How Filing Tax Extensions Works.

April 17: A day of Horror.

People rush to complete their Tax forms and race to the post office to mail their forms, only to discover that a long line awaits them. If you get your envelope postmarked before midnight, you're in the clear, nothing to worry about.

But what if you didn't beat the deadline? What if you forgot to file? Or what if you couldn't file because you didn't have all the necessary information to fill out your Form 1040? Even worse, what if you owe thousands of dollars more than you thought you would, because you claimed too many exemptions on your W-4, and there is just no way you can pay it all right now?

Luckily the IRS has seen every one of these situations and has a solution for it.

Some people in the United States file their federal income tax returns before April 15 -- sometimes long before. Others file their returns at 11:50 p.m. on April 15.But you may need even more time. If you haven't received all of your 1099 or W-2 forms -- records of how much income you have received from various sources -- you may not have all the numbers you need to fill out your 1040. Or maybe you don't have the numbers from your 1098 interest forms. Or maybe your tax return is just enormously complicated and you haven't had time to work on it.

Whatever the case, the worst thing you can do is to not file for an extension. Fortunately, it's really very simple, File IRS Form 4868 by April 17.Filling out Form 4868, can give you an extra six months to file most federal income tax forms, including the 1040, 1040A, 1040EZ, 1040NR and 1040NR-EZ.The IRS grants you an extension, your new filing deadline becomes October 15.

You can E-file Form 4868 with www.extensiontax.com.The IRS wants you to make a payment on your estimated tax liability when you file Form 4868, because a filing extension is not a payment extension. Any tax you owe begins to accrue late payment penalties and interest after April 17.

Oops. You didn't file for an extension. What will the IRS do to you?

Back in high school, when you turned in a term paper late, your grade was probably reduced for your delay. The Internal Revenue Service operates on the same principle. Even if you only need an extra week to file your return, use Form 4868 to file for an extension. A week may not seem like much, but you're better off avoiding the late penalty.

Millions of people e-file their tax extension forms every year. The IRS has a digital initiative–a push to get up to 80 percent of their forms online–and tax extensions are included in that. E-filing a federal personal, business and nonprofit tax extension with Form 4868, 7004and 8868 is quick and easy. A tax extension extends the time to file, not to pay taxes (if they are owed).

www.ExtensionTax.com is committed to provide the Best in Quality and Service for all our users,  www.ExtensionTax.com /www.TaxExcise.com  is a certified, IRS authorized, e-file service provider for Form 2290, Form8849, Form720 & Extensions for  Form4868,  Form8868  and Form7004. 

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