Even though the actual tax extension form for individuals or businesses are a lot simpler than your average tax form, taxpayers still have valid questions about how to complete it. This post continues a Tax Extension FAQ series that covers the most common tax extension-related questions and their answers.
Here’s a very timely question:
It’s literally the last minute and I need to e-file my tax extension. What time does the IRS consider to be midnight?
Answer:
I know what you’re thinking. Midnight is midnight. Stop wasting my time, I need to file my tax extension!
The truth is that this is an extremely popular, and legitimate question – especially on deadline days like today (the April 15 tax deadline).
Here’s the deal: when you e-file a tax extension through an authorized e-file provider, that provider will time stamp your request when they send it to the IRS. So, the location of your provider is what determines midnight.
Example: let’s say you live in Seattle and at 9:30 PM local time on April 15 you choose to use a provider located on the eastern time zone. Your extension request will be filed at 12:30 AM on April 16 – after the deadline.
Another example: lets’ say you live in Boston. It’s 2:30 AM on April 16 and you are finally sitting down to file an extension. If you file with a provider in the Pacific Time Zone, it will be stamped 11:30 PM April 15. Your extension will be filed before the deadline!
This is one of the main reasons I always recommend FileLater. They are located in San Diego – that’s in the Pacific Time Zone. So all of you procrastinators on the East Coast can use FileLater for 3 extra hours!
If you have any questions about filing a tax extension, please let me know in the comment section below. I’ll do my best to cover it in a future blog post.
Even though the actual tax extension form for individuals or businesses are a lot simpler than your average tax form, taxpayers still have valid questions about how to complete it. This post continues a Tax Extension FAQ series that covers the most common tax extension-related questions and their answers.
Here’s a very timely question:
It’s literally the last minute and I need to e-file my tax extension. What time does the IRS consider to be midnight?
Answer:
I know what you’re thinking. Mignight is midnight. Stop wasting my time, I need to file my tax extension!
Even though the actual tax extension form for individuals or businesses are a lot simpler than your average tax form, taxpayers still have valid questions about how to complete it. This post continues a Tax Extension FAQ series that covers the most common tax extension-related questions and their answers.
Here’s the latest question:
If I e-file a corporate tax extension today, will it be filed in time for the deadline?
Answer:
YES. As long as the request for a corporate tax extension is e-filed prior to midnight, you’re all set.
This question is really common, especially today (the corporate tax deadline). I hear from a lot of companies who have procrastinated and want to get their extension filed today before it’s too late ( a very good idea!). The good news is that e-File is very fast. So once you fill out the form online, it’s submitted. And as long as that happens before midnight, you’re all set.
If you have any questions about filing a tax extension, please let me know in the comment section below. I’ll do my best to cover it in a future blog post.
Even though the actual tax extension form for individuals or businesses are a lot simpler than your average tax form, taxpayers still have valid questions about how to complete it. This post continues a Tax Extension FAQ series that covers the most common tax extension-related questions and their answers.
Question for today’s post:
I Work Outside the US. Can I Get a Tax Extension?
Answer:
This question has some depth to it. Here we go:
Even though the actual tax extension form for individuals or businesses are a lot simpler than your average tax form, taxpayers still have valid questions about how to complete it. This post continues a Tax Extension FAQ series that covers the most common tax and tax extension-related questions and their answers.
Question for today’s post:
Do I have to file a tax return?
Answer:
Here’s exactly what the IRS says, “You must file a tax return if your income is above a certain level. The amount varies depending on filing status, age and the type of income you receive. Check the Individuals section of IRS.gov or consult the instructions for Form 1040, 1040A, or 1040EZ for specific details that may affect your need to file a tax return with the IRS this year.”
If you have any questions about filing a tax extension, please let me know in the comment section below. I’ll do my best to cover it in a future blog post.
Even though the actual tax extension form for individuals or businesses are a lot simpler than your average tax form, taxpayers still have valid questions about how to complete it. This post continues a Tax Extension FAQ series that covers the most common tax extension-related questions and their answers.
Question for today’s post:
I am self-employed. What kind of tax extension should I file?
Answer:
Great question. This one seems to come up more and more every year, especially nowadays when more people are taking the leap to start their own businesses.
If you are self-employed as a sole proprietor (filing a Schedule C), a contractor (1099), or a single member LLC, you only need file a personal extension (Form 4868) to extend both your personal and business income tax deadline.
If you have another business type, such as an S-Corporation, you will need to extend your business deadline by filing a corporate tax extension (Form 7004).
If you have any questions about filing a tax extension, please let me know in the comment section below. I’ll do my best to cover it in a future blog post.
Even though the actual tax extension form for individuals or businesses are a lot simpler than your average tax form, taxpayers still have valid questions about how to complete it. This post continues a Tax Extension FAQ series that covers some of the more common tax extension-related questions and their answers.
Today’s question is one of the more common questions I get asked:
If I am a partner in an LLC or partnership, do I have to file both a personal and a business tax extension?
Even though the actual tax extension form for individuals or businesses are a lot simpler than your average tax form, taxpayers still have valid questions about how to complete it. This post continues a Tax Extension FAQ series that covers some of the more common tax extension-related questions and their answers.
Today’s question has to do with business tax extensions, also know as Form 7004:
Do I have to use my Social Security Number when I e-file my business tax extension, or will I use my Tax-ID (EIN) number?
