Don't let tax season get the better of you this year! Did you know that the IRS automatically grants income tax extensions to anyone who files the correct form? You don't have to come up with a good reason. You just have to ask.

Both businesses and individuals are eligible for this extension. For businesses, you just fill out and file IRS Form 7004 and your tax deadline goes from March 15 to September 15. For individual income tax returns, it's Form 4868 and you'll have until October 15 to file. And the best part is: you can do this online in just a few short minutes!

FileLater.com: Our Featured Partner for Online Tax Extensions
TaxExtensions.org recommends FileLater.com , an authorized IRS e-file partner, for all your online tax extension needs. FileLater is the only online tax extension service that handles business tax extensions, in addition to personal income tax extensions. The process is simple and direct.

All you have to do is provide some basic personal/business information (it's completely secure). FileLater will help you determine if you need to make a tax payment to the IRS (even when you extend, you still have to make an on-time payment) and will transmit your form to the IRS.

That's all there is to it! FileLater will transmit any payment you need to make, and will notify you when your extension is approved. If your extension is rejected, FileLater will explain why, and enable you to correct it and resubmit it, for free.

Don't forget: the March 15 deadline for business tax returns is coming up fast! Give yourself some breathing room and file a tax extension online.

It's almost tax time again, and the U.S. tax code isn't getting any easier. Are you looking for a little more time on your taxes, but afraid of the hassles of filing for an extension? Well, don't be! You can e-file IRS Form 4868 and Form 7004 in just minutes–and give yourself six months of breathing room. Here are some other good reasons to file online:

E-filing saves trees! No messing around with complicated paper forms in triplicate. Answer a few questions online at FileLater.com, our recommended online filing service, and you're ready to go.

You'll get approval confirmation from the IRS–which you don't get when you file the old-fashioned way. FileLater will review and submit IRS Forms 4868 and/or 7004, and send you a confirmation when your tax extension has been approved.

It doesn't take long. You can fill out all the required information in about 10 minutes or less, and your return is transmitted electronically, not via snail mail.

The IRS likes it better. Going paper-free is the latest trend, and the IRS jumped on the bandwagon early. Tens of millions of taxpayers filed their tax returns online in 2007, and several million filed their tax extensions the same way. As an authorized IRS E-File provider, FileLater securely transmits your tax forms straight to the IRS.

It's more secure than the post office–and a lot more convenient. Don’t stand in line with everyone else at the post office on tax day, wondering whether your paperwork will fall through the cracks. When you file for a tax extension online, you avoid the chaos and hassle of the Postal Service's busy season. FileLater uses the latest online security technologies to safeguard your personal information–and make sure it gets where it's supposed to go.

Here at TaxExtension.org, we are pleased to recommend FileLater.com, an online tax extension filing service. FileLater offers the following advantages to taxpayers pressed for time:

• Simple interface. Like many online tax programs, you never see IRS Form 4868 until they've filled it out for you. In a very short time, you can answer some basic questions and FileLater will automatically fill out, review and submit your tax extension online.
  
  
• A variety of submission options. If you prefer to mail your tax extension forms straight to the IRS, you can print out your completed form and put it in an envelope. If you want to e-file, it takes just the click of a mouse.
  
  
• Handles both business and personal income tax extensions. FileLater is the only online tax extension service that e-files tax extensions for individuals and businesses.
  
  
• Reliable service and security. Designed by tax experts for accuracy and user-friendliness, FileLater's online system offers the best acceptance rate in the industry. Multiple layers of security (including McAfee and Thawte) ensure the privacy of your personal and business information.
  
  
• Answers to your questions. FileLater provides comprehensive information on tax extension requirements for all 50 states and the District of Columbia. Though their filing service extends to federal tax extensions only, in many states that's all you need to get a state tax extension as well.
  
  
• Dedicated service and support. FileLater's support team is available online much of the time to provide immediate answers to your questions. The company is committed to providing top-quality service, addressing problems and offering straightforward solutions.

For your online tax extension needs, TaxExtension.org is proud to partner with FileLater.com. E file a tax extension now.

Many taxpayers think that tax extensions are only for people or businesses who just don't have their act together. Not so! It's quick and easy to file for one, and the IRS doesn't require you to give a good reason (or any reason at all). You never know when some extra time might come in handy for a project this important. Here are a few reasons to consider filing a tax extension this year.

• You'll be able to take your time making sure everything's in order. Why rush to get your taxes done in March or April when you don't have to? If you file for a tax extension, you'll get an extra six months to make sure that you've filled out each form correctly–and that you've taken every deduction you're entitled to. More and more taxpayers and businesses choose to file tax extensions routinely each year, just to make sure they have the time they need.
  
  
• You'll get more attention from your accountant. No one wants to be on the bottom of their accountant's call-back list on April 14. By filing your taxes in the fall, you'll get the personal attention you're paying for–and your accountant won't be living on espresso and No-Doz. You don't even have to bother your accountant in April to file your tax extension–you can file online yourself, in a matter of minutes.
  
  
• You won't have to put up with the craziness of tax time. Don't spend your afternoons at the post office or your accountant's waiting room. You can only benefit from not doing your taxes at the same time everyone else is doing theirs.
  
  
• If you wait, you might benefit from changes in the tax code. Tax laws change all the time–and with President Obama's stimulus plan shaping up, there are bound to be some pretty big adjustments this year. Even if a new tax plan passes before April 15, you may still need the extra time to make sure you know which changes will affect you.
  
  
• It may lower your chances of an audit. Many accountants and tax experts believe that, counter-intuitively, filing your taxes at a different time than everyone else makes you less likely to be audited. Why? Well, it's no secret that IRS officers must meet a certain quota of audits each year–but they're likely to meet that quota well before the fall deadline for tax extensions.
  
  
• The IRS doesn't need a reason, so why should you? You don't have to come up with a compelling reason to convince the IRS to give you an extension–they grant tax extensions automatically to anyone who correctly fills out the forms. So file IRS Form 7004 (business extensions) by March 15 and/or Form 4868 (individual extensions) by April 15, and give yourself a breather this year!

If you're planning to file for a tax extension, then you know that you'll get an extra six months to file a completed tax return. But did you know that you still have to pay the taxes you owe by the original deadline?

This is pretty confusing to a lot of people. Don't you file for a tax extension because you don't have the money to pay your tax bill in March or April?

Sadly, no. With a tax extension, you'll get extra time to take advantage of new tax laws and make sure you've filed the most advantageous return possible–but you still have to pony up the tax liability you expect to owe, right on time. If you end up owing fewer taxes than you thought, you'll get a refund (and if you end up owing more, you'll have to pay that too). But on March 15 (for businesses) and/or April 15 (for individuals), you have to pay whatever you think you owe.

What Happens if I Don't Pay My Taxes on Time?
Two things. First, if you don't pay your taxes by the standard deadline, you'll face a late-payment penalty that accrues every month starting in March/April, whether you've filed for an extension or not. Second, you'll start accumulating interest on your unpaid balance–but if you file for a tax extension, this won't happen until the extended deadline of September or October 15.

The late payment penalty typically equals 0.5% of your tax liability, calculated each month. For example, if you owe $4,000 in taxes, the IRS may charge you $20 per month as a late payment penalty:


If you haven't paid your balance by the time your tax return is due (let's say October 15 for a personal income tax extension), you'll begin to accrue interest on your outstanding tax liability. This is usually 5% of your balance (also per month), with a minimum payment of $100 if you're more than 60 days behind.

So if you filed a tax extension but haven't paid your balance by November 15, you'll have $4,000 due plus $120 in late payment penalties ($20 per month for six months). Each month, you'll be charged an additional 5% interest penalty, which is $206 for November.


All in all, it's critically important that you pay your taxes by the standard deadline, whether you file for a tax extension or not. But if you're looking for a bigger refund, file a tax extension online this year, and maybe you'll get a bit back.

If you're on this website, you probably already know that you can file for a business or personal tax extension online in just minutes, and the IRS will automatically grant you a six-month extension. But what about state tax extensions? Do they even exist?

They sure do, but the rules vary by state. Some states, like Massachusetts and California, subject residents to high taxes and a complex tax code–so a state tax extension is a good idea indeed. At the other extreme, states including Alaska and Nevada don't levy personal income taxes at all. However, you may still have to pay business taxes in some of those states, so you still have some investigating to do.

State Tax Extensions: How Do They Work?
State tax extension laws come in many shapes and sizes. Alabama and Arizona, for example, will automatically grant you a state income tax extension when you file IRS Forms 4868 or 7004 (federal tax extensions). All you have to do is send them a copy. California and Colorado don't require you to file for an extension at all if you are owed a refund (you only have to do it if you owe taxes). Connecticut, Washington DC and Delaware have state-specific forms that must be filed, whether you owe or not.

Confused yet? You're not the only one. How do you figure out the rules for your state (or, heaven forbid, if you owe taxes in more than one state)?

TaxExtension's partner, FileLater.com, offers comprehensive information on the various state tax extension laws. The site can't file the forms for you (they handle only federal income tax extensions), but you'll find the answers you need to take care of your state tax extension.

If you're considering filing for a personal or business tax extension this year, you might be wondering how the IRS feels about it.

It's a reasonable question–government agencies, lenders, landlords, credit cars all penalize late payments. However, if you fill out the proper paperwork on time, the IRS will automatically grant you a six month-extension–and you don't have to give them a reason. In addition, some tax experts think that filing a tax extension actually lowers your chances of being audited. IRS agents have audit quotas to fill, but most of them do so well before the fall deadline for extended tax returns.

What Do I Need a Tax Extension For?
You might think that tax extensions are just for people who aren't on top of things, but you'd be surprised how often life gets in the way of getting your paperwork done! Consider just a few possible situations:

• Maybe a business partner, contractor or client failed to provide you with the proper tax forms in time for you to get your return in order.
  
  
• Perhaps you've had some major life changes that give you new tax status. If you've gotten married or divorced, had a child or perhaps taken an ailing parent as a dependent, it may take some extra time to re-evaluate your tax liability.
  
  
• Maybe you were planning to handle your taxes yourself but it got too complicated, and suddenly it's too late to get a reputable accountant.
  
  
• Maybe you thought you'd try out some of that new online tax software, and it didn't quite work for you.
  
  
• OK, maybe you're just not on top of things. That's not against the law!

Just remember: The IRS doesn't care why you need a tax extension. As long as you correctly fill out Form 4868 (for individuals) and/or Form 7004 (for businesses) and submit them on time, the IRS will grant your extension, no questions asked.

Now that you've decided to file one, what's the easiest way to get it done? TaxExtension.org recommends our partner FileLater.com, an online tax extension service that takes only a few minutes. You enter some basic personal or business information into their secure server and, as an authorized IRS E-File Provider, they will take care of the rest.

FileLater will notify you when your extension has been accepted by the IRS, and if for any reason it's rejected, they'll tell you why and let you re-file for free.

This is one tax task that's easy to get done. File a tax extension online today.

Not many people are familiar with the way income tax extensions work. Maybe what you don't know can help you – keep reading to find out.

1. The IRS does not require you to give a reason for your tax extension. That's right, kids, the IRS will automatically grant a 6-month business or personal tax extension to anyone who fills out the proper paperwork on time. They don't frown upon extensions and they don't care why you want one.
   
   
2. It might lower your chances of getting audited. Many CPAs and tax experts believe that, contrary to popular belief, filing a tax extension makes you less likely to be audited. IRS agents do have an audit quota to fill–but most of them get it done before the extended deadline, and so they have no need to give your return extra scrutiny.
   
   
3. Filing for a tax extension is quick and easy. There's just one simple form–IRS Form 4868 for individual income taxes, or Form 7004 for business extensions. You don't need an accountant's help–in fact, you can file an extension online in just minutes. TaxExtension.org recommends our partner, FileLater.com, for all your tax extension needs.
   
   
4. With a tax extension, you can file anytime between March and October. The standard deadline is March 15 for businesses and April 15 for individuals. With a tax extension, those deadlines extend to September and October, respectively. However, if you're ready to get them done early after all, there's no reason you have to wait until the extended deadline. The IRS will accept your tax return anytime.
   
   
5. Millions of people and businesses file tax extensions every year. The IRS estimates that over 10 million individual and 3 million business tax extensions are filed every year. They have become so commonplace that many state governments have taken to automatically granting extensions, whether you ask them for one or not. Many taxpayers make it a habit to file for an extension every year whether they need it or not, just in case. And since it's so easy, there's no reason you shouldn't do it too!

Ready to file a business or personal income tax extension–but not sure how to do it? Don't worry. You don't need an accountant or a pile of paperwork. TaxExtension.org recommends that you e-file a tax extension with FileLater.com.

Here's how it works.

Step 1. You'll be asked to provide some basic personal information, including your name, address, your spouse's name (if you have one) and your Social Security number. Your information is kept completely secure with advanced SSL technology, so no one can hack it–and FileLater does not share your personal information with any person or organization except the IRS.

Step 2. FileLater will help you determine whether or not you need to pay any taxes before the standard March/April 15 deadline (for businesses or individuals, respectively). The tax extension only gives you an extra six months on your paperwork–not on your payment. If you owe taxes, then you must pay at least 90% of your projected tax liability by the standard deadline. If you don't, you'll be assessed a late payment penalty and possibly interest fees as well.

This, of course, raises an important question: If I haven't done my taxes yet, how do I know if I owe any? Fortunately, FileLater offers a simple income tax calculator. They can also use some basic data from your prior year's return to calculate whether or not you're likely to owe taxes. If you overpay, of course, you'll get a tax refund.

If you don't have to pay any taxes, you can skip to Step 4!

Step 3. You can pay your taxes online through FileLater. As an authorized IRS E-File provider, FileLater enables you to transfer money directly from your bank account to the IRS. If you'd prefer to pay the old-fashioned way, FileLater will tell you exactly when and where to mail your payment.

Step 4. File your extension! Once you've answered the necessary questions, FileLater will automatically fill in IRS Form 4868 or 7004 and give you a chance to review it before it's submitted. You'll be notified within a day or two whether your extension has been approved or rejected. In the unlikely event that it's rejected, FileLater will highlight the errors that the IRS flagged, and you can correct them and re-submit for no charge.

TaxExtension.org recommends FileLater.com. File your tax extension online today in 10 minutes or less.

If you're involved with the finances of a not-for-profit organization, listen up! For the 2008 tax year, every nonprofit's bugaboo–the IRS Form 990–has been expanded considerably. Strict new reporting requirements may mean that your organization has some extra work to do this year.

"The new form, one of the few records that tax-exempt organizations must make public," wrote the San Diego Union-Tribune, "requires them for the first time to explain basic practices such as how they are governed, how they manage gifts and donations, and how they choose to pay top officials."

So if you're responsible for an IRS Form 990 this year, consider filing a tax extension to ensure that you have plenty of time to comply with the new regulations.

How Much More Complicated is the Form 990?
TaxExtension.org recommends FileLater.com – the only online tax extension service that handles business tax extensions. The new nonprofit reporting regulations will require your careful consideration. And if you're like most nonprofits–busy, underfunded and understaffed–you'll need all the extra time you can get.

The new 990 drills down well beyond the typical disclosures of payroll, contributions and overhead. This year, nonprofits must make clear their basic administrative configuration, their donation-handling processes, and their compensation plans for top officials. It's clear that the IRS is taking oversight much more seriously in this sector, to make sure that all tax-exempt organizations are obeying the rules.

The new regulations will go into effect over time, based on revenue. If your organization earns over $1 million per year (or holds assets of $2.5 million or more), you have to complete the new form this year. For the 2009 tax year, organizations with $500,000 income/$1.25 million in assets must submit it, and in 2010 the threshold drops to $200,000/$500,000.

Give your nonprofit the extra time to handle this new challenge. File a business tax extension online.