Get the Most From Your Extension

Receive Time to File, Not to Pay – Tax extensions will only grant you extra time to file your actual tax return. If you owe any taxes to the IRS, you are responsible for paying on time whether you’ve been approved for an extension or not. The IRS urges you to go ahead and file your return if completed, rather than filing an extension because you can’t pay. The “Failure to Pay” penalty is less harsh than the penalty for “Failure to File.” The amount of taxes you may owe is known as your estimated tax liability.

For more information about estimated taxes, check out the following blogs:

• Calculating Estimated Taxes
• Paying Your Estimated Taxes

Pay the Taxes You Owe – Along with filing your tax extension, you also have various options of paying any estimated taxes at the same time. You can submit your payment through the Electronic Federal Tax Payment System (EFTPS), or with Electronic Funds Withdrawal (EFW) which requires either your checking or savings account details.

For more information about paying any tax liability, check out these blogs:

• 3 Ways To Pay Your Estimated Tax
• 6 Tips to Pay Your Tax Bill This Summer
• Electronic Federal Tax Payment System (EFTPS)

Maximize Tax Deductions – Since you have more time to prepare your tax form, why not increase your chances for a larger tax return by finding new deductions that you qualify for? Unexpected deductions can be found in the form of work-related expenses, or even moving fees. With your approved extension, it would be best to consult with a tax professional about your expenses during the tax year.

For more information about tax deductions, click on the following links:

• Tracking Your Tax Deductions
• Personal Tax Tips: Job Hunt Expenses
• Comprehensive Guide to Tax Deductions

As you can see, tax extensions can be used for a lot more than just a last minute option to avoid late filing. With ExpressExtension, you can quickly and easily e-file a tax extension within minutes and receive instant approval from the IRS. You can also pay for any tax liability with ExpressExtension through our EFW option. We even offer mobile e-filing with our FREE iOS/Android app for personal tax extensions, and our mobile site for exempt organization extensions; you don’t even have to be in front of a computer.

For any questions or assistance with e-filing your tax extension, you can call our live professionals by phone (803-514-5155, Monday through Friday from 9 a.m. to 6 p.m. EST), email ([email protected]), or live chat (www.expressextension.com).