This is the latest post in Tax Extension Center’s daily series of The Top 100 Reasons to File a Tax Extension. Our goal is to educate taxpayers that filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.
Here’s reason #85: you’re missing a 1099.
Missing or insufficient paperwork is a very common reason why more than 15 million Americans file a tax extension every year. And the form that is probably the most to blame is the 1099 (also known as the 1099-MISC).
This is the latest post in Tax Extension Center’s daily series of The Top 100 Reasons to File a Tax Extension. Our goal is to educate taxpayers that filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.
Here’s reason #84: the lines at your local tax shop are way too long.
Now is about the time of year that those that haven’t filed their taxes are just started to motivate to get them done. People that have them professionally prepared could be in for a rude awakening because they aren’t the only ones getting motivated. The lines at the local tax shop prove it. They are long…way too long. And they are getting longer every day.
This is the latest post in Tax Extension Center’s daily series of The Top 100 Reasons to File a Tax Extension. Our goal is to educate taxpayers that filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.
Here’s reason #83: your spouse is in the process of getting their Social Security Number.
According to the Support Team over at FileLater, this is actually a pretty common scenario that they see play out every April. In this case filing a tax extension makes perfect sense. The extra 6 months is usually enough for the spouse awaiting their SSN for the paperwork to go through. And when it does, then you can file your taxes.
Ever filed a income tax extension? Whether you are new to tax extensions or you are one of the 15 million invidious and businesses that file one very year, remember that income tax extensions do not give you more time to pay what you owe the IRS for income taxes. You are still responsible for paying what you owe by midnight on April 15 (or March 15 for the corporate taxes). An extension gives you more time to file the necessary tax forms you’re supposed to file. Failing to make your payment on time could make you subject to tax extension penalties and interest.
Have any questions or feedback about tax extensions? Let’s talk about it in the comment section below.
This is the latest post in Tax Extension Center’s daily series of The Top 100 Reasons to File a Tax Extension. Our goal is to educate taxpayers that filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.
Here’s reason #82: you bought a rental property within the last year.
So you decided to take advantage of the burgeoning buyer’s market and make real estate a second source of income. Rental property is your vehicle of choice. Good for you.
This is the latest post in Tax Extension Center’s daily series of The Top 100 Reasons to File a Tax Extension. Our goal is to educate taxpayers that filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.
Here’s reason #81: a tax extension can be e-Filed directly to the IRS.
The coolest part about e-File is that your tax form (in this case either an individual tax extension or a business tax extensions) gets sent right to the IRS. There’s no Postal Service involved, no intermediary whatsoever. You send it, the IRS receives it.
Tax Extension Center continues its daily series of The Top 100 Reasons to File a Tax Extension. Our goal is to educate taxpayers that filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.
Here’s reason #80: you won the lottery and spent a lot of money this year. It’s going to be a while until your accountant finishes going through your receipts.
The upside is you got rich and went on a huge spending spree. That’s great! The downside is your taxes are going to be a heck of a lot more complicated – especially since all of your receipts are currently sitting in a shoebox. You’re accountant is going to love you!
Tax Extension Center continues its daily series of The Top 100 Reasons to File a Tax Extension. Our goal is to educate taxpayers that filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.
Here’s reason #79: your wife always handles your taxes… and she just left you.
As if getting a ‘Dear John’ letter wasn’t hard enough. What really stinks is when your wife or girlfriend was the one that handled taxes each Spring. Now what are you supposed to do?
Outright is featuring a question in their community about why people file tax extensions. I’m interested to see what people say.
The question is part of a partnership between the free online bookkeeping provider and FileLater – the leader in tax extensions for both individuals and businesses seeking to file online.
You can participate in the discussion by setting up a profile in the community. It’s super easy. While you’re there, check out some of the other discussions going on. Outright’s community is full of helpful stuff for small business owners looking for answers on subjects like taxes, bookkeeping, contracts, websites, and branding.
