What is an Electronic Tax Extension?
An electronic tax extension, is a process in which people are able to file for an extension on their tax deadline and complete their taxes online. E-filing tax extensions are a viable alternative besides in person consolations or paper filings, to file for extensions. Filing your tax extensions online is a favorable choice for three main reasons: fast, easy, and lessens stress. E-file your tax extensions to help reduce the stress and anxiety that comes with filing taxes in person, and help many avoid the long, time consuming line ups and time restrictions that often times conflict with other responsibilities.
What are the Benefits of e-filing?
Authorized e-file service providers like TaxExtension.com will help you successfully file tax extensions online in a simple, easy, and quick manner which interchangeably decreases stress levels. These services also allow you to make payments on past due accounts at the same times as filing for extensions; as a result, interest costs for the future are lessened. You can also file for extensions for both your personal and your business tax returns electronically.
What is Required?
When filing for tax extensions online, it is imperative the accurate calculations are made, and the correct information is provided. If not, this can lead to complications and unnecessary problems such as rejection and extra work. The most important details that are needed such as your address, Social Service Number, and the status of overdue payments and/or possible refunds.
Filing for Personal Tax Extensions
E-filing tax extensions can extend personal tax return deadlines for a period of up to six months. If filing for a spouse, the same information filed in your personal tax extension application will also be used on the spousal application. W2s and other tax forms are not required as a result, reducing paper work considerably.
When filing for tax extensions do not assume that estimations are equal or similar to the previous year’s tax return. If money is owed, you are required to make a payment within the original deadline or else penalties and interest payments will be subjected on top of the past due amount. E-file service providers often times allows for payments to be made through their databases via online banking.
Submitting the Form
Once the required information is complete you can simply submit the file and the tax extension request will be sent to the appropriate agencies, in this case the IRS. It may take up to 3 days to know if the extension has been granted or rejected. If rejected then a detailed reason will be given, most rejections occur because of incorrect personal details; therefore, changes can be completed and a deadline is given for re-submission. All information submitted online at TaxExtension LLC is secure and is sent to the concerned parties.