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.
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