- May 2, 2023
With tax2efile you can conveniently utilize e-file tax extension forms!
Tax Payers who do not find much time to prepare their federal tax return forms should file tax extension forms to seek additional time to file the returns. But they have to be aware that this extension of time to file the returns does not grant them time extension to pay their taxes. Taxpayers should estimate and pay all their owed taxes by their regular deadline to avoid penalties. It is also important that the taxpayers file their extension request within the due date of the return.
Different tax extension Forms and their due dates:
Individual taxpayers can make use of the free file option to request automatic tax filing extensions electronically. Filing tax extension Forms will give taxpayers time till October 15 to file their returns with the IRS. If October 15 falls on a Sunday or on a legal holiday, then the due date will be the next business day. IRS allows three different tax extension Forms for different taxes to offer more time for the taxpayers to prepare their tax Forms.
1. Tax Form 7004:
Businesses that require tax extensions for tax Forms 1120m 1040, 1065, and 1120S should file extensions through Form 7004. This extension is to be filed, by the original due date of the actual tax Form, along with the taxes due. The due date for filing Form 7004 will vary according to the tax year of the organization, and it is either March 15 or April 15.
- C corporations and entities, whose tax year ends on December 31, will avail six-month automatic extension.
- C Corporations and Entities, whose tax year ends on June 30, with getting seven month’s tax extension.
- Single member Sole Proprietorship and LLC will also get the 6-month extension.
2. Tax Form 4868:
The due date to file Form 4868 is April 15, following the end of the calendar year. If the due date falls on a weekend or on a holiday, then the deadline will be the next business day. The due date for filing an extension for Form 1040NR- EZ is June 15, 2023.
3. Tax Extension Form 8868:
Tax-exempt organizations will have to file Form 8868 to avail of tax extensions. The due day to file this tax Form is May 15, following the end of the accounting period. This due day appeals to Form 990, Form 990 PF, Form 990-T, Form 4720, Form 5227, Form 6069, etc. The due date to file an extension on Form 990-T and Form 1041-A is April 18 of the tax year.
Before filing the tax extension file, taxpayers should estimate the tax liability on the Form and should pay the amount due on time. Taxpayers can get an extension by paying part or all of the estimated income tax and indicating that the payment is toward tax extension.
E-File Tax Extension With Tax2efile:
Tax2efile is an electronic filing application designed to offer a seamless and error-free tax filing experience. By following a simple registration process, users can easily e-file 7004, 4868, and 8868 tax extension forms with our platform.
