Personal Tax Extension Resources Archives - Page 23 of 28

Top 100 Reasons to File a Tax Extension

Stop searching for a reason to file a tax extension for yourself (or your business). There are a hundred reasons to request an extension and they’re listed right here for you. So if you need a reason to make yourself feel like less of a procrastinator, just use one of ours!

The good news is that you don’t need a reason to get an income tax extension. When you file for an extension, the IRS does not require you to provide a particular reason. Tax extensions are automatic ― and that’s listed as Reason #3 (in case you’re keeping track).

1. Filing a tax extension (Form 4868 for individuals, or Form 7004 for businesses) is easy.

2. If you get a tax extension, there’s less of a chance that you’ll be audited by the IRS.

3. Tax extensions are automatic and you don’t need a reason to get one ― the IRS doesn’t ask.

4. You bought or sold a house within the last year, making your life more complicated for tax purposes.

5. A tax extension gives you 6 more months to file your personal tax return.

6. More than two-thirds of U.S. taxpayers e-file their taxes these days, so why shouldn’t you e-file an extension request now and then e-file your taxes later?

7. Unemployment has made your life more complicated tax-wise and you’re not sure how your filing situation might change.

8. If you file a tax extension online, you can save that last stamp you have for Grandma’s birthday card.

9. Taxes are just too darn complicated to figure out by April.

10. There’s no penalty to filing a tax extension. But filing an extension can help you avoid certain IRS penalties.

11. This is your first time ever filing taxes.

12. You had a child last year and your tax situation is even more confusing now.

13. You just moved into a new home and you haven’t even had time to unpack yet.

14. First it was the holidays, and then came the Superbowl ― now it’s time for spring cleaning, and that comes before taxes.

15. Taxpayers who request a personal tax extension have their own special tax deadline in October.

16. You’re a business owner and you’ve been incredibly busy working to nurture and grow your company.

17. You like having options and a tax extension means you have the option to file later. You also don’t necessarily have to wait until October to file your return.

18. You secretly enjoy watching everyone else stress out while you relax during April.

19. You thought you could do your taxes without an accountant ― but boy, were you wrong!

20. It’s free to e-file a tax extension.

21. You’re going to use your CPA to file your taxes, but right now you can’t afford the rates.

22. Life is just too complicated these days and you can’t get all of the paperwork together in time.

23. You came down with a bad cold or the flu.

24. A foreclosure on your home has changed your tax situation.

25. You just became an American citizen, but you can’t even figure out where to begin with your taxes.

26. It’s good for the environment because when you e-file a tax extension, no papers or envelopes are needed.

27. You are a member of the U.S. Armed Forces and you have been deployed.

28. It’s easy to do and it takes only minutes online!

29. A dream vacation beckons ― the best fares for flights were during tax season and you don’t want to miss out on a great deal.

30. A divorce has made your life more complicated tax-wise.

31. There are just not enough hours in the day for Facebook, Twitter, Instagram, and taxes.

32. Your accountant told you to file a tax extension.

33. It’s snowing or raining, and staying in bed all day sounds like a much better idea than doing taxes.

34. Official IRS e-file providers (like FileLater.com) get 98% acceptance rates.

35. You just flat-out hate doing your taxes.

36. Your dog ate your tax paperwork.

37. You’ve been audited and it’s time for revenge.

38. You tried getting support from your tax software company, but you couldn’t get any help.

39. You’re an entrepreneur and business taxes aren’t your specialty (and you don’t want them to be).

40. By using Electronic Funds Withdrawal (EFW), you can make a tax payment with your extension to the IRS.

41. You’re out of the country and you won’t return until after the April filing deadline.

42. It’s your busy season for sales.

43. Tax extensions are inexpensive, especially compared to the penalties and interest incurred if you fail to request an extension.

44. You got married last year and that has changed your tax situation.

45. The late filing penalties for partnerships can be very expensive.

46. Long story, but… what happens in Vegas, stays in Vegas.

47. Your accountant hasn’t slept in a week because he’s been so busy with clients.

48. You’re a serial entrepreneur who has several LLCs for your rental properties.

49. You can’t afford to make a tax payment now, but you don’t want to compound the issue by not doing anything.

50. You’re missing a 1099 tax form.

51. Even if you expect a tax refund, your taxes need to be filed.

52. As long as you know your name and Social Security Number (SSN), you really can’t be rejected for a tax extension.

53. Avoid the long, annoying lines at the Post Office every tax season.

54. A death in the family has made life more complicated.

55. Millions of people file for tax extensions every year.

56. You have unresolved tax issues from previous years.

57. E-filing a tax extension means you get email confirmation from the IRS that your request has been approved.

58. You haven’t reconciled QuickBooks yet.

59. You moved and you haven’t received all of your tax documents in the mail yet.

60. Extending your business tax deadline means just one trip to the accountant.

61. Your business shuts down for March Madness.

62. You and your business partner just can’t find a time to meet.

63. You sold some stocks or other investments and that has altered your tax situation.

64. Even if your business didn’t make any money last year, you must request a tax extension if you want more time to file.

65. Filing a tax extension with FileLater is fast and your personal information is kept secure.

66. You started a new business and didn’t realize that you’re missing a lot of supporting documents.

67. Almost half of all businesses file for tax extensions, so why shouldn’t you?

68. You started a business this year and you have no idea where to begin in terms of business taxes.

69. It slipped your mind that the deadline for business taxes is in March (not April, like for personal income taxes).

70. You’re waiting for a K-1 tax form for your business return.

71. You can’t find your W-2 tax form.

72. You qualify for some federal tax credits or tax deductions, but you can’t find good information about how to apply them.

73. Your spouse is in the military and they’re the person who normally does your taxes.

74. Your accountant is going to charge you way too much for a tax extension when you can do it yourself.

75. Your car broke down and your CPA doesn’t make house calls.

76. You are out of the country for work.

77. Your doctor told you to avoid high-stress situations — so avoiding filing during busy April is better for your health.

78. You don’t have an accountant and you need more time to find one.

79. Your wife usually handles your taxes, but she’s not doing it this year.

80. You won the Lottery and you spent a lot of money this year. It’s going to be a while until your accountant finishes going through your receipts.

81. A tax extension can be e-filed directly to the IRS.

82. You bought a rental property within the last year, which has changed your tax situation.

83. Your spouse is in the process of getting their Social Security Number (SSN).

84. The lines at your local tax office are way too long.

85. You’re missing a 1099 tax form.

86. You got busted trying to do your taxes at work and you don’t want to risk getting fired.

87. You’d like to take advantage of new tax laws.

88. You want to wait until your accountant has more time and doesn’t have to rush.

89. Family obligations for Easter always get in the way of getting your taxes done.

90. Baseball season starts in early April and you need to concentrate on your fantasy team.

91. You file a tax extension online every year, so why stop now?

92. You were using tax preparation software, but it crashed and lost your data.

93. The Masters is on TV. There’s no time for taxes!

94. Your boss is making you work overtime, so you don’t have time to do anything but work right now.

95. Your birthday is in April ― you refuse to celebrate and do your taxes in the same month.

96. It’s way too nice outside today.

97. The IRS can wait!

98. Procrastination is your middle name.

99. You’re not alone ― more than 12 million people file for a tax extension each year.

100. You can’t start and finish your taxes in a single day.

How to Get Help with Your Taxes

You can get help with unresolved tax issues, order free publications and tax forms, ask tax questions, and get information from the IRS in several ways. By selecting the method that is best for you, you will be able to experience quick and easy access to tax help.

Local Taxpayer Advocates

The Taxpayer Advocate Service (TAS) is an independent organization within the IRS. These advocates help taxpayers who are experiencing economic difficulty and are  seeking help in resolving tax problems that have not been resolved through  normal channels. Advocates are also available to assist taxpayers who believe  that a particular IRS system or procedure is operating incorrectly.

Here  are 7 things that every taxpayer should know about the IRS Taxpayer  Advocate Service (TAS):

The TAS is your  voice at the IRS.
The service is  free, confidential, and tailored to meet your particular needs.
You may be  eligible for TAS help if you have tried to resolve your tax problem  through the normal IRS channels but have gotten nowhere, or if you believe that an IRS procedure just isn’t working as it should.
The TAS helps  people whose tax problems are causing financial troubles or substantial  costs (including the cost of professional representation). This applies to  businesses as well as individuals.
TAS employees are  familiar with IRS programs and procedures and they know how to navigate  through the system. Your advocate will listen to your problem and help you  understand what needs to be done to resolve it. Your advocate will also stay  with you every step of the way until your issue is resolved.
The TAS has at  least one local taxpayer advocate in every state, as well as Washington, D.C. and Puerto Rico. You can find the phone number and address of your local  TAS office by visiting the IRS website or by calling their toll-free line (1-877-777-4778). Another option is to complete Tax Form 911 (Request for Taxpayer Advocate Service Assistance) and fax or mail it to your local TAS office.
Learn about your  rights and responsibilities as a taxpayer by visiting the TAS Tax Toolkit  website, an independently run website that provides information for individuals, businesses, and tax professionals.

Low-Income Taxpayer Clinics (LITCs)

The Low-Income Taxpayer Clinic (LITC) Program serves individuals  who have a problem with the IRS and whose income is below a certain level. It’s important to note that LITCs are independent from the IRS. Many clinics are able to provide taxpayers with free services — or charge a small fee — for things such as representation before the IRS or in court (for tax audits, tax collection disputes, and other tax issues). If an individual’s native language is not English, some  clinics can provide multilingual information regarding taxpayer rights and responsibilities. For information about the clinics in your area, see IRS Publication 4134 (Low Income Taxpayer Clinic List). For general questions about the LITC Program, you can call the LITC Program Office (202-317-4700) or email [email protected].

Free Help with Preparing Your Tax Return

Free  help in preparing your income tax return is available nationwide from IRS-trained  volunteers. There are two major programs that offer free tax help to qualified taxpayers:  Volunteer Income Tax Assistance (VITA) and Tax Counseling for the  Elderly (TCE).

VITA is designed to assist low-income taxpayers who (earn $53,000 or less and) need help preparing their own tax returns. VITA volunteers are IRS-certified and can provide basic tax return preparation with electronic filing to eligible individuals in local communities. They may also be able to help you identify certain tax credits or tax deductions that you qualify for. Find your local VITA site by calling (1-800-906-9887).

TCE offers free tax help to anyone, but gives priority to taxpayers who are aged 60 and older. TCE volunteers are especially knowledgeable about tax issues that affect seniors, including pensions and retirement. Note that many of the TCE sites are managed by AARP’s Tax Aide Program. To find your local TCE or AARP Tax-Aide site, call (888-227-7669).

Walk-In Services (Self-Help Tax Preparation)

Many VITA and TCE locations also offer self-assistance service for individuals who have simple tax returns and only need a little help, or who don’t have access to a computer. These taxpayers can visit a participating office and a certified volunteer will help guide them through the process of filing a tax return.

File a Tax Extension — It’s Easier Than You Think!

For millions of Americans, tax season is a source of stress. The pressure of gathering financial documents, double-checking deductions, and ensuring accuracy can be overwhelming, especially as the April 15 deadline looms. But what if you had more time? Fortunately, the IRS allows taxpayers to file a tax extension, granting an additional six months to complete their returns. The best part? It’s a simple process that anyone can do.

Understanding Tax Extensions

A tax extension is a formal request to the IRS for extra time to file your tax return. When approved, it extends your filing deadline from mid-April to mid-October, giving you additional time to organize your finances, track down missing documents, or consult a tax professional. However, it’s important to note that an extension grants extra time to file, not extra time to pay. If you owe taxes, you must estimate your liability and pay by the original April deadline to avoid penalties and interest.

Why File a Tax Extension?

Many taxpayers assume that filing an extension is only for those who are disorganized or procrastinating. In reality, there are many legitimate reasons why individuals and businesses take advantage of this option:
Missing Documents: If you’re waiting on important tax documents like K-1s, 1099s, or W-2 corrections, an extension ensures you file an accurate return.
Complex Tax Situations: Business owners, freelancers, and investors often have more complicated returns that require additional time for calculations and deductions.
Life Events: Major life changes like a move, divorce, illness, or a death in the family can make it difficult to meet the April deadline.
Tax Strategy: Some taxpayers use extensions to explore tax-saving opportunities, such as retirement contributions or investment deductions.
Professional Assistance: Accountants and tax preparers are in high demand during tax season. Filing an extension may provide the time needed to get professional help without the rush.

How to File a Tax Extension

The process of filing a tax extension is straightforward and can be done in just a few minutes. Here’s how:

1. Choose Your Filing Method

The IRS offers multiple ways to request an extension:

Electronically: Use tax software, an IRS Free File provider like FileLater, or a tax professional to e-file Form 4868, the Application for Automatic Extension of Time to File. To file a personal e-file Form 4868. For business extensions, you will need to e-file Form 7004

By Mail: Download Form 4868 from the IRS website, fill it out, and mail it to the appropriate IRS address.

2. Estimate Your Tax Liability

Even though an extension grants more time to file, any taxes owed are still due by the original deadline. If you fail to pay at least 90% of your estimated tax bill, you may incur late payment penalties and interest. Use last year’s return and current income records to estimate your liability.

3. Make a Payment If Necessary

If you owe taxes, you can make a payment when filing your extension. The IRS provides several payment methods, including Direct Pay, the Electronic Federal Tax Payment System (EFTPS), and credit or debit card options. Paying at least part of your estimated tax bill can reduce potential penalties.

4. Keep Records of Your Extension

After filing, retain proof of submission, whether it’s an electronic confirmation or a mailed receipt. This documentation is crucial if any issues arise with your extension request.

What Happens After You File an Extension?

Once your extension is granted, your new filing deadline is October 15. During this extra time, you can:
Gather and review all necessary tax documents.
Seek advice from a tax professional.
Double-check for deductions and credits that may lower your tax bill.
File an accurate and complete return, minimizing the risk of IRS audits or amendments.
Common Myths About Tax Extensions
Despite being a widely used tool, tax extensions are often misunderstood. Here are some common myths debunked:

Myth #1: Filing an Extension Increases Your Risk of an Audit

Many taxpayers fear that filing an extension will put them on the IRS’s radar for an audit. In reality, the IRS does not penalize taxpayers simply for requesting more time. In fact, filing an accurate return late is often better than rushing and making errors.

Myth #2: Extensions Mean No Late Fees or Interest

An extension only extends the time to file, not the time to pay. Any unpaid taxes after the original deadline will accrue interest and possibly penalties. This is why estimating and paying your tax liability on time is crucial.

Myth #3: You Need a Special Reason to File an Extension

The IRS does not require you to provide a reason for requesting an extension. It is granted automatically as long as you file Form 4868 correctly and on time.

Myth #4: Filing an Extension Looks Bad

Some believe that needing an extension suggests financial irresponsibility or disorganization. In reality, extensions are a routine part of tax planning for individuals and businesses alike.

Who Should Not File an Extension?

While extensions can be beneficial, they are not for everyone. Here are situations where it may not be the best option:

If you are expecting a refund, delaying your return means delaying your refund.
If you cannot afford to pay your estimated taxes, an extension won’t eliminate late payment penalties.
If you need your tax return for financial transactions, such as applying for a mortgage or student aid, filing later could cause delays.

Final Thoughts

Filing a tax extension is a simple and strategic way to give yourself extra time to ensure accuracy and maximize deductions. Whether you’re facing a complex tax situation, waiting on documents, or simply need more time to work with a tax professional, an extension can help you avoid costly mistakes. Just remember that while you get more time to file, you still need to pay any owed taxes by the original deadline to avoid penalties and interest.

Tax season doesn’t have to be stressful. With a well-planned approach, you can use an extension to your advantage, file with confidence, and stay in good standing with the IRS. So, if you’re feeling rushed this tax season, take a deep breath, file an extension, and give yourself the time you need to get it right.

Why April Is the Worst Time of Year to File Income Taxes

If you have ever worked with an accountant who helped manage your business or personal income taxes, you know that every March and April is crunch time for them. Since the tax filing season can be so chaotic and busy, why not take the pressure off (both you and your accountant) by obtaining a tax extension? In fact, FileLater can help you request an extension online in just minutes.

Here are a few reasons to get a tax extension, and give yourself (and your accountant) some time to breathe this year.

Filing in April Can Lead to a Rushed Tax Return
When you’re up against the April filing deadline (or March for business taxes), most accountants and tax preparers don’t have all the time needed to devote to each individual client. This means that they could overlook some crucial tax credits or tax deductions that you qualify for. By obtaining a tax extension, your accountant is granted extra time to handle your tax situation and ensure that you’re claiming every tax break for which you are eligible.

Long Hours and Less Sleep Mean More Potential Mistakes
Even bus drivers are required to sleep eight hours a night ― but your accountant is not. During the rush of tax season, many accountants get pushed to the limit and end up working eighteen-hour days. A lack of sleep and concentration can mean that they’re more likely to make errors on your tax forms. Avoid potential mistakes by getting a tax extension, allowing for plenty of time to double- and triple-check your tax return.

April Filing Can Cost You More Money
Many accountants and tax preparers charge higher rates for last-minute filing, in order to discourage people from waiting until the eleventh-hour. This is done so the accountant can avoid an unmanageable workload during the last few days before tax returns are due. If you have procrastinated on getting your tax materials together, you could pay for it… unless you file for a tax extension.

Why Get In Line Behind Everyone Else?
If you are filing your taxes at the same time everyone else is, you’re likely going to be further down on your accountant’s list. You may end up spending a lot of time waiting for appointments and returned phone calls. And if you miss one… it may be near impossible to find another opening. Separate yourself from the herd and get a tax extension, giving you and your accountant more time to prepare.

No One Is Fond of Tax Season
Your accountant may make most of their money during tax filing season, but that doesn’t always put a smile on their face. March and April are the most stressful and chaotic times of year in this profession, and clients might have to deal with an overworked, cranky tax preparer. Have a more relaxing spring and request an extension of time to file your income tax return.

This year, consider giving yourself and your accountant a break. You don’t even need an account to help you request a tax extension from the IRS. Simply file your personal tax extension or business tax extension online using the FileLater system, and call your accountant in the early fall.

Why Tax Extensions Make Sense in a Bad Economy

This is a financially difficult time for many Americans, and it’s understandable that most taxpayers want to submit their tax returns as quickly as possible in order to receive their tax refund. But remember that patience is a virtue, and filing a tax extension can be useful in many situations.

Here are five reasons why a tax extension may be good for you, particularly in a weak economy.

Reason #1
A tax extension gives you more time to find every tax credit and tax deduction that you are eligible for. In these uncertain times, you want to hold onto as much of your income as you can. By obtaining an extension of time to file, you can ensure that you’ve filed the most advantageous tax return possible.

Reason #2
Even though any tax that you owe must still be paid by the original deadline (April for individual taxpayers or March for businesses), you may discover that the interest and penalties assessed by the IRS are lower than the interest you are paying on other debts. So if you really need that money for something besides handing it over to the IRS, a tax extension allows you that option (albeit for a fee).

Reason #3
Slow and steady wins the race. In the event of a favorable change in tax laws (which happens all the time), you could suddenly become eligible for lower interest rates or additional tax deductions. It really doesn’t hurt to request a tax extension and wait to file until the fall season ― and it could end up saving you more money.

Reason #4
In times of financial uncertainty, you may have more immediate problems to deal with than your Federal income tax return. Take some of the burden off your shoulders by filing for a tax extension.

Reason #5
If you are like many Americans and the economy has forced you to change jobs, sell investments, move, or tap into your retirement account, you could probably use more time to handle your (now) more complicated tax return. The same goes for business owners who have gone through considerable infrastructure changes or must report greater losses. Give yourself some breathing room and file for an income tax extension online using the IRS-approved FileLater system. It takes just a few minutes to submit, and it gives you five or six extra months to prepare your income tax return.

Five Reasons to E-File Your Tax Extension

Does it seem like the U.S. tax code is getting more and more complicated every year? If it feels like filing an income tax extension is more trouble than it’s worth, think again ― you can file it online in just a few minutes.

Here are five reasons why you should e-file your tax extension:

1. E-Filing Your Tax Extension Is Paper-Free
Save a tree and save yourself the hassle of filling out paper tax forms by using FileLater’s convenient e-filing system. No extra documents to deal with ― just a simple online form.

2. E-Filing Is the Only Way to Get IRS Confirmation That Your Tax Extension Has Been Approved
The FileLater system will keep track of your electronic tax extension request and inform you when it has been approved by the IRS. As a FileLater customer, you can also log in any time to check the status of your extension. On the other hand, if you file a paper tax extension request (Form 4868 for individuals or Form 7004 for businesses), there’s no way of knowing whether your extension has been approved or not — you would only be notified if your extension is rejected.

3. E-Filing a Tax Extension Is Fast and Easy
With FileLater, your tax extension form can be filled-out and submitted in just minutes. Individuals may receive an additional 6 months to file, while businesses may get 5 or 6 months (depending on the type of entity). By requesting a tax extension, you can help relieve your own April (or March) filing burden without even breaking a sweat.

4. Electronic Filing Is the Preferred Method of the IRS
Everyone is going paperless these days, and the IRS is no exception. Over 122 million returns were filed electronically in 2013. FileLater is an authorized IRS e-file provider. With the FileLater system, you can securely e-file Form 4868 or Form 7004 online. The IRS also recommends that taxpayers e-file their tax returns because it generally results in a faster tax refund.

5. With E-Filing, Nothing Gets Lost in the Mail
No more standing in line at the post office on tax day! When you e-file your tax extension request, you don’t have to worry about it slipping through the cracks in the chaos of tax season. And by using FileLater, you will get an official IRS confirmation of your tax extension and you’ll know that your tax forms are in good hands.

Don’t wait any longer! E-file your income tax extension today with FileLater!

VIDEO: Say Goodbye to April 15!

There are lot of reasons to file a tax extension. In fact we’ve already written about the Top 100 Reasons to File a Tax Extension. But the reason that all of us can relate to is saying goodbye to April 15 and hello to October 15.

Here’s a short video about how filing a tax extension will change your tax deadline.

Why Use FileLater for Your Income Tax Extension?

There are a few different methods approved by the IRS for filing your income tax returns and tax extension forms.

Here are some reasons why you should consider using FileLater.com for your tax extension:

It’s Easy
All you have to do to request a tax extension is answer a few simple questions, and the FileLater system will do the rest. FileLater will automatically fill-out your IRS Tax Form 4868 (personal taxes) or IRS Tax Form 7004 (business taxes) and send it to the IRS electronically. You will be notified as soon as your tax extension has been approved. You can even pay any tax that you owe online using FileLater’s electronic payment (e-payment) option, which sends your payment directly to the IRS.

FileLater Is Based in the United States
Unlike some tax e-filing websites, FileLater is based in the United States. FileLater is owned and operated by U.S. tax-paying residents.

FileLater Will Submit Your Personal AND Business Tax Extensions
FileLater is the only company that handles both types of tax extension requests. Depending on your particular situation, you can obtain a five- or six-month extension for your personal or business income taxes ― and it only takes a few minutes.

FileLater Is Reliable and Secure
FileLater’s online application was designed by professional tax experts to ensure accuracy and ease of use. FileLater also has the best acceptance rate in the industry for online tax extensions ― better than 98%! FileLater uses the latest in electronic security technology to make sure that your personal information remains safe and confidential. With FileLater, you know that your income tax extension is in good hands.

FileLater Provides Federal AND State Tax Extension Information at Your Fingertips
FileLater offers comprehensive tax extension information for all 50 states and the District of Columbia, as well as Federal tax extension applications. Find out everything you need to know about tax extensions and then file your request online, all right here.

FileLater Is There for You Every Step of the Way
FileLater has a dedicated support team― the best in the tax extension industry. FileLater is committed to ensuring that your information is accurate and your tax extension is filed properly and successfully. FileLater will answer any questions that you have, help you manage any issues that arise, and go the extra mile to make sure you are happy with the FileLater service.

Top Six Reasons to File an Income Tax Extension

Do you think income tax extensions are just for people who don’t have their act together? Not quite. A personal or business income tax extension is easy to obtain and can be useful for just about any taxpayer or business owner. Whether you want more time to ensure that your tax return is accurate, or a chance to make certain that you’ve claimed all possible tax credits and tax deductions, there are many situations in which a tax extension can help.

Here are six reasons why you should consider filing an income tax extension:

1. A tax extension gives you more time to get paperwork in order.
Why rush around during the first two weeks of April if you don’t have to? With a tax extension, you can take your time and ensure that your tax return is accurate and that you’ve taken advantage of every tax benefit you’re entitled to. Many individuals and business owners file for tax extensions every year as a matter of course, just to ensure they have the time they need.

2. Your tax accountant will be able to focus on you.
If you use an accountant to file your taxes, chances are that they’re just about going insane by the end of March. Break away from the herd by requesting a tax extension and make sure you get the professional attention you’ve paid for (from someone who’s actually slept in the last week or two). Note that you don’t need a tax accountant to file for a tax extension. You can do it online yourself, right here at FileLater.com.

3. A tax extension helps you avoid the chaos of filing season.
Don’t stand in line at the post office or wait around forever to get your accountant’s attention. Getting a tax extension means you can take your time and wait until the rest of the country is done with the April deadline frenzy.

4. You might be able to take advantage of new tax laws.
Tax laws are continuously changing. If you obtain a six-month extension to file your tax return (in October) you just might be eligible for a brand new tax deduction or a change in taxpayer status.

5. A tax extension can lower your chances of an audit.
The government loves quotas, and IRS agents must audit a certain number of tax returns every year. However, they usually fill their quotas by the April filing deadline. Take yourself out of the audit pile by getting a tax extension and breathe a sigh of relief.

6. The IRS doesn’t need a reason ― so why should you?
The IRS automatically grants a six-month tax extension to anyone who accurately fills out IRS Tax Form 4868 (for personal tax returns) or IRS Tax Form 7004 (for business tax returns). So take your time with your taxes this year and file for your tax extension online in just minutes.

5 Myths about Income Tax Extensions

Think you know everything you need to know about income tax extensions? There are several common myths that taxpayers should be aware of when it comes to requesting an extension of time to file.

Here are five of the most common misconceptions about tax extensions:

1. The IRS doesn’t like it when people file for tax extensions, and they’ll probably turn me down if I don’t have a really good reason.
Wrong! The IRS automatically grants a 5- or 6-month extension to anyone who fills out the form correctly. They don’t even ask you why ― because it doesn’t matter to them. Many taxpayers (both individuals and businesses) routinely file for tax extensions every year just to ensure accurate, advantageous returns.

2. A tax extension will make me more likely to be audited.
Quite to the contrary. Statistically speaking, your chances of an audit may actually be lower when you file for a tax extension. Many people believe that IRS agents are required to audit a certain number or percentage of tax returns every year, but they typically fill their quotas well before the October extended filing deadline. (The IRS won’t tell anyone their audit secrets, though).

3. A tax extension sounds complicated, so I’ll need an accountant to handle it.
A tax extension can be requested quickly and securely on your own from the comfort of your personal computer. Filing an income tax extension is easy with the FileLater system, which helps you e-file your tax extension online in just minutes. At FileLater.com, we go beyond the tax jargon by electronically submitting the proper form for your Federal tax extension (IRS Form 4868 for individuals and IRS Form 7004 for businesses).

4. I’ll be stuck waiting until October to file my taxes, even if I’m ready in June or July.
Not true. You can actually file your income tax return anytime before the due date ― whenever you’re ready (although the IRS usually starts accepting returns in January). You can even submit your return before the original April filing deadline (March for businesses) if you have all your paperwork in order by then.

5. Nobody else does it.
On the contrary, more than 10 million taxpayers file for tax extensions every year! They are so common that even most State governments will automatically grant you a state tax extension if you have an approved Federal extension. A tax extension is a simple and straightforward way to give yourself more time to file the best possible tax return ― and it’s easy to do online with FileLater.