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.

Authorized e-File providers (like FileLater for example) are essentially the vehicle setup for you to make submitting a form like a tax extension possible. FileLater takes your request and then send it immediately to the IRS via the connection they are given because they have been granted Authorized Provider status.

The bottom line: e-File makes filing a tax extension EASY!

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.

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.

Let’s chat more in the comment section below.

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 #57: e-Filing a tax extension means you get a confirmation directly from the IRS.

Here’s why today’s reason is super-important: if you mail a tax extension to the IRS, you will never receive or hear anything in return. That means you won’t know these two very important things:

1. Did the IRS receive my extension request?

2. Was my request for an extension accepted or rejected?

Who cares? Well, if your extension was never received then it obviously never has a chance to be accepted. If it’s not accepted and you don’t file your taxes before April 15, then your taxes will be considered late by the IRS.

If, on the other hand, you e-file a tax extension then you are guaranteed to receive notice that the IRS has received your request. If your request was rejected, then most providers will tell you why and allow you to re-file. FileLater, for example, in such cases will help you re-file for free until your request is accepted.

Are you considering filing a tax extension for the first time? Maybe you file one every single year no matter what. Either way, remember that an IRS 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 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 tax extension penalties and interest.

I love talking about tax extensions. Let’s chat in the comment section below.

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.

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 #6: more than two thirds of US taxpayers e-File their taxes these days, so why shouldn’t you e-File an extension and then e-File your taxes?

First, in case you never heard of e-File it’s the IRS’ program that allows taxpayers to file tax forms electronically, or without paper. It’s gaining more and more momentum each year. The IRS’ dream is to get as many people as possible e-Filing everything having to do with taxes. It saves the IRS tons of hours (and money) in processing time and makes them way more efficient. Makes sense, right? Tens of millions of Americans have listened and now use e-File.

That brings us back to reason #6 – I say if you’re going to use e-File for your taxes, why not use it to file a tax extension? There’s really no reason not to.

Whether you are new to tax extensions or not, remember that filing a tax extension does not give you more time to pay what you owe the government or face the possibility of penalties and interest. You still need to make your payment by midnight on April 15.

Ever filed a tax extension before? Thinking about filing one this year? Drop me a note in the comment section below.

The super-talented FileLater Support Team let me know that they are back at work after a short Holiday break and that they’ve been getting a lot of questions in the last 72 hours like this:

When can I efile a tax extension for tax year 2009? Can I do it today?

First let me applaud all of you who are thinking so far ahead! Good for you. April 15 will be here before you know it.

Here’s the short answer: the earliest you can efile a tax extension is January 15.

Here’s the longer answer: if you want to efile a tax extension for yourself (Form 4868) or your business (Form 7004), the soonest you’ll be able to do so is January 15. That’s the day the IRS turns on its efile engine, if you will, to allow authorized efile providers to start sending them tax extension requests.

On the other side, the deadlines to file extension are as follows:

• You have until midnight on March 15 to file your business tax extension.
• You have until midnight on April 15 to file a personal tax extension.

Are you planning to file a tax extension this year? Have you filed one before? Share your tax extension experience with me in the comment section below.

In a recent press release the IRS stressed a couple of points they want taxpayers to heed:

“The IRS encourages taxpayers to choose direct deposit when they file their returns because it puts an end to lost, stolen or undeliverable checks. Taxpayers can receive refunds directly into personal checking or savings accounts. Direct deposit is available for filers of both paper and electronic returns.

The IRS also encourages taxpayers to file their tax returns electronically because e-file eliminates the risk of lost paper returns. E-file also reduces errors on tax returns and speeds up refunds.”

In the same statement, the IRS went on to add, “E-file coupled with direct deposit is your best option; it’s easy, fast and safe.”

I’m in complete agreement. e-Filing is a no-brainer for so many reasons. And as I mentioned in my last post, more and more people are e-Filing these days.

Remember, e-Filing isn’t just for your 1040. You can e-File a tax extension as well.

The IRS reported come interested numbers today about the recently completed 2008 tax season:

A record 95 million individuals e-filed their federal income tax returns during 2009, up almost 6 percent from last year’s total of nearly 90 million. About two out of three taxpayers e-filed this year; out of the 141 million returns filed so far this year, over 67 percent were e-filed, compared to 59 percent last year.

The IRS added that more taxpayers choose to e-file their tax returns each year. While the total number of tax returns has increased 10 percent during the past decade, the number filed electronically has increased by 168 percent. Taxpayers who e-file from a home computer continue to be an increasingly significant segment of those who e-file.