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10/08/2014

4868 Tax Extension Deadline is October 15th

Form 4868 Extension Deadline
Can you guess what October 15th is? It's the Individual Income Tax Return extension deadline! If you filed Form 4868 through ExpressExtension.com to extend the amount of time to file your U.S. Individual Income Tax Return, you must file by October 15th.

To avoid late filing penalties and the chaotic last minute rush on the 15th, file sooner than later. Now would be the perfect time to file and then you won't have to worry about it any more. If you are not convinced that filing right now is the best thing to do and you are going to rely on your powers of remembrance, here are some great reminder tricks to help you out:

 1. Create a song to get stuck in your head that won't go away until you file. Try creating a tune for these lyrics -
 File, file, file my tax return
 I'll do it now while I have time to burn

2. Mark the deadline on your phone calendar. Then make a note for tomorrow's date that you file.

3. Know about the late filing penalties so you will be sure to avoid them. If you don't know what they are off the top of your head, don't you worry we're going to go over them right now...

Late Filing Penalties
I quote directly from the Form 4868 page on IRS.gov :

A Late filing penalty is usually charged if your return is filed after the due date (including extensions). The penalty is usually 5% of the amount due for each month or part of a month your return is late. The maximum penalty is 25%. If your return is more than 60 days late, the minimum penalty is $135 or the balance of the tax due on your return, whichever is smaller. You might not owe the penalty if you have a reasonable explanation for filing late. Do not attach the statement to Form 4868. 

If you have any questions, give the ExpressExtension team a call at 803.514.5155. You can also reach them 24/7 via email: support@expressextension.com 
                     

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