Not Ready to File Your 1040? Get an Extension!

Okay, everyone, today’s the day! It’s Tax Day 2017, the deadline to have your 2016 personal tax return filed with the IRS.

Unless…

If you’re not ready to file, you still have options. Well, one option. Hmm, unless you decide to go rogue and not do anything. Okay, well, you have one legal option that doesn’t end in you owing lots of money in fines to the IRS. And that option is: Form 4868!

Form 4868, a.k.a. the Application for Automatic Extension of Time to File U.S. Individual Income Tax Return is just that: an application you can use to get an automatic six extra months to file your individual or joint tax return. It’s very easy to fill out; all you have to do is provide your basic taxpayer information (name, address, SSN) and an estimate of the taxes you owe or will receive as a refund. That’s it - you don’t even need to have a reason for why you need more time to file.

Keep in mind that if you’re filing a joint personal tax return, you can still use Form 4868, but you will need your spouse’s taxpayer information (name and SSN as it appears with the IRS) as well. You’ll also want to keep in mind that Form 4868 only extends the amount of time you have to file your tax return forms; it doesn’t extend the deadline to pay any taxes you may owe.

Now, Form 4868 is also due today, but as you can gather from the information needed, it won’t take nearly as long as completing your 1040 Form. In fact, if you e-file it with our sister product, ExpressExtension, you’ll be done in just a few minutes and receive email confirmation of your extension from the IRS within 15 minutes to an hour!

So what are you waiting for? Stop rushing through that 1040 and take a break to go file your 4868 application form. Then, you’ll be able to come back to your tax return anytime between now and October and finish it when you can give it the attention it deserves. Because goodness knows the IRS isn’t crazy about incorrectly completed or filed returns.

If you have any questions about getting started with ExpressExtension, give us a call and we’ll connect you with one of the friendly EE team members, or contact them directly at (803) 514-5155.

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Protect Your Tax Return from Theft and Fraud

When we think about tax season damages, we’re usually thinking about our wallets. Unfortunately, as some people may have already found out the hard way, paying any taxes owed can end up being the least of your worries during tax season.

Tax-Related Identity Theft
With so many individuals sending personal information to the IRS, whether by e-filing or paper filing, the identity thieves are coming out to play. Typically, tax-related identity theft occurs when someone uses your Social Security number to file a tax return, claiming a fraudulent refund. But it’s not just a matter of protecting that SSN (although you should definitely do that); April is prime time for phishing scams and fraud, and the IRS already has a list of known schemes scammers use to compromise your identity and tax return/refund.

These scams don’t just affect you: fraudulent returns are a hassle for the IRS as well. That’s why the prevention and detection of fraud is one of their highest priorities, and why they provide victim assistance. If you think you’ve been a victim of tax-related identity theft, check out this IRS article so you can begin taking steps to re-secure your identity.

How to Protect Yourself
The main thing to remember anytime you’re reporting personal information, whether it’s to the IRS, your doctor, or even when you’re shopping online, is always to remain vigilant against illegitimate sources. Just as you wouldn’t hand over all of your personal info to a stranger on the street, you don’t want to do so online either. So here are a few tips for keeping your identity secure when you e-file this year:

• If the IRS emails you, it isn’t the IRS. The official IRS will contact you if there are any issues with your return via snail mail. If you do get a suspicious email claiming to be the IRS, forward that email (without opening it, if you can) to phishing@irs.gov.
• If the IRS asks for your credit card information or PIN by email, text message, or over the phone, it isn’t the IRS. Most of the time, the IRS doesn’t even accept credit cards for payments, only checks or Electronic Funds Withdrawals.
• Avoid opening any links or attachments in emails you receive from unfamiliar sources and be wary of ones from known sources. Basically, don’t open anything sent to you in an email unless you’re 100% sure that it’s legitimate.
• When using a public Wi-Fi hotspot, avoid logging into anything with sensitive information because others using the network could hack into your credentials or data.
• Always logout of sensitive sites and services when you’re finished, don’t just close the webpage. Additionally, while it may be convenient to have your browser remember your login credentials, this also makes it easy for hackers to enter your account.
• When handling sensitive information, don’t use the same computer your kids use. Many phishing scams are targeted at kid-oriented sites and services, so it’s much more likely the computer they’re playing on has been compromised in some way.
• Take extra security measures: it’s always better to be over-protected than to risk exposing your identity online.
• Use strong, unique passwords, and if you think you might forget them, store them in a safe place away from your computer. 
• And before you start entering any sensitive data, check for the padlock icon in front of HTTPS (instead of HTTP) in your web address bar. This indicates the site you’re using is secure and encrypted, making your information safer.
• Limit your exposure to threats with security tools like antivirus software, and, above all, be skeptical. As it’s been proven time and time again, if something seems too good to be true, it probably is.

We’re five days away from the personal income tax deadline (April 18 this year), so if you’re last minute e-filing, ensure that your identity is still safe by not rushing through your security checks. If you’d like more time to make sure you can get everything filed safely, you can e-file a personal extension Form 4868 (securely!) through our sister site, www.ExpressExtension.com.

Questions for ExpressIRSForms? You can give us a call Monday through Friday, 9:00 a.m. to 6:00 p.m., at (704) 839-2270, or send us an email anytime at support@ExpressIRSForms.com.

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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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