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.
Here’s reason #26: it’s good for the environment – when you e-File a tax extension, no paper or envelope are needed.
Green is the new black, right? Or is it pink? I forget.
Either way, recycling is here to stay. And if saving paper is important to you then filing a tax extension through e-file should be on your list of things to do this tax season.
The alternative is to print out the tax extension form (Form 4868 for individuals and Form 7004 for businesses) and then mail it to the IRS.
E-file means no paper. Traditional way means paper. If reducing the amount of paper is important to you, then there seems to be only one choice.
Whether you are new to tax extensions or file one every year, 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. An IRS extension gives you more time to file the necessary tax forms you’re supposed to file. Failing to make a payment could make you subject to penalties and interest.
Have you ever filed an IRS extension to file taxes for yourself or your business? Thinking about filing one this year? Drop me a note in the comment section below.
