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What you need to know about Tax Extensions?

February 25th, 2012
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Filing a Tax Extension is very easy to do when you use ExpressExtension.com.  All that is needed to file this is a basic E-file IRS Tax Extension Forms with Expressextension.com for just $9.95knowledge of your business.  Here is a recap of what the IRS requires to submit a Tax Extension for a Business, Individual, or Nonprofit Organization.

IRS Form 7004:  This form is used by businesses such as Multi-Member LLCs, C Corporations, S Corporations, Partnerships, Trusts, and Estates.  This is commonly referred to as a form for Business Tax Extensions.  This IRS Form gives a Tax Extension of 5 – 6 months.

IRS Form 4868:  This IRS form is used for filing Individual or Personal Tax Extensions.  This can be used to extend the tax deadline by 6 months for personal returns, 1099 Contractors, Sole Proprietorships, and Single-Member LLCs.

IRS Form 8868:  Non-Profit and Exempt Organizations can use the Form 8868 to apply for an automatic 3 month tax extension or a non-automatic additional 3 month extension.

Tax Extensions:  Filing a Tax Extension with the IRS extends the amount of time to file a Tax Return.  It does not extend the amount of time to pay taxes.  The IRS will still expect a tax payment to be made by the traditional filing deadlines, but the tax return itself is not required until the extended deadline.

Filing Status:  If you are filing a business or nonprofit tax extension, it is required to list your business or organization type and the specific tax return form that will be filed.  Likewise, if a person is filing an individual tax extension, it is required to list your filing status (married filing jointly, single, married filing separately, etc.)

Business Tax Year:  Although it is common to use the calendar year as the business tax year, that is not always the case.  If a business follows a different tax period, that will need to be specified.  Also if a business was started or ended during the year, its tax period may be shorter than a full year.

Estimated Tax Amount:  A Tax Extension extends the amount of time to file a tax return.  It does not extend the amount of time to pay taxes.  Therefore, the IRS will still expect the full tax payment at the traditional deadline.

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.

IRS Tax Extensions for 2012

January 21st, 2012
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Each Tax Return is unique to the person filing, and each year there seems to be more and more information to organize. Although your tax return may have been simple in previous years, it usually gets more and more detailed each year. For every major life event, taxes can get more complicated. For example, if you have a child, adopt a child, buy a house, pay for college, or start a business (these are just a fraction of the possibilities) your taxes become more complicated.

Due to the increased complications involved in filing a tax return, each year more and more people are filing Tax Extensions for their Personal, Business, or Non-Profit Tax Returns. The IRS accepts Personal Tax Extensions by filing a Form 4868. This allows individuals 6 additional months to file their tax return. Business Tax Extensions are filed with the IRS by using Form 7004. This allows businesses an additional 5-6 months to file their tax returns. Non-Profit organizations can also extend their tax deadline by filing an IRS Form 8868. This provides Non-Profit Organizations an automatic 3 Month Extension. They may then file for a Non-Automatic additional 3 month extension after that.

These fantastic options allow individuals and businesses to properly organize all of their necessary tax documents so that they can be sure that they are receiving the appropriate Tax Credits, and paying the right amount. Tax Professionals appreciate it when people file for an extension, rather than bombard an already busy person with much more work on the busiest week of their year. This is another incentive for individuals and organizations to file for a tax extension; accountants and tax professionals are less busy in the summer months than in April. Most tax preparers are neck deep in paperwork by the time the tax deadline rolls around.

Fortunately, these IRS Tax Extension Forms can also be E-Filed online. ExpressExtension.com allows Individuals, Businesses, and Non-Profit Organizations to file Tax Extensions with the IRS. The beauty of E-Filing is that there is no need to leave your home or office, buy postage, or risk it getting lost in the mail. According to the IRS, E-Filing is the easiest, fastest, and most secure way to file any IRS Form.

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.

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.