April 2023 - Tax2efile Blog

Avoid IRS Penalties By E-filing 4868 Extension Form: Tax2efile

April 28, 2023

The IRS 4868 Extension form is used by taxpayers to apply for an automatic six-month extension time with the federal income tax returns. Taxpayers who require more time to prepare and submit their tax returns can use Form 4868 to extend their tax-paying deadline till October 15th. This extension is, however, automatic, and taxpayers need not get approval from the IRS to avail of this extension. Filing Form 4868 will only avail time extension for the...

Form 990-N (e-Postcard): Organizations Not Permitted to File

April 27, 2023

The IRS Form 990-N, also called e-Postcard, is an annual electronic filing Form for small tax-exempt organizations that are not required to file either Form 990-EZ or Form 990. The form will be filed with the IRS, and the organization offers to provide the financial and operational details. This tax Form offers basic information regarding the organization basic information and confirmation of the tax-exempt status of the organization. Also, an organization to report the total revenue...

501 (c) (3) Federal tax obligations of nonprofit corporations

April 25, 2023

Federal tax obligations provide information about the legal duties of individuals and organizations to comply with the tax laws and regulations set forth by the federal government. A non-profit organization is an entity that aims not to generate profit and offers goods and services to the community for charitable, educational, religious, or other purposes. A nonprofit corporation is a legally established entity that endeavors activities useful to society without aiming at earning profits. Their key goals include...

4868 Extension: The Benefits of Filing

April 20, 2023

If the taxpayer cannot file their federal income tax return within the filing deadline, they can file an extension with the IRS by officially filing Form 4868. This tax Form offers an automatic extension of time to file the individual tax return in the US. Filing this tax extension Form will not give more time for the IRS to pay the taxes they owe. Form 4868 will only extend the deadline to submit the paperwork. The extension...

E-file Extension form 4868: Deadline is Almost Here!

April 18, 2023

E-file Extension Form 4868 April 15 is the deadline for individual taxpayers to e-file extension Form 4868 with the IRS. This tax Form serves as an extension request for U.S. federal income tax. Filing this Form grants taxpayers additional time of about six months, up to October 15, to file their returns. To be eligible for the extension, individuals must complete and file the Form by April 15. Otherwise, they may face penalties or interest charges if...

The requirement to E-File IRS Form 990 or Form 990-EZ

April 17, 2023

Most tax-exempt organizations are required by the Internal Revenue Service (IRS) to submit an annual information return, either e-file Form 990 or Form 990-EZ, based on their size and type. If an organization has total assets over $500,000 or gross receipts exceeding $200,000 annually, it should file a Form 990. However, if its revenues don’t exceed $200K or assets are under $500K, it could opt to file form 990-EZ instead of form 990. Some entities, like churches,...

E-File Form 4868: A Complete Guide on How to do with Tax2efile!

April 11, 2023

E-file form 4868: Tax2efile is an IRS-authorized e-file service provider that makes it easy to apply for this extension, and estimate individual tax liability and overall tax payments. United States Tax Season and Tax Day The tax season is between January 1st and April 15th each year, for filing the federal tax returns of the previous year. Tax Day is the final deadline date when individuals should file their federal tax returns and complete their due tax...

Attain IRS Tax Exempt Status – An Organization Needs to know how to file

April 6, 2023

IRS Tax-exempt status is a type of status that exempts an organization from paying taxes at the local, state, and federal levels. It is important to note that tax-free items may be reported on a taxpayer’s individual or business tax return, but they are shown only for informational purposes. Tax exemption can also refer to the status of a business that limits its taxable income. In this article, we will discuss the step-by-step process of filing for...

Personal Tax Extension – The Ultimate Tips & Guidance before you file

April 5, 2023

The IRS tax extension filing deadline is near and if you are worried about the tax deadline, it is time to consider filing an extension. Filing a personal tax extension is easy and simple and can be done online through e-filing portals. This helps in pushing the due date for filing tax returns by six months, to October 17th, 2022, irrespective of income. But the tax extension request should be filed by April 18th, which is the...