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How To Use Extension Form 8868 For Your Advantage

Meeting deadlines, especially during the busy summer months, can be quite the challenge. If you need additional time to file your organization’s Form 990 online by today’s July Form 990 deadline, you will want to file a tax extension to avoid IRS penalties. The IRS provides extension Form 8868 for tax-exempt organizations to help you keep your exempt status; here is how to use Extension Form 8868 for your advantage.

How To Use Extension Form 8868 For Your Advantage

Form 8868 is an extension form used by charities, nonprofit groups, and other tax-exempt organizations to receive an additional 6 months to file their 990 return. In order to be granted this extension, your tax-exempt organization must file a Form 8868 by the original filing deadline. How do you know what your nonprofit’s original filing deadline was?

Exempt organizations that begin their fiscal tax year in March must file by the July Form 990 deadline on July 15. With July 15 falling on a Sunday this year, you have an additional day to file your IRS Form 990, so technically you have until Monday, July 16--TODAY.

If you’ve yet to start your 990 filing, I highly suggest that you switch gears and take a couple of minutes to quickly file IRS Extension Form 8868. Here is how you can file Extension Form 8868 using ExpressExtension.

Filing IRS Form 8868 Today To Keep Your Tax-Exempt Status

Your tax-exempt organization can e-file IRS Form 8868 in less than two minutes using ExpressExtension. To e-file Form 8868 you will need to gather basic details for your organization including the organization’s name, address, EIN, tax year period, and which IRS 990 Form you typically file.

Once you have this information on hand, e-filing IRS Form 8868 is a breeze!

4 Steps To File Extension Form 8868

  1. Create or log in to your ExpressExtension account 
  2. Click “Create Exempt Org Tax Extension” from your account Dashboard.
  3. Follow the step-by-step guide to complete tax extension Form 8868 online.
  4. Transmit directly to the IRS
👀 See? I told you it was simple! Midnight will be here before you know it, so register for your free account and file Extension Form 8868 today to ensure that you keep your tax-exempt status before it’s too late!

Keep Your Tax-Exempt Status, File Now

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How To Increase Your 2019 Tax Refund Starting Now

Unless you’ve been super busy and received extra time to handle your personal tax return filings using ExpressExtension, you have received your 2018 tax refund. If you are looking for ways to increase your tax refund next year then you have come to the right place. We’ve done some research and have a few tips on how to increase our 2019 tax refund starting now.

How To Increase Your 2019 Tax Refund Starting Now

Adjustment Withholding Allowances

One of the easiest ways to receive a higher 2019 tax refund is by adjusting your withholding allowances. While reducing allowances increase your income tax withholding, this means that your paycheck will be less, but the payoff in the following spring is much greater than having to owe taxes to the IRS.

Adjusting withholding allowances is easy as simply asking your HR department for your W-4 form and finding out how many allowances you should take to receive a higher tax refund.

Track Deductions

Staying organized is the main key to successful tax filing and helps with managing tax deductions. An easy way to track deductions is by simply creating a file or folder labeled “Current Tax Info” and store any tax-deductible transactions you make throughout the year.

Standard deductions for college courses, student loan interest, childcare, charitable donations, and more, can be deducted if you have a record of the transaction. Self-employed individuals can also track mileage, income, expenses, etc.

Save, Save, Save!

Saving money throughout the year is a challenge for some, but easy for others. Consider investing in your retirement fund early on. You can contribute up to $18,500 in your retirement for 2018, or $24,500 if you are 50 years of age, and lower your taxable income.
Self-employed individuals have the opportunity to contribute to a Simplified Employee Pension (SEP) IRS for as much as 25% of your net earnings or up to $55,000 for 2018, and your contributions can be deductible as a business expense. Contributions of up to $5,500 towards your IRS will receive a tax deduction for this contribution.

Note: Those who contribute to their retirement may be eligible for the Saver’s Credit which is worth up to $1,000 ($2,000 married filing jointly).

Make a Donation to Charity

Take a few moments to do some “summer cleaning” and make a donation to charity. Deductions can be made for the fair value (thrift shop value) of the household goods you no longer use. Keep a record of each donation and report it as a deduction when filing.

Ready, Set, Go!

The path to increasing your 2019 tax refund starts now! Take advantage of the free time you have this summer and use these tips along the way.

If you need more time to file your income taxes for 2019, simply e-file Form 4868 with ExpressExtension and you will receive an automatic 6-month extension of time to file your individual income tax return.

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How To Get a New Copy of Your W-2 Form

Employers are responsible for distributing W-2 Forms to their employees by January 31st of each year. Share this informative blog with your employees to give them insight on what to do when they lose their W-2 Form.

Employer researching how to get a copy of Form W-2Every year, around of the end of January, you should receive a Form W-2, Wage and Tax Statement, from your employer, which is needed when filing your personal taxes by the annual April income tax deadline.

But I have to ask you... Have you ever misplaced your Form W-2? ...Yea? So have I, don’t feel bad. Searching frantically for your tax information can stress you out, but it doesn't have to.

Here is your inside scoop on how to get a new copy of your W-2 Form fast so you can get organized before the second quarter.

How To Get a New Copy of Your W-2 Form

Why Should I Keep a Copy of Form W-2?

Whether you are a small business owner or work for a company, keeping track of your tax information is very important. Here are just a few things that W-2 Forms are used for outside of filing your personal taxes:

  • Employment Verification 
  • Loan Approval 
  • Maintaining Tax Compliance (Businesses) and more
With the 2nd Quarter Form 941 deadline around the corner, you will need to report the information listed on your W-2 Form. Unsure if you need to request a transcript or copy? Here's a quick breakdown of each and how they can be obtained. 

Form W-2 Transcript

A transcript shows the data reported to the IRS on information returns such as Forms W-2, Form 1099 series, Form 1098 series, and Form 5498 series. However, keep in mind state or local information is not included with Form W-2 information.

The IRS provides a convenient Get Transcript Tool that allows you to request your wage and income transcript online. Transcripts are available for the past ten tax years; however, your current tax year information may not be complete until July.

Tip: IRS Form 4506-T, Request for Transcript of Tax Return, can also be used to request a wage and income transcript the good, old-fashioned way of paper filing.

Copy of Form W-2

The IRS only retains the copies of W-2 Forms that were attached to a paper tax return filed with the IRS. Receiving a Form W-2 copy is a little tricky because the only way to get a copy is to order a copy of the entire tax return using Form 4506, Request for Copy of Tax Return, and paying a $50 fee for each requested return.

The fee for requesting a return will be waived if a federally declared disaster impacted the taxpayer.

ExpressExtension not only provides you with personal income tax extensions, but we are your sources relevant IRS tax information.

If you find yourself unable to locate your Form W-2 and need to take care of tax matters before an upcoming tax deadline, be sure to file an extension with ExpressExtension to receive extra time to file. We provide extensions for individual income tax returns, information returns, business income tax returns, exempt organization returns, and more!

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How to File Your Form 990 Extension?

How to File Your Form 990 Extension?

Before we get started, many of you might be asking, “When is the Form 990 extension due date?” Well, it's today! If you need more time to file 990 online, your best bet for avoiding IRS penalties is to file a tax extension. Here is how to file your Form 990 extension before it’s too late.

How to File Your Form 990 Extension?

Despite your reason for needing additional time, the IRS will automatically grant you a six-month extension of time to file your IRS Form 990, the nonprofit tax return. The application process is quick, easy, and you will receive approval within the hour.
 

Form 990 Extension Due Date

2017 Nonprofit Tax Return

ExpressExtension has your back if you need more time to file IRS Form 990 online. Use our simplified e-filing guide to instantly file an IRS Form 990 extension; Form 990 is the Exempt Organization Tax Extension Form. With our unique online tax filing software, you do not need to know any complex IRS jargon, and there is zero hassle as you follow our streamlined step-by-step Form 8868 (extension for Form 990) instructions to transmit your tax extension directly to the IRS. 

When Is My Form 990 Due?

Your Form 990 extension due date is today, June 15th, if your tax-exempt organization's accounting period runs from February to January.

What Happens if I Fail to File a Form 990 Extension?

If you fail to file or submit your IRS Form 990 (or extension) late, there is a $20 penalty per-day up to $10,000 or 5% of your tax-exempt organizations total gross receipts.

E-File Form 8868, your Form 990 extension, before tonight’s IRS tax deadline.



E-File My Form 990 Extension Now



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How To Extend Your IRS Form 990 Deadline

If your tax-exempt organization operates on a fiscal tax year starting in February, your IRS Form 990 is due Friday, June 15th! Yes, like THIS FRIDAY! 😳

Do you need some extra time to gather your 990 tax form information or just don’t like being rushed? That’s where ExpressExtension comes in. We are here to show you how to extend your IRS Form 990 deadline.

When is Form 990 Due?

As a tax-exempt organization, you are required to file a 990 tax form (Return of Organization Exempt From Income Tax Form) annually. If your accounting period runs from February to January your Form 990 extension due date is June 15th, 2018. If you file an extension for your 990 tax form on or before this date you will receive an additional six months. However, there is no extension available for Form 990-N.

The Form 990 extension due date for fiscal tax year organizations that start in February is Friday, June 15, 2018.

How To Extend Your IRS Form 990 Deadline

You can receive a 990 extension in less than 2 minutes when you e-file with the #1 tax extension software in the U.S., ExpressExtension.

ExpressExtension provides a hassle-free, simplified e-filing process that will directly transmit your completed form to the IRS. Zero complex IRS terminology all you need to do is follow our step-by-step instructions guide to submit information.

To file Form 8868 you first need to gather your organization’s basic details, which includes the organization’s name, address, EIN, tax year period, and which IRS 990 Form you typically file.

1. Create or log in to your ExpressExtension account 

2. Click “Create Exempt Org Tax Extension” from your account Dashboard.

3. Follow the step-by-step guide to complete tax extension Form 8868 online.

4. Transmit directly to the IRS

If you fail to file your nonprofit tax return or extension by the 990 due date you will face some pretty hefty IRS penalties that you don’t want to deal with.


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Successful Tips Every New Business Owner Should Know About


This is a guest post by Austin Jefferson of PayWow; Paywow is an authorized payroll solution designed with the needs of small businesses in mind.

Owning and operating your small business is not always easy. There are several challenges and road bumps along the way that you try to avoid but sometimes have to face head-on. Here are some successful tips every new business owner should know about.

Successful Tips Every New Business Owner Should Know About


1. Build a Network of Fellow Business Owners

If you and your business want to stay relevant, it is important to network with fellow business owners and associates. Interacting with like-minded individuals that experience some of the same challenges and successes as yourself will help build a network that can support you in the long-run.

2. Set Specific Obtainable Goals

Goals are more easily attainable when they are very specific. If you have a big goal that you want to reach, break this goal into smaller ones. For example, take a year-long goal and instead make quarterly goals for your business. This way you can gradually reach your goal and possibly exceed it.

Have your employees set individuals goals for themselves as well and help track them. When employees set their own goals, they are more prone to work towards reaching them. 

3. Delegate Responsibilities To Your Team

Some leaders are great at doing this while others, like myself, struggle to delegate responsibility well. People who tend to struggle with delegating responsibility are typically multi-taskers that can perform various tasks well. However, there comes a point where you realize that you genuinely can’t do it all. Your business will grow when you train equipped talent to handle various aspects of your business.

Note: Never forget that each member of your staff has a talent that should be utilized. 

4. Eliminate Unnecessary Overhead Costs

Always be mindful of unnecessary and overly expensive overhead costs. Things such as office space rental, top of the line supplies, and more can be adjusted if you put some effort into keeping your overhead costs low. The more money you save off the top, the more that goes in your pocket. 

5. Find Your Niche Market & Stick To It

One of the greatest tips you can take as a small business owner is finding the niche (comfortable/ideal) market for your business and cater to them.

Once you have determined who wants your product, buys your product, and will tell others about your product, you’re quickly on your way to success. Stay innovative, and you will have consistent clientele. 

6. Don’t Quit Your Day Job

Like many entrepreneurs, you probably have strongly considered quitting your day job so you can fully immerse yourself in your new business. This is a common trap that most fall in to.

As hard as it may be, I strongly suggest that you keep your day job for a little while until you have the foundation laid for your business and things begin to run smoothly. Once you see the business taking off and producing numbers that can sustain you, then leave your day job.

Take Control of Your Small Business Payroll

As a small business owner, running your business is complex, complicated, and unique to you. Let our sister product PayWow, an all-in-one small business payroll solution, make your payroll simple, uncomplicated and unique to your type of business. We give you the tools your small business needs to run payroll and stay tax compliant because we know you have a lot on your plate.

Sign-up for your free PayWow trial today say goodbye to the days of filing a last-minute extension!

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How To Bounce Back From an IRS Collections Notice

This is a guest post by Ariel Black of PayWow; Paywow is an authorized payroll solution designed with the needs of small businesses in mind.

Nothing could ruin a perfectly normal trip to the mailbox more than an unexpected and unwelcomed letter from the IRS. If you have received a letter with a big I.R.S. stamped in red on the front try not to panic. Don’t automatically assume it’s a business tax notice about to levy your account. However, if it is, today we will learn how you can bounce back from an IRS collections notice. 
Tax payer shocked when receiving an IRS Collections Notice

How To Bounce Back From an IRS Collections Notice

Step 1: Pick Your Stomach Off The Ground

After your stomach drops to the floor try and take a few deep breaths. Don’t panic...yet. Each year the
IRS and other state tax agencies send millions of business tax notices to owners like you, delving out little envelopes of sheer panic in the mail. Thankfully the majority of these notices are automatic and are typically harmless.

Step 2: Read The Notice Carefully


No matter the content be sure to read both the front and back carefully. Make sure you understand what it has to say and what it is concerning. Typically these are merely automatic notifications that do not require any action on your part. If this notice is because of a tax mistake on your part be sure to understand the situation clearly.

Step 3: Recognize The Sender

Both the IRS and the state tax agency can send you crucial business-related tax information. Depending on your state, either could be sending you panic via snail mail.

If you question the validity of the notice in question, it is a good idea to contact the agency that sent the notice.

Step 4: Identify The Type of Notice

There are several different types of IRS notices and the most urgent being an IRS collections notice. However, the collections notice will give you all the information you need to process and resolve the issue.

Step 5: Respond Before The Deadline

Once you understand the situation, you should respond immediately. Typically the IRS gives business owners a 30-day deadline for avoiding further action from IRS collections. But it is important to act fast if you receive a business tax notice. If you are still confused, write down your questions and call the corresponding agency. The number for the IRS collections agency will be listed on the notice itself.
 

Moving Forward

Please keep in mind this PayWow blog is purely information and it is not official tax advice. While this blog provides a general guideline for handling business tax notices and IRS collections notices, it is always best to consult a tax advisor or CPA about your specific situation.
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Restructuring Your Business May Be The Best Thing To Do

This is a guest post by Ariel Black of PayWow; Paywow is an authorized payroll solution designed with the needs of small businesses in mind.

Most likely when you choose your business structure or entity type it was a snap. Your accountant or lawyer helped you to consider a few facts and then you came to one of the most popular entity types: an S corporation (S Corp) or a limited liability company (LLC.) But following President Donald Trump’s Tax Reform Bill, restructuring your business may be the best thing to do.

Restructuring Your Business May Be The Best Thing To Do

The Tax Cuts and Jobs Act (TCJA) passed last December has made the choice of structure challenging for both new and established businesses. While in the past a C Corporation was hardly ever considered but now companies can not ignore the new 21 percent corporate tax rate which was previously lowered from 35 percent.

What Business Structure Will Benefit the Most

The Tax Cuts and Jobs Act (TCJA) has successfully impacted almost every type of business, but rather than going through each form here are the two main groups.

Pass Throughs

Pass Throughs are partnership business structures, S corps, and LLCs. The Tax Cuts and Jobs Act (TCJA) introduces a new 20 percent deduction on qualified business income. However, his deduction is temporary and will expire in 2025 if another law is not passed to extend its time.

C Corps

The rate for C Corps took a major plug from a whopping 35 percent to 21 percent. And unlike the 20 percent deduction for pass-through structures, this change is permanent. This means the top rate will stay at 21 percent until Congress changes it. This is a huge shift and it is sending many business owners running to their accountant’s office.


Payroll Made Simple, Sorry We Can Help With The Rest

Here at PayWow we understand the complexity of processing payroll and trying to manage the day to day business. This is failing to mention the ever-changing political and tax policy scene. Which is why we strive to simplify your payroll needs with our innovative payroll software solution. Utilize our informative payroll blogs to read the latest small business news and information.

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6 Summer Tax Deductions You Should Know About

Summer is heading your way at full force which means your small business is getting ready for the busy season. Families and individuals across the country are out and about making deals, traveling on vacation, renovating their homes, enjoying some needed time off, and more.

With all this summer hustle and bustle the last thing on your mind is taxes. However, this means you are missing out on some major savings! Here are six summer tax deductions you should know about.

6 Summer Tax Deductions You Should Know About

1) Home Office Deduction

Do you work from home and have an office space where you complete your work? If so, then you can count that as a deduction as long as the home office meets IRS requirements (space solely devoted to your business).

Now if your children use this space in your home as a play area, you cannot count that as a deduction (Lol).  Placing your laptop on a table or laying on the couch working won’t cut it either. However, an entire room does not have to be devoted to your home office; part of the room will work.

Don’t even try to claim your whole house unless you want someone from the IRS knocking on your door sooner rather than later.

2) Office Space Rental

If you need to find a larger business or office space to accommodate your growing business or staff, you can deduct the difference in cost for renting the space.

The interest on your mortgage loan can also be deducted!

3) Utilities

Did you know that you could deduct the cost of utilities for running your business? Yep, things such as your electricity bill, A/C bill, phone bill, internet, and more can be deducted.

Note: If you have a home office, a family landline cannot be deducted. However, the 2nd line for business calls only can be. You can also deduct the percentage of calls that are used for business calls from your mobile phone bill.

4) Office Supplies

Although we live in a tech-savvy world, there are just some office supplies that you need in your office space. Materials such as pens, pads, sticky notes, etc., can be deducted. You can also deduct cleaning supplies that are used to keep your space nice and clean.

Furniture upgrades and software subscriptions can also be deducted so that you can give your team the comfortability and tools they need to produce results.

5) Travel Costs

Do you need to travel to handle business-related concerns? Deduct those expensive travel costs for airfare, train tickets, and lodging.

Meals and entertainment costs can also be deducted, but don’t splurge too much; only 50% of these costs can be deducted.

6) Equipment Repair

No matter how much money you spend on an equipment purchase, things break and need maintenance at some point. If equipment for your business needs to be repaired, you can deduct these costs.

Enjoy summer and all of the perks that come with the season! Make sure to keep a detailed record of your business-related receipts and take advantage of these common tax deductions. When it’s time to file handle tax filings for your business, our sister product TaxBandits has you covered. Whether it’s 1099, W-2, 941, or an extension form, TaxBandits has everything you need in order to file on behalf of your business using one account. Need extra time to file? You can also apply for an extension with TaxBandits or stick with ExpressExtension; we are always here to help you get extra time to file.

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How To Extend Your IRS Income Tax Return 2018 Deadline While Abroad


If you are living abroad or serving in the military overseas, you automatically receive a 2-month extension of time to file your annual income tax return. If you fail to file by the June 15 deadline you could face major IRS penalties. So to avoid this here is how to extend your IRS income tax return 2018 deadline while abroad.

How To Extend Your IRS Income Tax Return 2018 Deadline While Abroad


If you qualify to file on the June 15 extended deadline but are unable to file your return by this date, you can request an additional extension by filing IRS Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return.

Quickly file IRS Form 4868 and extend your income tax return 2018 deadline to October 15, 2018. Although this extension will give you more time to file your return, you will still owe interest on any unpaid tax amount from the original due date of the return.

NOTE: Tax filers who currently live in the United States that filed an extension by the original April 18, 2018 deadline must file their return by October 15th as well.

Where To File IRS Form 4868


There are two ways you can file your IRS Form 4868...paper filing or my personal favorite, e-filing online which is a lot faster and more efficient.

If you decide to file the traditional paper route, download and print your form from the IRS, complete it at your own risk with no assistance from a tax expert, and mail your U.S. tax return to:

Department of the Treasury
Internal Revenue Service Center
Austin, TX 73301-0215

Estimated tax payments should be mailed with Form 1040-ES to:

Internal Revenue Service
P.O. Box 1300
Charlotte, NC 28201-1300

Sounds a little risky, right? Here’s a better way to file that I’d suggest you take advantage of.

How To E-File Extension Form 4868 in Three Steps


Step 1: Calculate Estimated Taxes Owed

You will need to estimate the amount of taxes you owe for the previous year. You can do this by simply subtracting the total tax amount withheld from your paycheck and your estimated tax payment from the tax amount you owe to the IRS.

Before you estimate your liability amount be sure to reduce your income by all applicable exemptions and deductions.

Use the 2017 tax tables to estimate the amount you owe on your income tax return. If you do not pay the full amount, you may owe interest and penalties.

Step 2: Create Your ExpressExtension Account

Create your free account and click “Create Personal Tax Extension” from your account Dashboard. At this point, you can pay any owed income taxes; if you are expecting a tax refund, you will mark the amount as zero.

The Form 4868 process is very straightforward and requires minimal information. However, our step-by-step e-filing process ensures your IRS Form 1040 tax extension is correctly filed the first time.

You will need the following income tax information:
  1. Name
  2. Address
  3. Social Security Number

Step 3: Filing an Extension for Taxes

Once you have completed and reviewed your Form 4868, you can begin filing an extension for taxes directly with the IRS. When the IRS accepts your form, you will be notified immediately via email.

Make the right choice and have peace of mind when you e-file Form 4868 using ExpressExtension to get an additional six months to file your personal income tax return.

File Your Tax Extension Now!

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How to File the Form 990 Extension

How to File the Form 990 Extension If you need more time to file 990 online, your best bet for avoiding IRS penalties is to file a tax extension. However, today is the last day to e-file Form 8868. Here is how to file the Form 990 extension before it is too late. 

How to File the Form 990 Extension

Despite the reason for needing additional time, the IRS will automatically grant you a six-month extension of time to file IRS Form 990, your nonprofit tax return. Also, the application process is quick, easy, and you will likely receive approval within the hour.
 

990 Extension Due Date For 2017 Nonprofit Tax Returns

If you need more time to file IRS Form 990, ExpressExtension has your back. You can use our quick and easy e-filing guide to instantly file an IRS Form 990 extension, the Exempt Organization Tax Extension Form! Zero hassle involved, simply follow our step-by-step instructions to transmit this form directly to the IRS.

The Form 990 extension due date is today, May 15th, if your nonprofit organization runs on a calendar year.

What Happens If I Fail To File?


How to File the Form 990 Extension
So, what happens if you don’t file your IRS Form 990? If you fail to file or submit your form late, there is a $20 penalty per-day up to $10,000 or five percent of your organization total gross receipts.

Sounds like a big mess, right?... Moral of the story --- try to e-file Form 8868 by the 990 due date tonight at midnight. That’s all I am going to say.





E-file Your Form 990 Extension Online




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What Happens When You Are Out of Time? File a Form 990 Extension

Your nonprofit tax return deadline is literally staring us in the face and let’s be realistic; if you haven’t filed by now, you don’t have enough time to before the deadline. The 990 due date 2017 is May 15, 2018, and if you have a calendar handy you will notice that’s TOMORROW! That’s where ExpressExtension comes in and saves the day!

We offer the Form 990 extension, Form 8868, which will grant you an additional six months to file with the IRS. If you are like me, you probably were under the assumption that you only file tax extension Form 8868 for nonprofit organizations that typically file IRS Form 990...to my surprise, that isn’t the case!

After doing some research, I discovered that IRS Form 8868 is more than just an extension for Form 990; it can come in handy at the “ninth hour” when filing several IRS tax forms. What happens when you are out of time? File a Form 990 extension!

What Happens When You are Out of Time? File a Form 990 Extension

Tax extension Form 8868 provides those that have to meet May 15, 2018 filing deadline with an extension of time to file several tax forms due by May 15th. The following tax forms can have their tax extension deadline 2018 extended to receive extra time to file with IRS Form 8868:

Form 990/990-EZ
Forms 990 and 990-EZ are used by tax-exempt organizations, nonexempt charitable trusts, and section 527 political organizations to provide the IRS with the information required by section 6033. You can easily extend its filing deadline by applying for a 990-EZ extension with IRS Form 8868.

Form 990-BL
Form 990-BL is generally used by black lung benefit trusts to meet the reporting requirements of section 6033.

Form 4720 (Individual)
Form 4720 is intended primarily for use with Form 990-PF and provides for figuring and reporting the initial taxes imposed under sections 4941, 4942, 4943, 4944 and 4945 on private foundations, foundation managers, and disqualified persons.

File Form 4720 by the 15th day of the 5th month after the organization's accounting period ends.

Form 990-PF
Form 990-PF is used to figure the tax based on investment income, and to report charitable distributions and activities.

Form 990-T (sec. 401(a) or 408(a) trust)
This form is recognized as the Exempt Organization Business Income Tax Return and should be filed by the 15th day of the 4th month after the end of an organization’s tax year. Form 990-T is also filed by trusts, who may also request an automatic 6-month extension of time to file their annual tax return by submitting Form 8868 to the IRS. 

Form 990-T (Corporation)
Form 990-T must be filed by the 15th day of the 5th month after a corporation’s tax year end.


Form 1041-A
IRS Form 1041-A is used to report charitable information required by section 6034 and its related regulations.

Form 4720
This is the Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code and is due the 15th day of the fifth month after the end of the entity’s accounting period.

Form 6069
This form is also used to determine the amount of excise tax imposed under section 4953 for contributions that are more than the maximum allowable deduction.

Form 8870
IRS Form 8870 is used by certain charitable organizations or charitable remainder trusts to report premiums paid on certain life insurance, annuity, and endowment contracts (personal benefits contracts).

How To File Tax Extension Form 8868

E-filing tax extension Form 8868 can be completed quickly in just a few steps. Create your ExpressExtension account and click "Create Exempt Org Tax Extension" from your account Dashboard.

Once you have your information ready, our on-screen instructions will guide you step-by-step to complete IRS Form 8868 online, and we'll do the rest. Make sure your information is correct and accurate because getting your extension for Form 990 accepted the first time around is the goal!

If your IRS Form 8868 gets rejected, we tell you exactly why and how to correct the issue so that you can retransmit for free. With stress-free e-filing at your fingertips, it doesn't get much easier than this! Hurry and file while you still have time to meet tomorrow’s 990 extension due date 2017.

File Tax Extension 2018 Now!

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How IRS Form 8868 Can Change The 990 Deadline

990 Nonprofit Filer seeing how IRS Form 8868 can change the 990 deadline
Isn’t it crazy how tax deadlines can pop up out of nowhere? In the midst of college graduations, Mother’s Day shopping, and planning summer vacations for you or your family and friends, filing an IRS Form 990 by the May 15 deadline might not be at the top of your to-do list.

Fortunately, ExpressExtension offers IRS Form 8868 which can get you more time to file when you file by the IRS filing extension deadline. Here’s how IRS Form 8868 can change the 990 deadline for your exempt organization.

How IRS Form 8868 Can Change The 990 Deadline

Nonprofit and tax-exempt organizations are required to file a Return of Organization Exempt From Income Tax Form each year. Commonly referred to as a Form 990, this form is used to prevent organizations from taking advantage of their tax-exempt status along with providing the public with financial information about nonprofit organizations.

Organizations required to file a 990 tax form by Tuesday, May 15, 2018, can receive 6 extra months to file when they file an IRS Exempt Organization Form 8868 by the May 15th Tax-Exempt Deadline.

IRS Form 8868 is the tax extension form used by nonprofits, charities, and other tax-exempt groups to apply for an automatic 6-month extension to file their returns. Because this IRS filing extension is automatic, all you have to do is e-file and transmit it to the IRS by the May 15th deadline to get your tax extension Form 8868 approved almost instantly.

Filing Tax Extension Form 8868

E-filing IRS Form 8868 is extremely easy. You can file a 990 extension in less than 2 minutes when you e-file with the #1 tax extension e-filing solution, ExpressExtension.

To file Form 8868 you first need to gather your organization’s basic details, which includes the organization’s name, address, EIN, tax year period, and which IRS 990 Form you typically file.

990 Filer receiving an extension of time to file Form 990Note: Make sure this information is accurate and matches what the IRS currently has on file for your exempt organization. Call the IRS at 1-877-829-5500 to verify these details, if needed.

Once you have gathered the necessary information to file, create or log in to your ExpressExtension account and click “Create Exempt Org Tax Extension” from your account Dashboard. Next, follow the step-by-step guide to complete tax extension Form 8868 online!

ExpressExtension’s tax filing website service keeps you informed throughout the Form 8868 extension filing process with real-time updates when the IRS receives your form and when it has been accepted. As soon as the IRS filing extension deadline has been accepted by the IRS, you will be notified via email and will instantly receive an additional 6 months to file your Form 990.

Once the 990 extension has been approved, your new filing due date will be November 15, 2018. File your IRS Form 990 and tax extension Form 8868 with TaxBandits, the e-filing software you can trust. TaxBandits’ comprehensive software is designed specifically for nonprofit and tax-exempt organizations and works to keep your organization compliant with the IRS all year long.

File Extension Form 8868 Before It’s Too Late!

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Deadline Day: This IRS Form 941 2018 Doesn't Have an Extension

Yep, you read the title correctly...there’s another tax filing deadline TODAY that you must meet; especially if you own a business.

If you own and operate a business with employees, you must file Form 941 for 2018 by midnight TONIGHT or face major IRS penalties.

Are you not ready to file your 941 Form 2018? Take a breath and try not to panic... yet. Our sister product TaxBandits has a tax filing solution that will not require an all-nighter leaving you looking crazy in the morning.

It’s deadline day and this IRS Form 941 2018 doesn’t have an extension, so let’s get to it!

It's Deadline Day and IRS Form 941 2018 Doesn't Have an Extension

What is IRS Form 941? (In A Nutshell)

Prior to filing Form 941 for 2018, let’s quickly discuss who is required to file and what it entails.

IRS Form 941, Employer’s Quarterly Tax Return, is used to report employment taxes quarterly and assists with calculating the employer’s portion of Social Security and Medicare tax.

The first quarter deadline for this year is today, April 30 and covers the months of January, February, and March.
 

Form 941 E-Filing Checklist

When preparing to file, be sure to use this Form 941 for 2018 checklist, as the following information is required to complete it:
  1. Total Employee Count
  2. Medicare Tax and Social Security
  3. Deposit Made to the IRS
  4. Tax Liability (Monthly/Semiweekly)
  5. Signing Authority Information
  6. Online Signature PIN or Form 8453-EMP

Steps To E-File Form 941 for 2018:


Filing IRS Form 941 2018 with TaxBandits is simple! Just follow these steps to complete your quarterly filing:
  1. Sign in or Create your TaxBandits account
  2. Select “Form 941”
  3. Add employer details
  4. Choose tax year/quarter
  5. Follow Interview-Style Process
  6. Enter the deposit made to the IRS
  7. Enter your deposit schedule and tax liability
  8. Add your online signature PIN or complete Form 8453-EMP
  9. Review, pay and transmit your form directly to the IRS

Signing Form 941 Online

When you file Form 941 online you are required to electronically sign your form before transmitting to the IRS. There are two ways you can do this with TaxBandits. You can use your IRS online signature PIN or use Form 8453-EMP.

To use Form 8453-EMP simply download it, fill it out, and re-upload it to the system. The entire process only takes about a minute.

Failure-To-File Form 941 Penalties

Failing to file Form 941 by its deadline can affect your business negatively. For example, if you fail to file your 941 Form by midnight, your business will incur a penalty of 5% of the total tax amount due. An additional charge of 5% per month will also be charged for each month that the return is not submitted to the IRS. This fee can accumulate for up to 5 months.

Furthermore, if you failed to pay an owed tax bill, you will initially be charged an additional 5% of the unpaid tax amount. This fee will also increase each month that the payment remains unpaid.

Filing Form 941 with our sister product TaxBandits is easy! Plus, if you need any assistance, our US-based support team is standing by ready to help you. 

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Why You Should File A Tax Extension 2018

Is it just me or do tax deadlines always come at the most inconvenient times?

Schools are preparing for summer break, vacations are being planned, organization events are gearing up, and the list goes on. Adding annual tax filing responsibilities to your ever-growing to-do list is most likely the last thing that you want to do.

Thank goodness for the 2018 tax extension deadline for tax-exempt organizations! It not only gives you extra time to file, bt eliminates the stress and worry of filing taxes for your exempt organization. So why you should file a tax extension 2018? Well sit back, relax, and let us explain.

Woman learning why you should file a tax extension 2018

Why You Should File a Tax Extension 2018

Lower Your Chance of an Audit

The federal government loves setting specific quotas and the IRS must audit a set number of business tax returns every year. However, they will typically fulfill their quota by the May deadline. Take your time and avoid a higher chance of an audit by filing a tax extension 2018.

Adequate Amount of Time to Complete Paperwork

The cliche response to this would be “to get more time to file your 990 Form.” Although this is a great reason to file IRS Form 8868, there is much more to filing this unique extension form. 

IRS Form 8868 can be filed for an automatic extension of 6 months to file your exempt organization’s income tax return. Gather your basic organization details that the IRS requires for you to file a Form 8868, including your organization's name, address, EIN/Tax-ID, tax year period, and which 990 form you typically file. The information must match what the IRS already has on record for your exempt organization.

If you have questions about what to report or how to complete your 990 form, you should file a tax extension 2018 to receive extra time to file correctly. 

NOTE: The only form that cannot be extended with IRS Form 8868 is Form 990-N (e-Postcard). 

Where To File Form 990 Series Tax Extension Online

Our partners at TaxBandits provide everything you need to safely, securely, and easily e-file your appropriate 990 Form before the May 15th deadline. With a single account, you can complete a variety of important tax forms for your nonprofit organization or small business.

Best of all, when you e-file with TaxBandits, you have the option to send your 990 Form information directly to GuideStar, the world’s largest source of nonprofit information.
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How To Extend Your Exempt Organization Tax Deadline


The biggest filing deadline for tax-exempt organizations is coming up on May 15th. Organizations that operate on a calendar tax year from January to December are required to file their appropriate 990 Form by this date. If you need more time to prepare and file your 990 Form, you can extend your exempt organization tax deadline!

How To Extend Your Exempt Organization Tax Deadline

Extending your organization’s tax deadline is quick and easy when you file IRS Form 8868. You will only need a few pieces of information to get started and when you finish you will have an additional 6 months to file!

Information Needed To File

The following information is needed to file IRS Extension Form 8868:
  1. Organization/Business Name
  2. Address
  3. EIN/FEIN
  4. Tax Estimate (if any)
  5. Type of tax form you are requesting an IRS extension form (990, 990-EZ, etc.)
Pretty straightforward, right? Once you have that information available filing IRS Extension Form 8868 takes no time at all!

How To File IRS Extension Form 8868

The first step to filing IRS Form 8868 is creating your FREE account with ExpressExtension, which takes less than a minute. Then choose IRS Form 8868 to e-file and follow the prompts to enter your information.

Once you have submitted all required information review your return and make sure the information you entered is accurate and correct. Hit the Transmit button and off to the IRS, your 990 extension application goes. You will receive an instant notification as soon as it is accepted by the IRS; which is normally within a few minutes.


Next Steps After Filing a 990 Extension

Once your tax extension has been approved and tax deadline extended you will have an up to 6 months to file your Form 990. You can file the appropriate 990 Form for your organization with our sister product, TaxBandits. TaxBandits covers filings for the Form 990 Series as well as other important tax forms for business owners, nonprofit organizations and more.

Get ahead of the game and file IRS Extension Form 8868 by the May 15th tax deadline.

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The IRS Extends The Tax Day Deadline Due to System Issues


It is official the Internal Revenue Service (IRS) is giving all taxpayers an additional day to file their income tax return following system issues. The IRS has just announced that individuals and businesses with a filing or payment deadline originally due on Tuesday, April 17th, 2018 now have until midnight Wednesday.

Following Technology Collapse The IRS Delays Tax Deadline

All taxpayers will have until Wednesday, April 18th, 2018 to submit tax returns and extensions without penalty. This is following the agency’s system crash for electronically filing returns during the originally scheduled Tax Day deadline.

While the IRS’s electronic filing system came back online Tuesday evening, the direct tax payment system used by IRS-authorized third-party providers is still not going through. However, this will be resolved by tomorrow, April 18th.


“This is the busiest tax day of the year, and the IRS apologizes for the inconvenience this system issue caused for taxpayers,” said Acting IRS Commissioner David Kautter. “The IRS appreciates everyone’s patience during this period. The extra time will help taxpayers affected by this situation.”

The IRS has also advised taxpayers needing additional time to file income tax extension Form 4868 for an automatic six-month extension.

You can file tax extension Form 4868 quickly and easily here at ExpressExtension. Our step-by-step filing process is equipped with built-in audits to ensure error-free filing. When you file your tax extension online, you will receive a confirmation email notifying you that your IRS extension was accepted.




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IRS Tax Payment Website Crashes on Tax Day 2018

Of all days for there to be an issue with the IRS Tax Payment System, of course, it would happen on the biggest tax day deadline of the year?! Hard to believe, right? 

The glitch in the IRS Payment System happened a several hours ago and has become the latest trending news topic as the April 17th tax deadline is steadily passing us by. 

Thankfully, taxpayers can still e-file a tax extension online in just a few minutes with ExpressExtension despite the IRS tax payment website crashing on tax day 2018.

IRS Tax Payment Website Crashes on Tax Day 2018

Users who click on the “Direct Pay” button located on the IRS website receive an alert stating that the service is currently unavailable. This would be okay if this happened last week; but with only several more hours left in the day, last-minute tax filers are in a panic trying to avoid IRS penalties and interest.

“We are working to resolve the issue, and taxpayers should continue to file as they normally would.” -David Kautter, Acting IRS Commissioner.
While this hardly provides any reassurances for those needing to file you still have hope with ExpressExtension. Quickly file tax extension Form 4868 before midnight!

At ExpressExtension, we are currently up and running patiently waiting to process your income tax extension by tonight’s deadline.

Tax Extension Form 4868

IRS Extension Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return, is used by individual or joint taxpayers to receive an automatic tax extension of up to 6 months to file their personal income tax return Form 1040.

Due on April 17th (TODAY), Form 4868 is used by most filers to extend the time for filing the following tax forms: 

Form 1040, Form 1040A, Form 1040-EZ, Form 1040NR, Form 1040NR-EZ, Form 1040-PR or 1040-SS.

How To File A Tax Extension 2018

Filing Income Tax Extension Form 4868 with ExpressExtension literally takes minutes and will extend your 2018 tax deadline date.

Create your free ExpressExtension account and click "Create Personal Tax Extension" from your account Dashboard. If you owe taxes, you will need to estimate your total income tax payment for the filing year. You can use your prior year tax situation as a reference, but give the most accurate approximation as possible. 

When you have everything ready, our step-by-step guided process will help you file your tax extension online in minutes. You will even be notified of the acceptance of your extension shortly after filing. The clock is ticking and Tax Day 2018 is almost over!

File Tax Extension 2018 Now Before It’s Too Late!

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It's Tax Day 2018! How To Apply For a Tax Extension?

If you need more time to file your tax return 2018, your best bet for avoiding IRS penalties is to file a tax extension. However, today is the last day to file taxes 2018 and request an extension. Here is how to apply for a tax extension before it is too late.

It's Tax Day 2018! How To Apply For a Tax Extension?

Despite the reason for needing additional time, the IRS will automatically grant you a six-month extension of time to file your federal tax return. Also, the application process is quick, easy, and you will likely receive approval within the hour.


What Do You Need To Know Before Filing a Tax Extension?

Any taxpayers can file tax extension Form 4868 and receive an automatic federal tax extension for filing their federal income tax return. However, you are expected and obligated to pay any owed taxes by Tax Day 2018 (TODAY.) 


If you are unable to make your tax payment, you will need to pay penalties and interest. It is highly recommended that you pay as much of the owed taxes as possible to lower your penalty cost.

Keep in mind that the IRS penalty for failing to file your federal income tax return is significantly higher than the penalty for not paying your taxes.

Form 4868 will not extend the payment deadline for your 2018 tax return.


Income Tax Filing Penalties

  • Late Tax Payment:
    • 0.5% of the taxes owed each month it remains unpaid. (Penalty maximum 25%)
  • Late Tax Filing:
    • 5% of the taxes owed each month your return is late. (Penalty maximum 25%)
    • Minimum penalty amount after 90 days is the smaller of $100 or 100 percent of your owed tax amount.
  • Combination Penalties:
    • The failure-to-file penalty minus the failure-to-pay penalty. 
    • Minimum penalty amount after 90 days is the smaller of $130 or 100% of the unpaid tax. 


How to Request a Tax Extension?

Step 1: Calculate Estimated Taxes Owed

Couple needing to file tax extension 2018 to avoid penalties You will need to estimate the amount of taxes you owe for the previous year. You can do this by simply subtracting the total tax amount withheld from your paycheck and your estimated tax payment from the tax amount you owe to the IRS.

Before you estimate your liability amount be sure to reduce your income by all applicable exemptions and deductions.

Use the 2017 tax tables to estimate the amount you owe on your tax return. If you do not pay the full amount you may owe interest and penalties.

Step 2: Create Your ExpressExtension Account
Create your free account and click “Create Personal Tax Extension” from your account Dashboard. At this point, you can pay any owed income taxes; if you are expecting a tax refund, you will mark the amount as zero.

The Form 4868 process is very straightforward and requires minimal information. However, we will guide you through step-by-step to ensure your form is filed correctly the first time.

You will need the following income tax information:
  • Name
  • Address
  • Social Security Number

Step 3: File Tax Extension 2018
Once you have completed and reviewed your Form 4868, you can file a tax extension 2018 directly with the IRS. When the IRS accepts your form, you will be notified immediately via email.

Please keep in mind that while Form 4868 does provide you with an extension of time to file you are still required to pay at least 90 percent of your owed taxes.



File For Tax Extension 2018

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Income Tax Filing Penalties You Need to Know

Ready or not Tax Day is tomorrow! If you have not filed your income tax return yet, you might be staring down the barrel of hefty IRS penalties. To encourage you to file an IRS extension here are the income tax filing penalties you need to know before its too late.

Income Tax Filing Penalties You Need to Know

If you owe money to the IRS, you might believe not filing a tax return is the best option. Unfortunately, this is the worst thing you could do. The IRS penalty for failing to file your income tax form is significantly higher than the penalty for not paying your taxes owed.

When Do Tax Return Penalties Apply?

If you owe taxes to the IRS and do not file your tax return or file an extension by tomorrow’s Tax Day deadline you will incur penalties and interest. This amount will be based on the total tax amount you owe to the IRS.

However, penalties and interest typically do not apply when you are expecting a tax refund and fail to file a tax return.

Income Tax Filing Penalties

  • Late Tax Payment:
    • 0.5% per month of the total tax unpaid tax. (Penalty maximum 25%)
  • Late Tax Filing:
    • 5% of the taxes owed each month your return is late (Penalty maximum 25%)
    • Minimum penalty amount after 90 days is the smaller of $100 or 100 percent of your owed tax amount.
  • Combination Penalties:
    • The failure-to-file penalty minus the failure-to-pay penalty. 
    • Minimum penalty amount after 90 days is the smaller of $130 or 100% of the unpaid tax. 


Need More Time to File Your Income Tax Return?

If you need more time to file your tax return, you can receive a six-month extension of time to file with IRS Form 4868. The 1040 extension form officially titled the Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. If you need to file IRS extension Form 4868, you will need to e-file by midnight tomorrow. If you submit before midnight on the Tax Day deadline (tomorrow), you will automatically be approved for an additional six months to file your tax return without incurring IRS penalties.


How Can I File My 1040 Extension Online?

You can file tax extension Form 4868 quickly and easily here at ExpressExtension. Our step-by-step interview-style process is equipped with built-in audits to ensure error-free filing. When you file your tax extension online. You will receive a confirmation email notifying you that your IRS extension was accepted.



Avoid Penalties By Filing a Tax Extension



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The Best Way to Get More Time to File for Tax Day Deadline?



Spring is here, and the April 17th tax deadline will be here before we know it. But many of us will not be ready to file our federal tax returns on Tuesday. Thankfully, the IRS allows you to request an extension of time to file your income tax return.

Do You Need More Time to File Your Tax Return?

It is understandable that you have a lot on your plate and meeting deadlines is often difficult. If you are unable to file your federal income tax return by the April 17 deadline, don’t worry about the IRS taking your down. Well, as long as you file an income tax extension.





What is IRS Extension Form 4868?

IRS Form 4868 is the 1040 extension formally titled the Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. If you need to file tax extension Form 4868, you will need to e-file by midnight on April 17th, 2018. If you file by the tax extension deadline, you will receive an additional six months to file your tax return without incurring IRS penalties.


Where Can You File a Tax Extension Online?

You can file tax extension Form 4868 with ExpressExension quickly and easily. Their step-by-step interview-style process is equipped with built-in audits to ensure error-free filing. When you file your tax extension online, you will receive a confirmation email within 48 hours notifying you that your IRS extension was accepted.

What You Need To File An Income Tax Extension

  • Sign-up for a free account with ExpressExtension.com
  • Gather the following information: 
    • Name and Address (Spouse’s name if filing jointly)
    • Social Security Number (SSN) (Spouse’s SSN if filing jointly)
    • Estimated total tax liability for 2017 tax year
    • Total 2017 tax withholdings and tax payments
    • Estimated tax payment owed to the IRS (if any)
IRS extension Form 4868 is an extension of time to file and not an extension of time to pay taxes. If you owe the IRS, you will need to pay this amount when you file tax extension Form 4868.






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Do You Need To File an Income Tax Extension?

With less than a week until Tax day, there is a good chance that some procrastinators have not filed their income tax return.

If you looked at the calendar and thought, “I have plenty of time to get those tax preparations in order” and then work kicked it into high gear and next thing you knew the tax deadline is less than a week away… You should know that it happens to the best of us. If you find yourself in this situation, you need to file an income tax extension.

Fortunately, you can file tax extension Form 4868 for an automatic six-month extension to submit your federal income tax return without penalties.


Do You Need To File an Income Tax Extension?



The 2018 personal tax extension deadline is April 17, 2018 (the same date as tax returns are due.) Typically, Tax Day is April 15th but this year it falls on Sunday and Monday is Emancipation Day, a legal holiday in Washington, D.C.

The IRS is far more forgiving about doling out additional time than you might expect when it comes to the dreaded Tax Day. However, while Form 4868 does give taxpayers an extension of time to file income returns, it does not extend the time to pay.

As it turns out, it is relatively common to request more time to get your tax preparation in order. According to Forbes, there are some 10 million people expected to file a tax extension.

How Do I Apply For An Income Tax Extension?


Simply e-file Form 4868 with ExpressExtension and you will receive an automatic 6-month extension of time to file your individual income tax return. Once you have filed Form 4868 with the IRS, you will receive a confirmation email within 48 hours notifying you that your extension was accepted by the IRS.



File Your Tax Extension in Minutes





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