Monday, April 11, 2016

There's Still Time to Extend Your Tax Deadline!

The 2015 tax filing deadline is just a week away: April 18, 2016 (April 19 for Maine and Massachusetts). But if you’re not ready, there’s still time to get more time!

Extension Form 4868
Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, can extend your personal filing deadline from April 18 to October 17 when filed by next Monday. You can file for an extension using Form 4868 if you usually file one of these tax return documents:
-Form 1040               -Form 1040A               -Form 1040-EZ
-Form 1040NR         -Form 1040NR-EZ      -Form 1040-PR
-Form 1040NR-SS

It’s Time to File, Not Time to Pay
The fine print on Form 4868 - and most other IRS extension forms - is that this form only offers an extension of time to file that other form you need to file, not pay the taxes you owe (if any). This means when filling out Form 4868, you’ll need to give an estimate of how much you’ll be paying back to the government, or indicate that you either don’t owe anything or are eligible for a refund. If you do owe taxes and they aren’t paid by April 18, you could be penalized and charged interest for late payments.

E-filing Form 4868
Of course, e-filing is the quickest way to submit Form 4868, but did you know that the easiest (and also best) way to e-file 4868 is with our sister product, ExpressExtension. It breaks 4868 down into easy-to-follow steps, and even allows you to pay all or part of any taxes owed before you transmit your form. Once your extension’s been approved, you’ll receive an email from us letting you know, usually within 15 minutes of filing.

Not to brag, but this email notification’s kind of a big deal. When you file 4868 directly with the IRS, they don’t send you any sort of notice that your extension request has been approved, rejected, or even received. This leaves you to either a) assume your form was accepted (and potentially face the consequences for assuming), or b) call the IRS and maybe, eventually, get in touch with someone who can tell you the status of your extension.

The Information You Need to File
Filling out Form 4868 is relatively easy as far as IRS documents go. In addition to your tax owed estimate, you’ll need to enter your name, address, and social security number. Not too bad, right? But watch out if you’re filing jointly: it can get a little confusing as you’ll need to know your spouse’s name, address, and social security number as well.

And If You Have Questions
While technically Form 4868 is ExpessExtension territory, you can still give us a call with questions regarding e-filing if you prefer! We’re available Monday through Friday, 9:00 a.m. to 6:00 p.m. EDT by live chat and phone, (704) 839-2270. Or send us an email at support@ExpressIRSForms.com. But, if you’d rather you can also call ExpressExtension at (803) 514-5155 or email them at support@ExpressExtension.com!



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