Tax Extension Center continues its series of The Top 100 Reasons to File a Tax Extension. This series is intended to show taxpayers that a tax extension is valuable because it saves individuals and/or their businesses time, stress, and even money.
Today’s reason: a tax extension is automatic! That’s right, when you file a tax extension the IRS doesn’t ask you to provide a reason why you need an extension. See for yourself on either the tax extension for yourself (Form 4868) or the one for your business (Form 7004). The truth is that all you need to provide is basic information.
The general rule for tax extensions is this: as long as the basic information you provide (name, Social Security Number for example) match what the IRS has on file…you are approved! And even if your request for an extension gets rejected, just update your information according to what the IRS has on file and your extension will be approved.
Here’s a short video with more about automatic tax extensions:
Ever filed a tax extension before? Thinking about filing one this year? Drop me a note in the comment section below.