Category Archives: Extension form

It’s April 18th – Tax Day! E-file for an Extension Today!

Extension

 

 

“It’s tax time. I know this because I’m staring at documents that make no sense to me, no matter how many beers I drink.” – Dave Barry. The day Dave was quoting is today. YES! You read that right, Today April 18th, is your deadline to file and pay your Personal Income taxes. Not everyone is prepared to file their Personal Income Taxes, due to lack of paper work or lack of time. Continue reading →

Buy More Time to File your Personal Income Taxes by Efiling Form 4868!

Tax-ExtensionTime and tide waits for no one but you can make your Personal Income Tax filing Deadline wait for 6 months by simply E-filing Form 8468 through www.Extensiontax.com .IRS form 4868 is officially termed as the “Application for Automatic Extension of Time to file U.S Income Tax Return”.  This is a tax extension form designed for individuals filing for income tax to the IRS. Any individual has the benefit of getting a tax extension for the tax form listed below:

 

  • Form 1040
  • Form 1040A
  • Form 1040EZ
  • Form 1040NR
  • Form 1040NR-EZ

Form 4868: Continue reading →

Know More about Automatic Extension Form 4868

Businesses and individuals not having enough time to report their income taxes usually take the option to file for an extension, thus giving them additional time to file their income tax return. However, it is essential to keep in mind that the additional time given is for filing tax return and not for paying what one owes to the IRS. To get your tax extension immediately, it is advisable to file online and with an authorized service provider like Extensiontax.com. It is true most of them would be aware of the rules of filing an extension but there are few things to be clear about, as discussed below: Continue reading →

Preserve Your Documents! It’s Useful in Times of Need

You never know or even think when a natural disaster would knock at your door. Nothing lies in our hands and the wrath of nature cannot be escaped. Natural disasters happen unexpectedly also affecting the lives of many Americans every year. With the cyclone hitting Oklahoma and nearby counties recently has left a massive impact on the minds and hearts of people. Although, the loss is unimaginable but not keeping the record safe can incur more losses. Therefore, it is advisable to keep the credentials handy and at a proper place.

There are several documents that taxpayers should keep a backup such as bank statements, certificates, tax returns, etc. The reason for maintaining their documents is that it gives them the benefit of accessing them whenever required. Additionally, we should keep them safe from the dangerous after-effects of the wind, rain, and snow. Recordkeeping is a good habit and comes as a great rescue in times of need. There are numerous ways suggested by the IRS to keep the documents safe and protected, as discussed below:

  • Save Your Documents Online:

One of the best places to keep your documents in a place where it is easy to access is to save them electronically. Most companies and banks send payment receipts electronically, which makes it easy and possible to save them online. However, individuals also have the option to scan their documents and save them in their email id. Saving files electronically is one of the simple and easy ways to create a backup of all the important documents.

  • Document the Essential Valuables:

Another useful for creating a backup of their documents is by taking photographs or creating video. Recording the credentials through photographs or making video can help individuals know the true value of the documents, thus making it easy for them to claim refund. The ‘IRS disaster loss workbook’ is another way where taxpayers can assemble the required documents. Click here for more details

  • Take Help from the IRS:

When a disaster strikes taxpayers need can call the IRS to get complete information on disaster-related issues. Moreover, requesting the IRS might help them get copies of their previous tax returns, which can be attained through form 4506.

Individuals residing in the affected areas generally get an extension by the IRS but, they can also get a tax extension by filing through extensiontax.com, a leading E-file service provider. Reach us at 1-866-245-3918 to get all your queries answered.

 

Time is Running Out! File Today for Exempt Organization Tax Extension

IRS Form 8868: A Brief Understanding

IRS form 8868 has been designed for exempt organizations wanting for 3 months extension for filing their tax return. Moreover, these organizations can apply for an additional (non-automatic) 3 months extension if those three months are not enough for them. However, it is not possible for organizations to file for both automatic and non-automatic extension concurrently The due date to file for an extension through form 8868 falls on May 15th, 2013.

The exempt organizations that qualify to file for form 8868 are charitable organizations, churches and religious foundations, political organizations, private foundations, contributors, etc. Exempt organizations who wish for an extension can both e-file and paper file form 8868 but, it is advisable to choose the former over the later so that the filing process can happen quickly and efficiently. Moreover, filing online saves time, reduces the chances of making errors, and much more. The following forms should be used accordingly when filling for an automatic extension through form 8868.

  • Form 990: This tax return form is for some federally nontaxable organizations . To add to your knowledge, non-profit organizations that have not received the status of tax exempt, faith-based organizations, religious schools, subsidiary organizations, etc. need not have to file for an extension through form 990.
  • Form 990 BL: This extension tax return form is for the ‘information and initial excise tax return for black lung benefit trusts and certain related persons’. Tax filers should keep in mind to file form 990 BL by the 15th day of the fifth month keeping in mind the filer’s tax year.
  • Form 990 EZ: This form is an information return filed annually by organizations exempted from income tax along with political organizations and charitable trusts. Tax filers should remember to file by the fifteenth day of the fifth month to get an extension.
  • Form 990 PF: Charitable trusts and non-exempt organizations such as private foundations need to file for an extension using form 990 PF in IRS form 8868.
  • Form 990-T: Businesses involved in charitable trusts come under the exempted organizations list. To get an automatic 3 months extension businesses should file for form 990-T in form 8868. The extension  tax return should be filed by the fifteenth day of the fifth month and before the tax year ends.
  • Form 4720: This is ‘return of certain excise taxes under chapters 41 and 42 of the Internal Revenue Code’. Usually business organizations including certain foreign organizations should file for extension through form 4720 in IRS form 8868. Businesses and individuals should file before the 15th day of the fifth month.
  •  Form 6069: This form is like a worksheet, which is filed by individuals and organizations to report the excess contribution to black lung benefit trust. Tax filers should file before May 15th to get an extension.

The aforementioned pointers provide a brief overview of form 8868 and the several forms that fall under this tax extension form. Visit ExtensionTax.com to get an automatic extension up to 3 months for filing exempt organization tax return.