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What you need to E-File a Tax Extension for your business (IRS Form 7004)?

February 24th, 2012
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The IRS Form 7004 is the official document that businesses can file in order to receive an additional 5 to 6 months to fileEfile IRS Tax Extension Form for just $9.95 with www.Expressextension.com a tax return. This form can be used by many different business types such as: Multi-Member LLCs, C-Corporations, S-Corporations, Partnerships, Trusts, and Estates.

The quickest method of filing this form is by using ExpressExtension.com. The IRS has authorized ExpressExtension as an official E-File Provider for Forms 7004, 4868, & 8868. The E-File option for this form allows businesses to easily file this form in minutes from anywhere.

All that is needed to file this form is a basic knowledge of the business as well as its official tax status. Most of this information can be found on a previous year’s tax return as long as that information has not changed. Important data such as the official business type and also the specific IRS tax return type needs to be entered in this Form. If you are unsure of this information, please check a previous return or a tax professional.

An estimation of taxes is also required.  A Tax Extension only extends the amount of time to file a tax return with the IRS, not the tax payment itself. The IRS will still expect the full tax payment to be made by the traditional deadline. The tax estimation must also be accurate. The IRS may impose harsh penalties if the tax payment is significantly less than the actual amount due according to the final return.

When E-Filing this tax extension through Express Extension, there is an option to pay the estimated tax amount online through an Electronic Funds Withdrawal, or EFTPS (Electronic Federal Tax Payment System). Businesses are required to pay all of the taxes up front. The IRS will impose penalties and Interest on any business that pays less than the estimated tax amount.

ExpressExtension can also be used to file Personal Tax Extensions with Form 4868, and Non-Profit Tax Extensions with Form 8868. Express Extension lives up to its name in terms of speed; once a return is submitted, it is typically accepted within minutes of filing.

If you have any questions about filing Tax Extensions, you can contact the Tax Extension Experts from their US-based Customer Support Center at 803-514-5155 or send an email to support@ExpressExtension.com. They also offer online chat support during their live support hours from 8am – 6pm EST.

Tax Deadline Extended by IRS for 2012 Tax Season

January 11th, 2012
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The deadline to file personal tax returns with the IRS for the 2012 Tax Season has been extended to Tuesday, April 17, 2012. The traditional deadline of April 15 falls on a Sunday this year. Since April 15th falls on a weekend, the official deadline had to be changed. It could not be the following Monday (April 16) either due to the fact that April 16th is Emancipation Day. Emancipation Day is considered to be a holiday for the District of Columbia, and Federal Law declares that agencies such as the IRS must observe such holidays of the District of Columbia.

This will be the second year in a row in which the deadline for most tax returns will not be on the traditional deadline of April 15. Tax returns were also later last year due to the Emancipation Day holiday.

The same deadline applies to anyone filing a Personal Tax Extension as well as a normal tax return. If a Tax Extension is applied for, this does not postpone the tax payment. It only extends the time in which to file the tax return itself with the IRS.

Any taxes due must still be paid by the traditional April 15 deadline, but with a tax extension, the completed return does not need to be filed until October 15. This 6 month extension allows tax preparers and others to get the most out of any credits and refunds.

One of the easiest ways to apply for a tax extension is through www.ExpressExtension.com  The Fast and Easy-To-use System makes tax extensions simple and easy.  The entire process takes only a few minutes to complete. If you have any questions about the process, you can contact the Tax Extension Team from their Rock Hill, SC Support Center at 704.234.6000 or send an email to support@expressextension.com.

One of the greatest things about filing with Express Extension is their dedication to quality customer support.  If you have any questions about the filing process or would like a little help along the way, you can call, email or chat online with their Tax Extension team anytime from their US-Based Customer Support Center in Rock Hill, South Carolina. You can email the team at support@expressextension.com or chat with them online from the website: ExpressExtension.com  Overall, it is hard to go wrong with an easy-to-use system, a helpful team along the way, and affordable pricing options.

E-filing IRS Income Tax Extension Forms

December 21st, 2011
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Filing tax returns is unavoidable, however it is possible to delay when you file.  Express Extension offers a quick and easy way for taxpayers, businesses, and nonprofit organizations to E-File a tax extension with the IRS in just a few minutes.  Using Express Extension is much easier than the traditional filing process and it is also much quicker.

For Businesses, an IRS Form 7004 can be filed by March 15 for a 6 month tax extension.  Individuals can use the IRS Form 4868 for a 6 month tax extension which can be filed by April 15.  Nonprofits can use the IRS Form 8868 for a 3 month extension

Like our other tax products, Express Extension is written in plain English.  There is no confusing tax jargon, just a few straightforward questions.  The process is very self-explanatory and is easy to navigate through.

On top of all that, Express Extension also offers top notch customer support from our US-Based Customer Support center in Rock Hill, SC.  For any questions you can email support@expressextension.com or call us at 704.234.6000

ExpressExtension.com – E-file a Tax Extension in Less Than 10 Minutes for Less Than 10 Bucks!

December 8th, 2011
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E-file a Tax Extension with ExpressExtension.com – it’s the Best Combination of Tax Savvy Professionalism and Value-Based PricingE-file Tax Extension with ExpressExtension. Anywhere! Quick, Easy, Affordable, IRS Authorized.

ExpressExtension.com makes tax extensions easy with their simple and secure e-filing program. Express Extension is an authorized IRS e-file provider, serving the entire country. With Express Extension, users can e-file a personal or business tax extension in less than 10 minutes, for less than 10 bucks.

-The deadline for filing a tax extension is rapidly approaching.  With Express Extension, users can e-file a six month extension quickly and easily. The whole process–from sign-up to transmit–takes just a few minutes. Plus, Express Extension offers the lowest price in the industry.

-Express Extension has tons of contextual help and support windows to guide users through the process. Other tax extension programs expect users to know what every form means; Express Extension spells it out, and makes it easy. Their site is intuitive, simple, and low on confusing tax jargon.

Here’s how it works:

  •     Users quickly create an account by clicking Sign In at ExpressExtension.com
  •     They input their basic tax information into Express Extensions’ easy-to-use program, filled with helpful windows and contextual support
  •     The program walks them through the process and checks for errors
  •     A couple of clicks later and their tax extensions is sent to the IRS

-Express Extension is safe and secure. Their site is encrypted and monitored 24 hours a day.

-ExpressExtension.com is owned and operated in Rock Hill. Users can email, chat with, or call them any time. No 800 numbers or automated robot voices; real people, in this country.

A bit about e-filing

Millions of people e-file their tax extensions every year. The IRS has a digital initiative–a push to get up to 80 percent of their forms online–and tax extensions are included in that. E-filing a federal personal tax extension with Form 4868 is quick and easy. A tax extension extends the time to file, not to pay taxes (if they are owed).

ExpressExtension.com can aid users in e-filing federal personal or business tax extensions.

IRS announces top 10 tips to get more time to pay your taxes!!!

April 1st, 2011
Taxpayers who owe taxes may be relieved to know that there are some options for those who owe and can’t afford to pay the full amount right away.
Here are the top 10 things the IRS wants you to know if you need more time to pay your taxes.
1.     Taxpayers who are unable to pay all taxes due are encouraged to pay as much as possible. By paying as much as possible now, the amount of interest and penalties owed will be less.
2.     Based on the circumstances, a taxpayer could qualify for an extension of time to pay, an installment agreement, temporary delay or an Offer in Compromise.
3.     If you cannot pay the full amount, taxpayers should immediately call the number or write to the address on the bill they receive.
4.     You may want to consider financing the full payment of your tax liability through a loan. The interest rate and fees charged by a bank or credit card company are usually lower than interest and penalties imposed by the Internal Revenue Code.
5.     If you cannot pay in full immediately, you may qualify for a short amount of additional time, up to 120 days, to pay in full. No fee is charged for this type of payment arrangement and this option may minimize the amount of penalties and interest you incur.
6.     You may also want to consider an installment agreement. This arrangement allows you to make monthly payments after a one-time fee of $105 is paid. If you choose to pay through a Direct Debit from your bank account, the fee is reduced to $52. Lower-income taxpayers may qualify for a reduced fee of $43.
7.     To apply for an installment agreement you can use the Online Payment Agreement application available on the IRS website; file a Form 9465, Installment Agreement Request; or call the IRS at the telephone number shown on your bill.
8.     In some cases, a taxpayer may qualify for an offer in compromise, an agreement between the taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed. Generally, an offer will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement.
9.     Even if you set up an installment agreement, the IRS may still file a Notice of Federal Tax Lien to secure the government’s interest until you make the final payment.
10.  It is important to respond to an IRS notice. If you do not pay your tax liability in full or make an alternative payment arrangement, the IRS is entitled to take collection action.
More information on the collection process is available at http://www.irs.gov.
Expressextension.com, an authorized E-file provider can help file your IRS Tax extensions in an easier way for a very low price.

 

Why should I File an Extension For Personal Tax Return: Form 4868

February 18th, 2011

April 15 is deadline for income tax return, but there’s no way your tax return done by then. What’s a procrastinator to do? File an extension, of course. But perhaps you are wondering whether this is the best option for you. Read on to find out.

You can automatically extend the April 15 due date to October 15 by filing Form 4868, “Application for Automatic Extension of Time to File U.S. Individual Income Tax Return.” So now you have six more months to file your personal income tax return.

The nice thing about Form 4868 is that simply filing this form grants an automatic, no-questions-asked 6-month extension. You don’t have to have a reason. Just sending this form to the IRS on or before April 15 gets you the extra six months.

But here’s another important point about Form 4868: This 6-month extension is NOT an extension to pay any tax you may owe on the tax return. Form 4868 only grants an extension of time to file the tax return.
So, if you usually get a refund on your personal tax return, you are OK. But, if you think you might have a balance due, or if you are not sure, then you should go ahead and prepare the return to the best of your ability, do the calculations, and see where you stand.

If you are getting a refund, great. If you’re not in a hurry to get the refund, then file the extension form and wait until October 15 to send in the return. But if you have a balance due on the return, then you should send in your balance due with Form 4868. That way you avoid any penalty and interest for late payment of tax.
When October 15 rolls around, you send in the return, showing the Form 4868 payment as a credit. The end result is this: you paid your tax on time (April 15), and you filed your tax return legally late (October 15) because you filed the extension form on time.

Obviously, the key here is whether or not you have a balance due on your return. If you have a balance due, but don’t send in the payment with Form 4868, then you will have penalty and interest charges for paying the tax after April 15.

Bottom line: Do not overlook the fact that Form 4868 does not grant you an extension of time to pay the tax. It only gives you an extension of time to file the return.

IRS Extends Filing Deadline to April 18

January 5th, 2011
WASHINGTON — The Internal Revenue Service today opened the 2011 tax filing season by announcing that taxpayers have until April 18 to file their tax returns and tax extensions. The IRS reminded taxpayers impacted by recent tax law changes that using e-file is the best way to ensure accurate tax returns and get faster refunds.
Taxpayers will have until Monday, April 18 to file their 2010 tax returns or extensions and pay any tax due because Emancipation Day, a holiday observed in the District of Columbia, falls this year on Friday, April 15. By law, District of Columbia holidays impact tax deadlines in the same way that federal holidays do; therefore, all taxpayers will have three extra days to file this year. Taxpayers requesting an extension (Form 4868) will have until Oct. 17 to file their 2010 tax returns.
For more information regarding tax extensions for personal and business tax returns, please visit www.ExpressExtension.com.

Getting more time to file your tax return

April 9th, 2010
The IRS recently released some information about getting more time to file your tax return. You can get an automatic six month extension of time to file from the IRS. All you need to do is e-file form 4868 for a personal extension, or form 7004 for a business extension.

Here are some helpful facts from the IRS about tax extensions.

1. Extra time to file An extension will give you extra time to get your paperwork to the IRS, but it does not extend the time you have to pay any tax due. You will owe interest on any amount not paid by the April 15 deadline, plus a late payment penalty if you have not paid at least 90 percent of your total tax by that date.

2. File on time even if you can’t pay If your return is completed but you are unable to pay the full amount of tax due, do not request an extension. File your return on time and pay as much as you can. The IRS will send you a bill or notice for the balance due. To apply online for a payment agreement, go to IRS.gov and click “Online Payment Agreement Application” at the left side of the home page under Online Services. If you are unable to make payments, call the IRS at 1-800-829-1040 to discuss options.

3. Form to file Request an extension to file by submitting Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return to the IRS by April 15, 2010, or make an extension-related electronic credit card payment. For more information about extension related credit card payments, see Form 4868.

4. E-file extension You can e-file an extension request using tax preparation software with your own computer or by going to a tax preparer who has the software. The IRS will acknowledge receipt of the extension request if you file by computer.

To e-file your tax extension, visit www.ExpressExtension.com