As the cold of winter slips into our everyday life's and tax season comes into our thoughts, it's that tax return preparation task that gets its fair share of attention this time of year.
Many taxpayers like myself seem to ponder this task far too long until it puts us in a pinch as the tax filing deadline draws near.
How To e-File A Tax Extension Fast
Filing a tax extension is not only a great way to relieve that tax filing deadline rush, but it can also give taxpayers the opportunity to save some cash on their tax preparation software.
Tax software companies generally put their products on sale and leave them there once the initial tax filing deadline has come and gone.
This in turn gives those who filed for a tax extension the opportunity to take advantage of these lower prices.
With a tax extension, many options exist to slow down and make sure your taking advantage of every tax break you can to lower your overall tax bill.
Pay Any Taxes You Owe On Time!
By all means, don't be thinking that when you file for a tax extension, you have more time to pay your taxes owed. Nothing can be further from the truth. By e-filing a tax extension you are asking Uncle Sam for an additional 6 months to prepare and file your tax return.
However, You will not be granted any more time to pay any taxes owed, so don't make that mistake or you will be subjected to penalties and interest charges you simply wont like..
Filing a tax extension will give you an extra six months — until Oct. 15 to prepare and file your federal income tax return.
4 Steps To E-Filing A Tax Extension
- Estimate the amount of taxes you will owe for the year
- Click the Start Extension Now Button
- Prepare Tax Extension Form 4868 For Filing
- Postal Mail or e-File The Tax Extension Form With The IRS
I do this every year regardless, since it puts me at ease and keeps me from freaking out when all of a sudden the deadline sneaks up.
Yup, That's how it works. Once you have filed your extension form you will hear back from the IRS that your extension has been granted.
If for some reason it was denied, the IRS will give you a reason so that you can make corrections and re-file, provided the deadline has not passed.
Fact is, the IRS pretty much grants all extension requests unless there was a mistake in filling out the tax extension form 4868.
Make sure you fill it out properly and calculate a fairly accurate figure of what taxes you still owe, then your extension has a high probability of being granted very quickly. Try it and See!