Now that you’ve gotten extra months to file your taxes by doing an online tax extension with FileLater you might be curious what happens next. With the extra time our team has addressed some of the most common tax extension questions.
Don’t have enough time to get your taxes filed by the end of the tax season? Maybe you’re also waiting for certain tax information and details as well? Have no fear, you are eligible for a tax extension that will give you extra months to file your taxes.
The Federal income tax is made up of 7 rate brackets (10%, 15%, 25%, 28%, 33%, 35%, and 39.6%). Only the income you earn within a specific bracket is subject to that specific tax rate – therefore, moving into a higher tax bracket does not make all of your income taxable at a higher rate. The amount of tax you owe the IRS each year is based on your income level and your filing status.
Nobody enjoys doing his or her taxes. Most Americans live a busy lifestyle that is made more chaotic, stressful, and confusing come tax season. Finding enough time to sit down for multiple hours and sift through all the forms, receipts, and tax changes for that year isn’t fun for anyone. Many people don’t know they are eligible to get a tax extension that grants them six extra months to file their taxes.
The IRS uses Taxpayer Identification Numbers (TINs) in the administration of U.S. tax laws. All TINs are issued by the IRS except for Social Security Numbers (SSNs), which are issued by the Social Security Administration (SSA) instead. You must provide your TIN on all tax returns, schedules, statements, and other tax-related documents.