Too Late to File Taxes? These are the Basics of Requesting a Tax Extension
Today, most people are pushed in different directions before the tax filing every year. When it comes to individual tax filing, you may have the best intentions to ensure income tax is filed before the deadline and meets all requirements but a few elements often creep in that create complexities.
When you're not ready to file, it might make you conflicted about how to request an IRS extension online. Despite your reasons for not being able to file taxes, understand that the IRS is aware of the realities and changing dynamics around filing taxes. It is the main reason there is an online extension option for individual tax filers.
Now you can extend the tax return timeframe through an electronically-supported e-filing service. It only takes a few minutes to file a six-month tax extension online.
The Need to File Your Tax Extension
You can now leverage the IRS extension online option. It is the most effective and secure way for personal tax filers who may not have been ready and want to request a tax extension. But there are many reasons why people often miss out on filing taxes and get a tax extension.
Contrary to nave misconception, the IRS understands that planned elements often don't pan out and people require extra time to file tax returns.
You can request an IRS tax extension online for the reasons below, but really for any reason:
- You require extra time to file tax returns accurately
- When you determine that a few tax filing documents are incorrect or missing and require additional time to rectify.
Remember, getting a tax filing extension wouldn't work if you're unable to make payments before the deadline. In fact, the extension works like another deadline so individuals can file their taxes rather than avoid them.
Understand that you still have to pay any taxes owed by the deadline, even if you do get an extension online. However, its important to note that when you obtain a tax extension and owe tax, you will avoid the costly failure to file penalty as a result of having filed your extension.
Submit Your Tax Extension for Free
You can submit your tax extension for free by printing and mailing it to the IRS. Well show you how! Or if you're looking for a faster response, you can e-file your online tax extension to digitally request an automatic extension. When it comes to getting a tax extension, folks have to calculate their tax liability on a free file form and pay the amount due.
Filing Your Own Tax Extension Online
Whether you want more time to file your tax returns or feel you wont be able to file taxes on time requesting an IRS tax extension makes perfect sense. In fact, requesting a tax extension to file taxes is more common than individual tax filers realize.
Besides, the IRS has made filing and reporting taxes easier. Personal filers can now get all the tax forms they need from the IRS site to file taxes. But when you need more time to sort out a tax filing issue or require help, you don't have to spend a lot of money on hiring an expensive accountant. Instead, individual filers can get a legit tax extension online.
Requesting a Tax Extension
When you believe that you wont be able to file your tax returns before the deadline it is time to get an extension. But don't generalize a tax extension since it works differently for different tax filers.
How Different is Requesting and Filing for a Tax Extension as an LLC, S-Corporation, or a Partnership?
- Multi-member Limited Liability Companies and partnerships need Form 1065, whereas S Corporation requires Form 1120 to file a tax return.
- Partnerships, S corporations, and LLCs use IRS Form 7004 to get an automatic tax extension and file specific business income tax and other returns. Once you fill out and submit this form it will work as a request for a tax extension.
- Whether its an S corporation or LLC - these companies don't get taxed on the entity level. As a business partner or an LLC member, you don't have to send an estimated tax payment along with the Form 7004 extension. The right course of action is to file a tax extension for Form 1040.
- With a tax extension, you can calculate the income that will be part of your tax return and cover the estimated tax amount via individual extension. When filing an individual extension, use Form 4868 to pay the estimated tax.
Get More Time When You Need It
If you want to request an IRS tax extension, you need to take proactive action. IRS supports numerous reasons why you're unable to file taxes before the deadline. But remember that an extension for personal tax filers is not an exemption from filing federal taxes.
Why IRS Extension Online?
With IRSExtension.Online, an e-file service provider, you can submit your online request, confirm receipt, and get custom support at a nominal fee. So, the next time you're not ready or late to file tax returns, take a sigh of relief knowing that you can extend your annual tax return.
IRSExtension.online is an e-file service provider that holds an A+ BBB rating and together with its parent company, has created over 1 million accounts. With IRSextension.online, you can count on our professional service to ensure your data is safe and safe.
Whether you are an individual filer, or a business filer, if you need more time to prepare your taxes, opt for a dedicated IRS extension online service such as ours that will help you file a tax extension and deliver instant digital confirmation.
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