Stop worrying about tax return. File a Tax extension and extend your tax date.

tax master By tax master, 18th Jan 2012 | Follow this author | RSS Feed | Short URL
Posted in Wikinut>Money>Tax

Stress, tension, anxiety, sleepless nights, they are all synonymous to tax season. It's no surprise when people have to pay huge penalties for late filing because they miss out on the date or don't have enough documents to file their tax return on time. But now, there is no need to pay those penalties. There is a solution

Efile IRS tax extension (form 4868 and form 7004)

Every year brings new tax season and along with it great stress and anxiety among tax payers. Why? Because tax season means collecting tax papers, doing complex calculations, contacting IRS and etc. Result? Stress, time consumption and more stress. Did you know that during the tax season, most of the people lose on their sleep and hence suffer health consequences?

If you are going through the same situation then I say stop NOW. Your health and peace of mind is more important. Keep your papers aside, stop all your calculations and relax. You don’t have to stress over your taxes because you have the option to get your tax return due dates extended by 6 months. Yes, you heard it. You have till October 15th to file your tax return. Wondering how is this possible? Simple, get hold of tax extension form and file it with the IRS.

There are 2 types of tax extension forms.

Personal tax extension (form 4868) – This form is used by individuals, single member LLCs, sole proprietors, 1099 filers and etc to get an automatic 6 month extension on their tax filing due dates. Efile form 4868 and say goodbye to your April 17th tax return deadline.

Business tax extension (form 7004) – This form is used by corporations, multi member LLCs, partnership firms and etc to file their business tax returns on a later date. If you think that you won’t be able to collect all the tax papers to file your return by the due date, go for IRS tax extension. Refer to the tax extension deadlines for 2012 for further details.

NOTE: many people believe that filing for tax extension will give them more time to pay their taxes. However, that is NOT true. Getting a 6 months extension to file your tax return does not allow you more time to pay your taxes. If you think you owe IRS taxes, make sure you pay them along with your tax extension form 4868 or form 7004

There are 2 methods to file for tax extension:

Paper filing method and Electronic filing method

Many years back, paper filing was the only option to file tax returns and extension but due to its complexities and disadvantages, IRS introduced the efile method which is highly recommended worldwide. Want to find out how?

If you opt for paper file method for tax extension filing, you would first have to purchase the form, fill in the form (search Google for tax extension instructions). Do complex calculations to find out tax amount due to IRS, post the tax extension form back to IRS along with your tax amount cheque and even if your tax extension is approved, you won’t get any acknowledgement from IRS.

Imagine the complexities paper filing carries with it, along with huge costs and time consumption. Besides that paper file depletes our environment. Every year thousands of trees are sacrificed so that more and more paper can be produced. But if you stop paper filing, it would be a boon for the environment.

Electronic filing, on the other hand is super quick, easy and secure. Moreover, if you efile tax extension, then IRS will also provide you acknowledgment via email within few days. Efile is fast, saves time and is cost effective.


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author avatar tax master
Passionate writer, who enjoys writting on topics such as finance (business, personal), taxes and small business

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author avatar Mikey.
19th Jan 2012 (#)

Thanks Tax,Wish i was paying loads of tax,It would be great earning all that money.

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author avatar ittech
28th Jan 2012 (#)

well written

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