ExpressExtension the IRS sends an automated message accepting the tax extension as soon as the return has been submitted, provided the information submitted is consistent with what the IRS has on file. So there is no need to wait around for the IRS to accept the extension.

ExpressExtension offers affordable pricing options and top notch customer support. If you have any questions about the E-Filing process of Tax Extensions, you can contact 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!
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4/19/2013

Avoid Late Tax Payment Penalties


There is a difference between failing to file your taxes on time and failing to pay your taxes on time.  The law provides that the IRS can assess a penalty on either or both instances, should they occur.

Failure-to-file occurs if you did not file by the tax deadline.  

  • This penalty is generally 5% of the unpaid taxes for each month or part of month it is late, up to 25% of your unpaid tax.
  • If the return is more than 60 days lates, the minimum penalty is $135 or 100% of the unpaid tax, whichever is smaller.

Failure-to-pay occurs if you did not pay by the due date.  Filing a Tax Extension only extends the amount of time to file, NOT to pay any tax due.

  • Generally there is a penalty of  ½ to 1% of your unpaid taxes for each month or part of month after the due date that your taxes are not paid, up to 25% of unpaid taxes.
  • If you filed a Tax Extension and paid at lead 90% of your tax due by the original due date and pay the remaining balance by the extended due date, you will not incur a failure-to-pay penalty.

If both penalties apply in any month, the 5% failure-to-file penalty is reduced by the failure-to-pay penalty; unless your return is more than 60 days late.  The minimum penalty will be $135 or 100% of the unpaid tax, whichever is smaller. If you can show reasonable cause for filing or paying late, the penalties may be waived.

If you failed to file your return and/or Form 4868 for an extension, you will want get your return filed and pay any taxes due as soon as possible to avoid further penalties as stated above.

ExpressExtension is an authorized IRS E-File provider and while we do not give tax advice, we do want to make our customers aware of of situations that may affect you during tax season.  Please contact a tax professional for tax advice and questions pertaining to tax laws.

If you have any questions about filing Tax Extensions, you can contact 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.
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4/17/2013

IRS Form 8868: Exempt Organization Extension

The deadline to file your Exempt or Non-Profit Organization return is less than a month away.  If you need more time to prepare your tax return you can use Form 8868, officially called an Application for Extension of Time to File an Exempt Organization Return, to file an extension. The deadline to file an Exempt Organization Tax Extension is May 15, 2013. If you don’t think you’ll be able to hit that May 15th deadline, you can E-File Form 8868 at ExpressExtension.com. The IRS will grant you an extra three months to file.


Please note: IRS Form 8868 does not extend the time for payment of tax. Generally, payment of any balance due according to IRS Form 8868 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!
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4/16/2013

Boston-Area Tax Deadline Extended by IRS

The IRS issued the following statement yesterday, in the midst of the Boston Marathon tragedy:

Our hearts go out to those affected by the terrible tragedy. Boston-area taxpayers need time to finish their tax returns without worry. The IRS will be providing individual tax filing and payment extensions. Details will be announced tomorrow, Tuesday, April 16.

Check the IRS website for updates.

ExpressExtension is deeply saddened by the events that occurred and are keeping those affected in our thoughts and prayers.
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4/15/2013

Today Is The Individual Tax Return Deadline


April 15, 2013 is the deadline to file Individual or Personal Tax Returns.  That day is today!  If the deadline snuck up on you and you are not ready to file your return today, there is no need to panic.  At ExpressExtension, you can E-File Form 4868 within minutes, giving you an additional 5 or 6 months to prepare your return.  Please note: IRS Form 4868 does not extend the time for payment of tax. Generally, payment of any balance due according to IRS Form 4868 is required by the due date of the return for which this extension is filed.

ExpressExtension is the safest, fastest, most efficient, and most affordable way to file a tax extension with the IRS and our top notch Express Tax Support Center will have extended customer service hours today to assist those last minute filers.  Do not risk steep fines and penalties for filing a late return.

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. We have Spanish Support, too!
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4/12/2013

Need to File a Personal Tax Extension?

The Personal or Individual Tax filing deadline is this Monday, April 15, 2013.  Need more time?  No problem, you can E-File Form 4868 within minutes, using ExpressExtension.

Form 4868– Application for Automatic Extension of Time To File U.S. Individual Income Tax Return,” will automatically extend the filing deadline for six (6) months.  E-File your Personal Tax Return today with ExpressExtension and avoid IRS late filing penalties.

Please note: IRS Form 4868 does not extend the time for payment of tax. Generally, payment of any balance due according to IRS Form 4868 is required by the due date of the return for which this extension is filed. Do not let the deadline sneak up on you, file your extension today!

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!
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