3…2…1…Time for an Extension

tax timeHi, my name is (enter your name here), and I have yet to file my taxes.   

Time is winding down, and the April 15 deadline for getting in those returns is right around the corner. With all the confusion and delays this tax season, it may seem as though time has just crept up on you. Gathering your important papers and heading to your tax preparer early was just too much for you this year; waiting until the last minute was much easier.  

So…it looks as though you may need more time to file your taxes, and you may be wondering where to even begin. I’ve done a little bit of research for you, and it’s actually quite easy to get what’s called a “tax extension”. Let me explain how it works.   

Fill out Form 4868. This document basically tells the IRS that you want to file for an extension and the form can be submitted electronically or through the mail. You also have the option to pay part of your estimated income tax upfront. Once approved, you are given an automatic six months to file your taxes.   

My suggestion? Go to your nearest Liberty Tax and file before April 15 even if you can’t pay all of the taxes that you may owe. You don’t need an extension in this case! You simply pay what you can and the IRS will bill you for the rest. Keep in mind that an extension gives you more time to get your paperwork to the IRS, not to pay what you owe. Your balance is subject to interest and penalties. All the interesting details can be found on the IRS’s website. 

To avoid the stress and pressure of next year’s tax deadline, call Liberty Tax Service first. 

Posted To: Miss Liberty Tax By: Miss Liberty Tax On: Monday, April 01, 2013
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