In the tax year 2018 Internal Revenue Service (IRS) announced few more tax benefits. Some Tax rates had increased moderately because of the blowing up modifications and others are remained unchanged. Tax rates for 50 tax provisions had changed due to the annual inflation adjustments. The details about the annual adjustments are given in the revenue procedures. Standard deduction amounts for Married filing jointly is increased to $13,000 and for Married filing separately is increased to $6,500.The...

Summer has started and people are yet to file their annual tax returns with just a month’s time in hand. In this busy schedule of their life, they wouldn’t be ready to file their returns within this month. Taking all these considerations, IRS has introduced something new where all the taxpayers can request the IRS to increase the timeline as per their convenience. Having said that, there are a lot of things that you have to consider...

What’s next after you filed an income tax extension by filing Form 4868 through Etax4868.com, you must be wondering that what happens from now, if you are a first-time tax filer. Do not worry because we are here to explain you the aftermath circumstances once you have filed an extension file 4868. Check whether the tax extension Form 4868 is accepted How to check whether your tax extension form was received by IRS and the approval status...

Form 4868 is for the taxpayers who require an extension of time to file the tax return. With this automatic extension, the taxpayer gets 6 additional months to do the paperwork for the tax return. In order to obtain the automatic extension, you need to report the Form 4868 to the Internal Revenue Service (IRS) before the original filing due date of the tax return. This also covers the filers of the Form 1040, Form 1040 A,...

As the topic most of the taxpayers doubt what to do after filing the tax extension. After filing the extension, the first thing to do is, to pay the owed taxes to the IRS. The extension is made only for filing the tax returns, not for paying the owed taxes. When the IRS did not accept the tax extension, then you must file the tax return quickly even though if you cannot afford to pay the taxes...

When you realize that your tax papers are not ready and mid-April is approaching to file the business income tax return, you can file IRS Form 4968. Even the IRS understands the situation of the taxpayer and offers the automatic extension of time to file the tax return. But, IRS 4868 Form is used for an automatic extension to file the personal tax return. You may use this form when you report Schedule C along with your...

A tax payer cannot request a second extension to file a personal income tax return with the IRS. Instead, the tax payer can request an automatic extension of time by filing Form 4868, this will grant the tax payer an extra 6 months to file the tax returns. Earlier, the tax payer could request an automatic 4 month extension followed by 2 month extension. Form 2688, which was used to request the second extension is no longer...

When you are not able to file your icone tax returns by the due date, you can opt for an extension. But remember, a 4868 extension provides the grace period until Oct 16th but this does not extend the time to pay the tax. Interests and penalties will be included in all taxes which are not paid by the deadline April 18. In few scenarios, federally declared disaster area gets a 6-month extension automatically and people need...

There are many reasons to request an extension for filing the income tax returns by the IRS. The important news is that you no need to provide any particular reason for filing a 4868 extension. When you submit the IRS 4868 tax form extension to the IRS, it is reviewed and the IRS grants you an automatic 6-month extension to file your personal income taxes. Usually, all the federal income tax returns are due on April 15thor...