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. eFileForm4868.com recommends that you e-file your 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.
eFileForm4868.com recommends FileLater.com. File your tax extension online today in 10 minutes or less.