Hey, Hey, Hey, Today is the day! For those of you who filed a Personal Tax Extension Form 4868
back in April, you must file your completed personal tax return with the IRS today before midnight local time.
If for some reason you aren’t prepared to have your tax return filed by the end of the day, you may incur those dastardly penalty fees. Generally, the penalty fee is 5% of your unpaid taxes for each month, or part of the month, you’re late. The maximum penalty is up to 25% of your unpaid taxes; however, if you’re more than 60 days late with your return, your fee could be $135, or 100% of your unpaid tax, at minimum!
Today only applies to those of you who filed a Form 4868 earlier this year. If you filed your tax return by the original deadline, but felt an unnecessary amount of pressure or stress doing so, then you might want to consider filing a personal tax extension during your next tax season.
An extension for personal tax can be used for federal income tax returns, independent contractors, sole proprietorships, and single-member LLCs. As for the different variations of federal income taxes, you can file an extension for any of the following forms:
The best aspect about filing an extension is that you really don’t need to provide an explicit reason to do so; however, you’re only extending your time to file. You are still required to pay any owed tax by the original due date. Filing an extension is simple and only requires the following information:
- Social Security Number
Married couples who file jointly will also need to provide the same information for your spouse.
Important: Don’t forget to file your personal tax return today before midnight local time.
For those already thinking about next year, give yourself extra time by e-filing your personal tax extension with ExpressExtension. Your extension can be e-filed in minutes, and we have specialized help videos that can show you how quick and easy the process is.You can even e-file away from home with our FREE Express4868 App for iOS and Android devices.
Live professionals are available for questions or assistance at our Rock Hill, South Carolina office. Feel free to call (803.514.5155, Monday – Friday, 9 a.m. – 6 p.m. EST), email ([email protected]), or chat with us (www.expressextensions.com).