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What to Do After You File a Tax Extension? Form 4868 Extension

As the topic most of the taxpayers doubt what to do after filing the tax extension. After filing the extension, the first thing to do is, to pay the owed taxes to the IRS. The extension is made only for filing the tax returns, not for paying the owed taxes. When the IRS did not accept the tax extension, then you must file the tax return quickly even though if you cannot afford to pay the taxes...

Filing Form 4868 for a Small Business Tax Extension

When you realize that your tax papers are not ready and mid-April is approaching to file the business income tax return, you can file IRS Form 4968. Even the IRS understands the situation of the taxpayer and offers the automatic extension of time to file the tax return. But, IRS 4868 Form is used for an automatic extension to file the personal tax return. You may use this form when you report Schedule C along with your...

Additional Extensions of Time to File a Tax Return

A tax payer cannot request a second extension to file a personal income tax return with the IRS. Instead, the tax payer can request an automatic extension of time by filing Form 4868, this will grant the tax payer an extra 6 months to file the tax returns. Earlier, the tax payer could request an automatic 4 month extension followed by 2 month extension. Form 2688, which was used to request the second extension is no longer...

IRS Offers Last-Minute Tips for Who Haven’t Filed Individual Income Tax

When you are not able to file your icone tax returns by the due date, you can opt for an extension. But remember, a 4868 extension provides the grace period until Oct 16th but this does not extend the time to pay the tax. Interests and penalties will be included in all taxes which are not paid by the deadline April 18. In few scenarios, federally declared disaster area gets a 6-month extension automatically and people need...

Top Reasons to File Personal Tax Extension Form 4868

There are many reasons to request an extension for filing the income tax returns by the IRS. The important news is that you no need to provide any particular reason for filing a 4868 extension. When you submit the IRS 4868 tax form extension to the IRS, it is reviewed and the IRS grants you an automatic 6-month extension to file your personal income taxes. Usually, all the federal income tax returns are due on April 15thor...

Everything Need to Know about Filing a 4868 Tax Extension

When the income tax filing due date is fast approaching and you need some extra time to file your 4868 taxes, you are left with one more option of Form 4868. Yes with IRS Form 4868 you can file an extension, which is inexpensive, simple and gives you 6 months extra time to file your tax return. Form 4868 is an application for Automatic Extension of Time to File U.S. Individual Income Tax Return. Form 4868 Income...

Goodbye 2016 Tax Season! What Records Should I Save Securely?

Now it’s time to get some air, as the tax filing deadline has passed away. But before making your tax file papers flying in air note how long you need to keep those papers safe. It is not just filing your tax return and submitting before the due date. You must keep the documents safe for future reference if needed. Keep the tax information, documentation, and copy of your tax return without fail. 3 Year Limitation by IRS:...

Tax Extension for Small Business by Filing Form 4868

IRS 4868 extension is used for filing the 6-month automatic extension time application of personal tax returns. This 4868 form includes the Schedule C for the single member limited liability company sole proprietorship. It is not necessary for you to file separate extension for business in such situations. The profits accumulated from business get included in the total tax owed by you, therefore you include calculations of the business tax loss or profit along with other calculations for...

Personal Tax Extension – Request 6 Months to File your Taxes

Generally, personal tax returns are required to be postmarked or filed by 18th April. In case you are not able to file within the stipulated time, you will have to face a late filing charge of around 5% on the tax amount that you actually owe. The amount is added to the tax balance for the month that you do not file. Apart from the late filing charge, there are fees and interests that also need to...

How to E-file a Form 4868 Extension Online

If you do not have the ability of completing your income tax return within 15th April, there are some important tips that you can follow in trying to find out when and how to file for IRS tax extension. Prior to filing for IRS tax extension, it is necessary for you to ensure that the extension is perfect for you. Some common reasons behind pushing the deadline back are: • You need more time for tracking down...