Tax Extension Center continues its daily series dedicated to The Top 100 Reasons to File a Tax Extension. Our aim is to inform taxpayers that a tax extension can be a valuable tax season option because it saves time, stress, and even money.
Here’s reason #65: it’s fast – file a tax extension online in just 5 minutes.
What sounds better? Endless highly-stressful hours spent flailing around to get your taxes filed on time or 5 minutes to give yourself an extra 6 months to file?
No-brainer, right?
For all of the hardship and stress that filing a tax extension at the last minute can bear, filing a tax extension is refreshingly fast. In 5 minutes or less, you can e-file a tax extension directly to the IRS and have the security of an extended tax deadline.
Compared to other tax forms, the tax extension form is surprisingly simple – especially when filed online through a provider like FileLater. There are only a few fields to fill out. As long as you know you name, social security number, and an estimate of how much you owe in taxes, then you’ll be able to plow right through the form and have it filed very quickly.
Are you considering filing a tax extension for the first time? Or maybe you file one every single year like clockwork. Either way, remember that a tax extension does not give you more time to pay what you owe the IRS. You still need to make your payment by midnight on April 15 (or March 15 for the corporate tax deadline). An IRS 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.
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