What is an Individual Tax Extension?
If you are worried you will not get your tax return done on time, you have come to the right place. There is a way for you to get more time to finish your tax return and you can do this by submitting form 4868 to the IRS by the date your taxes are normally filed Tax2efile offers a very easy, quick, and affordable way for you to submit this form electronically.
What does the Form 4868 do?
The Form 4868 is a form you fill out and submit to the government asking for up to 6 months more time to send it in. There is no need to send in a reason either, they will grant you the extension automatically unless you are court ordered to have your taxes done on time. If you are an April 15th (April 17th if you live in Maine or Massachusetts) filer, like most of us are, you will get until October 15th to finish your taxes. If you are not in the country at the time the tax season is due, you automatically get a two month reprieve, without even filling out the form 4868. Then if the two months are not enough you can then fill out form 4868 and check box 8 for being out of the country, this will get you four more months to turn in your tax return 1040
What if I do not fill out Form 4868 and I am late?
If you choose not to fill out form 4868 and miss the deadline for your tax return, the IRS will start charging you interest immediately. You may also be charged with a failure to file penalty, which is over 5% a month all the way up to 25% of your tax bill. If you do not file within 60 days of the due date, you will be automatically fined $135 above the other charges. So if you are not ready to turn in your tax return, filing form 4868 is the best choice to avoid all the late charges. However, just because you can file your actual return late does not mean you can pay the tax owed late as well. There is no extension in paying the taxes, for this form you must estimate taxes that need be paid, then pay them or you will be fined. You need to be able to provide a good estimate based on basic numbers you have as to not be far off when you file your real tax form. You will get a penalty if the numbers are not close to matching on your real IRS 1040 form.
Tax2efile can help you every step of filling out and filing form 4868. We are an official E-File provider approved by the IRS to give you 6 more months extension. You do not need to worry about anything because after Tax2efile files your return you will get conformation immediately, through email that your extension has been approved.
Register now or get in touch with us if you have any queries at www.tax2efile.com