Why You Must Start Filing Your IRS Tax Extension Online?

by

Nick P.

Officially tax day or April 15 is the day many people hate in the US! Gathering all your financial documents, sorting out all your bills and receipts, calculating the tax you owe, filing a tax return theres simply so much to do! Especially, nothing can get more frustrating and tiring than filing the tax return form 1040 which has 77 lines to fill and a 189 page appendix to refer in order to fill! The very complexity and lack of time and patience to gather all the documents convince people not to fill these forms well before April 15. However, when the date is too nearby and theres nothing much they can do about it, a lot of people just give up on it and eventually end up paying penalties. Though most of these people are aware of the IRS tax extension scheme, they dare not to try it due to lack of awareness and knowledge.

Whether you are the owner of a business which is always at its peak during spring or a busy parent who just couldnt find time to file your tax returns, a businessman who wants a little more time to sort out his financial documents, or someone who had a health crisis and was unable to focus on tax; the reasons to fail to file tax returns before April 15 could be anything. This is why IRS permits an extension period of 6 months to file your tax returns, i.e. until October 15. Choosing to extend the due date to file tax returns is a wise choice to make if you are not ready with all the documents you need and also to avoid penalties and interests. By taking an extension you can find time to gather all the documents you need to file a perfect tax return file and maintain a good tax history. A good tax history establishes that you have a sound and stable financial background and makes it easy for you to claim loans and apply for Visas. Despite the provision of IRS tax extension is introduced completely for the benefit of people, one must note that it extends the time to only file a tax return and doesnt extend the tax payment duration itself. Even if you file a tax extension form before April 15, you are obligated to pay up the tax you owe before the same date to avoid any penalties and additional interests. And generally, the penalty for not filing a tax return and also not filing an IRS tax extension before this date is 5% per month to a maximum of 25% of the balance due.

E-filing IRS Tax Extension

E-filing IRS tax extension has many advantages over the traditional ways of mailing a paper form 4868, a few of which are listed below

E-filing is easy and it takes only 5 to 6 minutes to fill out the entire form.

E-filing ensures that the extension form reaches the IRS well in time and gives no room for uncertainty or doubt. There are many instances when tax extension files sent via mail are lost with a bunch of other letters and posts.

One can even track the status of their application which is not available with the traditional methods of IRS tax extension.

Lastly, the most preferred method by IRS for tax extension filing lately is online. It is also easy to get a tax refund when you have failed your tax extension online.

FileLater.com

is an authorized IRS e-File provider, offering personal and business IRS tax extension services, helping the U.S citizens get an automatic extension on their tax return deadline for another 6 months.

For more

on IRS tax extension, visit IRS.gov.

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