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IRS Form 4868 - Application for Automatic Extension of Time To File U.S. personal Income Tax Return, is used to for an additional 6 months to file form. Filing an individual tax extension will extend your tax deadline.
What is Tax Extension? If additional time is needed to file a tax return with the IRS. An IRS tax extension is meant to extend the amount of time that a person has to file a return. It does not extend the amount of time to pay the taxes due. The IRS will still expect to receive the estimated tax amount upon the deadline. What does an extension do? Tax extensions are IRS supplementary forms to apply for an extension of time, not an extension to pay taxes. To extend the time to file taxes, you'll need to file Form 1138, which you can get from the IRS. Filing a Tax Extension with the IRS can delay your tax return deadline by up to 6 months. The IRS is now accepting this online through E-Filing. There are several forms that can be filed for this. The IRS Form 7004 can be filed for businesses wishing to extend their tax return deadline. For individuals that need a tax extension, they can use the IRS Form 4868 for a 6 month extension. Non Profit organizations are not exempt from being able to file this form either. Nonprofits can file the IRS Form 8868 for an automatic 3 month extension, followed by an additional 3 month extension if needed. Here the Topic about IRS Form 4868. IRS Form 4868: A personal tax extension uses Form 4868, officially called an Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. The keyword here is Automatic. If you don't think you'll be able to hit that dreaded April 15 deadline, you can get an extension easily by e- filing IRS Form 4868. The IRS will grant you an extra six months to file; your new deadline will be October 15. Remember, this doesn't extend the time for payment if you owe anything to the IRS. What is the purpose of Form 4868? According to the IRS, you, "Use Form 4868 to apply for 6 more months (if “out of the country” and a U.S. citizen or resident) to file Form 1040, 1040A, 1040EZ, 1040NR, or 1040NR-EZ." Form Title Form 1040 U.S. Individual Income Tax Return Form 1040A Annual income tax returns filed by citizens and residents of the United States. Form 1040EZ Income Tax Return for Single and Joint Filers With No Dependent Form 1040NR U.S. Nonresident Alien Income Tax Retur Form 1040NR-EZ U.S. Income Tax Return for Certain Nonresident Aliens With No Dependents Form 1040-PR U.S. Income Tax Return for residents of Puerto Rico Form 1040-SS U.S. Self-Employment Tax Return (Including the Additional Child Tax Credit for Bona Fide Residents of Puerto Rico) Form 4868 Tax Extension Details Once you have filed IRS Form 4868, you can file your tax return at any time before the Tax extension expires. Should you fail to file your return or pay any tax due by the deadline, you may incur penalties and/or interest. If you owe any tax and fail to pay it by the regular due date, even if you did file an extension, interest will be assessed until you pay the tax. You will owe the interest regardless of the reason for paying late. A late filing penalty, usually 5% of the amount due for each month or part of a month the return is late, is charged if your return is filed after the due date. The maximum penalty is 25%. For returns filed 60 days or later, the minimum penalty is $135 or the balance of the tax dues, whichever is smaller. If you can show reasonable cause, you may not have to pay the late filing fee. But you can avoid that altogether by E file Form 4868. Form 4868 FAQs What is the purpose of Form 4868? According to the IRS, you, "Use Form 4868 to apply for 6 more months (if “out of the country” and a U.S. citizen or resident) to file Form 1040, 1040A, 1040EZ, 1040NR, or 1040NR-EZ." When is Form 4868 due? You need to get it transmitted by midnight on April 15 in your time zone. How long will it take to get approved? Just a few days. We'll send you an email with the results as soon as we get them. If you get rejected, we'll tell you why and help you resolve the issue. Then you can come back here and resubmit. I was approved, when is my extended tax return due? For Corporations, multi-member LLCs and partnerships operating on the calendar year for tax purposes are given an extended tax deadline of September 15, 2010. Sole proprietorships and single-member LLCs are given an extended due date of October 15, 2010. If my tax extension is approved, does that mean I won't owe the IRS money in April? No. Form 4868 is an IRS supplementary form to apply for an extension of time, not an extension to pay taxes. To extend the time to file taxes, you'll need to file Form 1138, which you can get from the IRS. Who should file Form 4868? All 1040 Personal Federal Returns, Sole Proprietorships and Single Member LLCs. Do I need to file a state tax extension for my state as well? Consult our state tax extension guide for instructions for each state. Avoid errors Some of the most common errors in e-filing tax extensions come from simple typos or mismatched data. Make sure to take your time and input your information precisely. Sometimes, the IRS has different information for you on file. This can happen for a variety of reasons: you changed your name in the past year, you got married, your name has a hyphen or dash in it. The data on Form 4868 must match what the IRS has, or it won't be accepted. You can call them and make sure your info matches at 1-800-829-1040 ### ExpressExtension: One of the easiest ways to apply for 2012 income tax extension is through http://www.ExpressExtension.com , The Fast and Easy-To-use System makes tax extensions simple and easy. The entire process takes only a few minutes to complete. If you have any questions about the process, you can contact the Tax Extension Team from their Rock Hill, SC. Support Center at 803.514.5155 or send an email to email@example.com.
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