What are the other details that are involved with the Form 4868?
Here in the Form 4868 through Tax2efile comes handy by virtue of its designed existence and as structured by IRS gives a very valuable extension of time of 6 Months to the form filers of 1040, 1040-A, 1040-NR, 1040NR-EZ, 1040-PR or 1040-SS and 1099. The Form 4868, although it helps as credit to these beneficiaries with the extension and this would never help in terms of whatever tax payable as calculated as on May 16th.
At Tax2efile, we simplified filling out your 4868 extension with our easy-to-use website. With this form, the IRS is allowing up to 6 months of additional time to file your 1040, 1040-A, 1040-NR, 1040NR-EZ, 1040-PR or 1040-SS and 1099. It is important to keep in mind that this extension only applies to the filing of your return and it is not an extension of any taxes that are owed once calculated on May 16th.
At Tax2efile we strive to keep our customers informed on the latest news from the IRS especially when it comes to tax deadline extensions. Due to the pandemic the IRS has extended the deadline to file individual tax returns to May 17th. It is important to note that this does not extend the time to pay for any taxes owed.
As a reminder, when the tax owed is not paid on the due date as directed by the IRS, then those individuals, independent contractors, sole proprietorships(Schedule-C) and single member LLCs are all subject to a late filing penalty with interest, which may go up to a maximum limit of 25%.
Note: If 90% or more of your taxes owed are deemed to be payable on the tax due date of May 17th, you may be qualified to receive an extension, as stated on Form 4868.
E-file with us & Get an Automatic Tax Extension Return for up to 6 Months!