Tomorrow is the Deadline to File Personal and Business Tax Returns!

File an Extension to Avoid Potential Penalties.

We all know tax day is coming, but sometimes life gets in the way and filing falls off of our “to-do” list. If you have found yourself in this situation, there’s no need to panic. You still have time to file an extension. 

This is a great option for avoiding IRS penalties for late filing. Here’s what you need to know to get ahead of your personal or business tax filing deadline.

Which Forms are Due on April 18th?

There are actually several forms due to the IRS tomorrow. The most common is the deadline for filing a personal tax return 1040. 

Additionally, it is the deadline to file certain business tax returns. This includes,

• C-Corp tax Return – Form 1120
• Trusts and Estates Tax Return – Form 1041

For more information about all of the tax forms that are due April 18, click here.

With the deadline just a day away, now is the time to file an extension!

Automatic Extension for Certain States Impacted by Storms

The IRS has announced tax relief for individuals and businesses in certain states that have been impacted by storms and tornadoes. This means that individuals and businesses in these areas are granted an automatic extension of time to file their tax returns.

Here is the list of states, the areas that are eligible for tax relief, and their extended deadlines,

• Alabama
  
  • Eligible areas –   Autauga, Barbour, Chambers, Conecuh, Coosa, Dallas, Elmore, Greene, Hale, Mobile, Morgan, Sumter, and Tallapoosa counties.
    
  • Extended deadline – October 16, 2023

• Georgia
  
  • Eligible areas –   Butts, Crisp, Henry, Jasper, Meriwether, Newton, Pike, Spalding, and Troup counties.
    
  • Extended deadline – October 16, 2023
    
• California
  
  • Eligible areas –  Alameda, Colusa, Contra Costa, El Dorado, Fresno, Glenn, Humboldt, Kings, Lake, Los Angeles, Madera, Marin, Mariposa, Mendocino, Merced, Mono, Monterey, Napa, Orange, Placer, Riverside, Sacramento, San Benito, San Bernardino, San Diego, San Francisco, San Joaquin, San Luis Obispo, San Mateo, Santa Barbara, Santa Clara, Santa Cruz, Solano, Sonoma, Stanislaus, Sutter, Tehama, Tulare, Ventura, Yolo, and Yuba counties
    
  • Extended deadline – October 16, 2023

• Tennesse
  
  • Eligible areas –  Cannon, Hardeman, Hardin, Haywood, Lewis, Macon, McNairy, Rutherford, Tipton, and Wayne counties.
  • Extended deadline – July 31, 2023

• Arkansas
  
  • Eligible areas –  Cross, Lonoke, and Pulaski counties.
  • Extended deadline – July 31, 2023
    
• Mississippi
  
  • Eligible areas –  Carroll, Humphreys, Monroe, and Sharkey counties.
  • Extended deadline – July 31, 2023
    
• New York
  
  • Eligible areas –   Erie, Genesee, Niagara, St. Lawrence, and Suffolk counties.
  • Extended deadline – May 15, 2023

Remember, this automatic extension is only for those who reside in or operate their business in eligible areas. Other businesses and taxpayers should still file Form 4868 and Form 7004 if they need more time to file their personal and business tax returns.

Personal Tax Extension Form 4868

If you feel that you need more time to prepare your personal tax return, you can file Form 4868 to request an extension of up to 6 months.

The great news is that the extension is automatic! You don’t even have to provide a reason for the IRS to request this extension. This extension is automatic.

Business Tax Extension Form 7004

If your business has a tax filing deadline on April 18, 2023, and you need more time, then it’s time to file an extension Form 7004 to get up to 6 months of additional filing time.

Just like the personal tax extension, this extension is also automatic, and there is no need to provide a reason for the IRS to request this extension. Just file your extension accurately and before the original filing deadline.

Note: Both these extensions do not apply to tax payments. You are still required to pay any taxes due on or before the original deadline.

Ready to begin e-filing your extensions and extend your personal and business tax deadline? 

Get started today with ExpressExtension!