Blog

How to Avoid IRS Penalties?

Time is almost up! Your ACA, 1099, and other information returns are due to the IRS on April 2nd, by midnight. We hope this deadline didn’t sneak up on you, but if it has no need to stress yourself out. Here is how to avoid IRS penalties!
Business owner considering his options and decides to file IRS extension form 8809 to postpone the deadline for filing his 1099s, 1095c, and 1094


How to Avoid IRS Penalties?

If you aren’t ready to file, you can apply for an automatic 30-day extension with IRS Form 8809. Information Return Extension Form 8809 is a lifesaver if you find yourself in a pinch. The extension is automatic, so you don’t need to worry about providing a valid reason to the IRS.

You can use IRS Form 8809 to extend the filing deadline for the 1094-C, 1095,1097, 1098, 1099, 3921, 3922, and 8029.



If You Fail to File IRS 1099 Series Forms

If your business fails to file its information returns on or before the deadline, the result will be a $50 per form penalty if submitted within 30 days following the deadline. The maximum penalty is $532,000 per year or $186,000 for small businesses.

If you file more than 30 days after the deadline, but before August 1st the penalty will be raised to $100 per form with a maximum fine of $1,596,500 or $532,00 for small businesses. Information returns filed with the IRS after August 1st will have an increased IRS penalty of $260 per form, with a maximum fine of $3,193,00 or $1,064,00 for small business.

For more information on what the IRS considers a small business click here.

IRS 2017 Extension Form 8809 Requirements

To file IRS Extension Form 8809, you will need the following information:
  • Name
  • Business Name
  • Business Address
  • Phone Number
  • Form Code

How to E-file IRS 2017 Extension Form 8809

Business owner filing tax extension form 8809 to avoid IRS penaties
  • Create Account
  • Add Employer Details
  • Indicate Forms to be Extended
  • Enter Payer Details
  • Pay and Transmit Directly With The IRS

Thousands of business owners turn to extensions as a way to avoid being hit by IRS penalties and fees. It’s much better to have an IRS extension than IRS penalties. The process to get an extension is quick and easy, then you can relax with more time to file.


Where Can I File IRS 2017 Extension Form 8809?


ExpressExtension IRS-authorized e-file provider of business information return extension forms. Our cloud-based software will transmit your Form 8809 safely and securely to the IRS.

Step-by-step instructions help to quickly e-file and transmit the form. Then within a matter of minutes, you will be notified about the status of the IRS approval. Avoid hefty IRS penalties by filing your IRS 2017 extension Form 8809 today!





No comments:

Post a Comment

Watch
IRS Tax Extension

Support Center

Chat with us