Blog

5/30/2013

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 »

5/27/2013

IRS Form 4868: Automatic Extension for Individual Tax Returns


A personal tax extension uses Form 4868, officially called an Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. The deadline to file a Personal Tax Extension is April 15th. By E-Filing Form 4868, the IRS will grant you an extra six months to file making your new deadline will be October 15.

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.

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 »

5/23/2013

IRS To Be Closed Tomorrow, May 24th


The IRS will be closed on tomorrow May 24th, as well as June 14, July 5, July 22 and Aug. 30, 2013 due to the current budget situation. Filing and payment deadlines will NOT be affected, so you will want to take these dates into account as advised by the IRS:
Due to the current budget situation, including the sequester, all IRS operations will be closed on those days. This means that all IRS offices, including all toll-free hotlines, the Taxpayer Advocate Service and the agency’s nearly 400 taxpayer assistance centers nationwide, will be closed on those days. IRS employees will be furloughed without pay. No tax returns will be processed and no compliance-related activities will take place.
The IRS noted that taxpayers should continue to file their returns and pay any taxes due as usual.
Taxpayers needing to contact the IRS about their returns or payments should be sure to take these furlough dates into account. In some instances, this may include taxpayers with returns or payments due soon after a furlough day, such as the June 17 deadline for taxpayers abroad and those making a second-quarter estimated tax payment as well as the Sept. 3 deadline for truckers filing a highway use tax return.

For full details see the IRS notice.

ExpressExtension works to help you stay informed of situations that may affect you. For more information, contact us at ExpressExtension, email support@ExpressExtension.com or call 803.514.5155.


Read More »

5/20/2013

Basics of IRS Penalties for Late Filing of Income Tax Return

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 »

5/15/2013

Today Is The Individual Tax Return Deadline


May 15, 2013 is the deadline to file Exempt or Non-Profit Organization 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 8868 within minutes, to request an automatic 3 month (6 month for Form 990-T filed by a corporation) to prepare your return.  

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.

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. You can even F-File from your phone at http://m.expressextension.com/.

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!
Read More »

5/14/2013

Don’t Miss Tomorrow’s Deadline: E-File Form 8868 Today


Reminder that tomorrow is the deadline to file your Exempt or Non-Profit Organization Tax Return.  If are unable to file on time, you can file an extension of time to file by E-Filing Form 8868 within minutes, using ExpressExtension.

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 your return for Exempt or Non-Profit Organizations.

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.  While our normal business hours are 8am – 6pm EST, Monday through Friday, we will have extended hours tomorrow, to assist those last minute filers. You can always email support@ExpressExtension.com.   And we have Spanish Support too!
Read More »

5/13/2013

IRS Form 8868: Tax-Exempt Organization Extension Deadline is May 15th to Preserve Tax-Exempt Status


You have 2 days left to file your Exempt or Non-Profit Organization return.  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, doe organizations who use the calendar year as their fiscal year, 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: The Pension Protection Act of 2006 mandates that organizations failing to file report for 3 consecutive years their federal tax-exempt status automatically revoked. 

For full details see the IRS Release.

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 »

5/10/2013

Get More Time to File A Non-Profit Tax Return Using 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

The deadline to file a Non-Profit Tax Extension is May 15, 2013. 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 »

5/08/2013

One Week Left to E-File Non-Profit and Exempt Organization Tax Extension


Reminder, next Wednesday, May 15, 2013 is the deadline to E-File Form 8868– Application for Extension of Time To File an Exempt Organization Return.”  That’s one week from today!

You can E-File Form 8868 in minutes using ExpressExtension.  ExpressExtension is the safest, fastest, most efficient, and most affordable way to file a tax extension with the IRS. With its streamlined design and user-friendly system, 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.

Part 1 of Form 8868  provides an automatic 3 month extension of time to file for Exempt Organizations. Once this 3 month extension has been filed, the filing party may also file Part 2 of this IRS Form 8868 . The second part of this form is referred to as a Non-Automatic Additional 3 Month Extension. This obviously provides an additional 3 months of time to file, but can only be filed if Part 1 has already been filed and accepted.

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