Wednesday, March 10, 2010
2.It's safe. You don't have to worry about your important files being lost in the mail. Your information isn't handled or shared with anyone, it just goes straight to the IRS.
3. It's fast and easy. You can file your tax extension in minutes, without ever leaving your house. Once you've sent it off, it takes just a couple of days to get approved.
4. The IRS prefers it. Seriously, go to their website, they're all about e-filing. It's faster, safer and easier. With the paper forms, you don't get a confirmation from the IRS that your paperwork has been received and approved, but you do with e-filing.
Did you know you can file your taxes after April 15? It's easy, just e-file a tax extension (Form 4868 or Form 7004), and receive confirmation in a few hours.
The IRS doesn't ask for a reason for the extension--it's called an Automatic Extension of Time, so an overwhelming majority of requests are approved. You can e-file for an extension in less than ten minutes online. E-filing is the way to go. It's quick, easy and it secure.
What is Form 7004?
It's the IRS' form for business tax extensions, officially called "Form 7004: Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns." It's used to request an automatic extension of time--usually five to six months--to file your taxes. Form 7004 does not extend the time for payment of tax.
Why file Form 7004?
Use Form 7004 to request an automatic extension of time--usually five to six months--to file your taxes. Form 7004 does not extend the time for payment of tax. The payment of any balance due on line 8 of Form 7004 is required by the due date of the return.
When to file Form 7004?
That depends on the tax return. Corporations operating on a normal calendar year for tax purposes must file for their tax extension by 11:59 p.m. on March 16. Partnerships, LLCs and sole proprietorships must file by 11:459 p.m. on April 15.
-Gather the information required by the IRS to file a tax extension
-Estimate if you're going to get a tax refund or if you'll owe money.
-Electronically file Form 7004, and receive approval of your tax extension from the IRS in a couple of days.