Tag: tax extension

Posts Tagged ‘tax extension’

What to Consider For Tax Filing Extension in 2024?

Posted by admin on April 4, 2024
Last modified: April 4, 2024

Should you require additional time for tax preparation, consider utilizing PriorTax Free request for tax extension or complete and submit Tax Form 4868. This tax form will enable you to request an automatic tax extension for filing taxes until October 15, 2024. Alternatively, you can opt to make an electronic E-File tax payment with PriorTax and designate “extension” as the purpose of the payment. If you need support from a free dedicated tax professional, reach out to PriorTax Support via phone or email now.

It’s important to keep in mind that while obtaining a Form 4868 extension allows for an extended tax filing deadline to submit your tax return, it does not grant additional time to settle any outstanding tax liabilities.

In the event of overdue taxes, the IRS enforces interest charges that accrue on a daily basis. Individual taxpayers are subject to a 3% interest rate imposed by the IRS, in addition to the federal short-term interest rate determined by the government quarterly.

tax extension

There Are Other Tax Penalties To Consider As Well

In the event that an individual fails to submit their tax return by the specified deadline, which includes any tax extensions granted, they may face the consequences of the failure-to-file penalty.

If taxes are not paid by the tax payment deadline, a failure-to-pay penalty will be imposed. The IRS will apply a 0.5% charge monthly on the outstanding taxes, up to a maximum of 25% of the unpaid amount.

If both penalties are incurred within a month, the 5% failure to file penalty will be offset by the 0.5% failure-to-pay penalty.

Already Have Extended Time to File My Taxes?

You might have extra time to file your tax return—here’s who qualifies

In the United States, the majority of citizens are expected to submit their 2023 federal tax return by April 15. However, specific circumstances, such as residing in designated regions or serving in the military, could extend this deadline for some individuals.

In circumstances where military personnel are in combat zones, the deadline for federal tax filing and payment is extended by 180 days following the conclusion of their active service in that area, surpassing the usual April 15 deadline. Eligible individuals can also request further extensions if they are currently on active duty.

Exceptions from Requesting Tax Extension

In light of the recent natural calamities affecting various states in 2023, the Internal Revenue Service has introduced an extension for federal tax return deadlines. This initiative aims to provide residents with additional time for the preparation and submission of their tax returns. Below is a compiled list of the states eligible for this assistance, presented in alphabetical order.

Different states have various deadlines for filing income taxes, with the majority falling on April 15, 2024. To request an extension beyond this date, it is essential to reach out to each state individually.


In the wake of intense storms and flooding that hit San Diego County starting on January 21, residents in California now have an extended deadline until June 17, 2024, to submit their federal tax returns.


In light of the recent intense storms and floods that struck Connecticut starting on January 10, residents in the affected areas, including New London County, the Mohegan Tribal Nation, and Mashantucket Pequot Tribal Nation, will now have an extended deadline of June 17, 2024, to submit their federal tax returns.


Residents in various Maine counties hit by the recent severe storms and flooding from December 17, 2023, onwards are now granted an extended deadline of June 17, 2024, to submit their federal tax returns. This relief measure applies to individuals residing in Androscoggin, Franklin, Hancock, Kennebec, Oxford, Penobscot, Piscataquis, Somerset, Waldo, and Washington counties.


Residents residing in various counties in Michigan who experienced the aftermath of severe weather conditions, including storms, tornadoes, and flooding commencing from August 24, 2023, are granted an extension until June 17, 2024, to submit their federal tax returns.

Rhode Island

Residents residing in Providence County, Rhode Island, who have faced the impact of intense storms, floods, and tornadoes that commenced on September 10, 2023, are eligible for an extended federal tax return deadline until June 17, 2024.


Residents in Tennessee impacted by the severe storms and tornadoes that started on December 9, 2023, are now being granted an extension until June 17, 2024, to submit their federal tax returns.


Spokane County, Washington, residents impacted by the wildfires that started on August 18, 2023, are now granted an extension until June 17, 2024, to submit their federal tax returns.

West Virginia

Individuals in West Virginia who have been impacted by the recent severe weather events, including storms, flooding, landslides, and mudslides that started on August 28, 2023, now have an extended deadline of June 17, 2024, to submit their federal tax returns.

Those Who Live Abroad Can File Tax Return or Tax Extension a Little Bit Later

Individuals residing in foreign countries have the option to delay their tax filing, although the deadline for tax payments remains April 15. American citizens and resident aliens who are living and employed outside the U.S. and Puerto Rico are granted a natural extension of two months for filing taxes, up until June 17, 2024.

In contrast to the aforementioned states, tax payments must be submitted by April 15 to avoid incurring interest and penalties on late payments.

How to File a 2024 Tax Extension and What are Extended Tax Deadlines

Posted by admin on February 1, 2024
Last modified: February 12, 2024

In 2024, individuals seeking to file a 2024 tax extension and have more time to complete their tax obligations will find this guide invaluable. Discover the process of obtaining an extension and the revised tax filing deadline, which is October 15. that applies to you.

The deadline for paying taxes and filing tax returns for the year 2023 falls on April 15. However, if you require additional time for tax flining, you can request an extension until October 15, 2024, to complete your filing.

It is not uncommon for individuals to require additional time beyond the April deadline. In fact, according to IRS data, approximately 10% to 15% of Americans opt to file a tax extension form each year. By submitting this form to the IRS on tax day, filers are granted an extension of approximately six months to complete their tax filings.

Navigating the intricacies of tax deadlines can be quite perplexing. It’s important to note that while there may be an extension for filing your taxes, the same cannot be said for making your payment. In the case of tax year 2023, with the filing deadline falling in 2024, it was crucial to submit your request for a tax extension by the customary April 15. Failure to do so would have resulted in incurring a penalty.

Here’s what you need to know about federal tax extensions and their deadlines.

2024 tax extension

For 2024, What is as 2024 Tax Extension?

When individuals require additional time to submit their federal personal income tax return, they can request a tax extension from the IRS. This can be done by completing the Tax Form 4868, the Application for Automatic Extension of Time To File U.S. Individual Income Tax Return.

In contrast to its counterparts, the form for requesting a tax extension is notably concise, requiring only a brief time investment. However, before proceeding, you must furnish key personal details and make an informed projection of your annual tax obligations.

What Does a 2024 Tax Extension Actually Extend?

Are you inquiring about the purpose of a tax extension? Allow me to shed some light. A tax extension grants an extension to the deadline for submitting your fully filled-out 1040 personal tax return while your payment time remains unchanged.

When it comes to filing for an extension with the IRS, it’s important to note that this only pertains to your federal income taxes. However, if you are also liable for state income tax, a separate extension must be filed in that regard. In cases where you don’t have all the necessary information to calculate your owed taxes accurately, it is common practice to make an estimated payment.

This is a method you can utilize to obtain this estimate. Discover the convenience of PriorTax, an online tax filing service like the PriorTax E-File that connects you to a dedicated tax professional free to assisting you. Enter your financial details effortlessly and watch as the intelligent PriorTax E-File estimates your tax obligations effortlessly. With PriorTax, a free dedicated tax professional will assist you in analyzing the figures and generating a realistic estimate.

What Happens If you Don’t File Taxes in 2024?

The dire consequences of not tax filing in time can be significant. To prevent facing a penalty for late filing, it is advisable to request a tax extension. However, it is important to note that you may still incur a failure-to-file penalty if you do not submit your completed return by the extended October deadline.

Before you consider filing for an extension without making a payment, take a moment to reconsider. In the event that you fail to settle at least 90% of your tax obligations by the designated deadline, the IRS has the authority to impose a failure-to-pay penalty, potentially reaching 25% of the total amount owed.

Do I Need to File 2024 Tax Extension?

Is it necessary for me to file a tax extension? The majority of individuals in the United States who require extra time to file their taxes will likely opt for filing an extension.

In the event that you have been directly affected by a natural catastrophe, such as a devastating hurricane or wildfire, you may be eligible for an extension on your tax filing.

In the case where an individual has been living or working abroad during the tax filing deadline, they may be eligible for an automatic extension. This provision applies to several groups, such as military personnel and their families, and can grant a filing extension of two to six months.

In case you fall under certain criteria, such as being a qualifying member of the military, there is a possibility for you to qualify for an extension automatically. In addition to extensions provided for individuals living overseas, those in combat zones or hospitalized due to injury may also be eligible for automatic extensions.

When individuals anticipate receiving a refund, they often find that the IRS extends more leniency towards them if they do not request an extension. By failing to meet the April deadline, they can avoid penalties associated with the failure to file a return. Nonetheless, taxpayers need to be aware that their entire refund can be forfeited if they fail to submit a completed tax return within three years of the initial due date.

November 16. A New Extended 2023 California Tax Extension Deadline

Posted by admin on October 19, 2023
Last modified: October 23, 2023

Taxpayers in California have been offered an California Tax Extension of the 2023 tax deadline. Here’s what you need to be aware of concerning the extra time the Internal Revenue Service (IRS) gives.

This year, California was met with an unfortunate tragedy as unparalleled snowfall and widespread flooding wreaked havoc on the state. In response to this natural disaster, the Internal Revenue Service (IRS) granted residents affected by the storms an extension to their 2022 tax filing deadlines in 2023.

Are you concerned about the news but unsure what it means?

Don’t worry. PriorTax free Dedicated Tax Professionals are here to help break down which counties are involved and when key dates should be kept in mind and to give you advice on how to go about filing a claim due to this catastrophic event. And remember – we can be there for you when it’s time!

As of October 16, 2023, The IRS has officially extended federal tax deadlines for Californian taxpayers to November 16. This applies to all (55 Counties) but three counties in California – Lassen, Modoc, and Shasta – which were declared disaster areas by FEMA over the course of several months.

California’s Franchise Tax Board has granted an additional extension on filing and payment of state taxes for tax year 2022 to accommodate those affected by disaster areas. Those living in covered disaster areas have until November 16, 2023, to submit their returns. This allowance follows suit with federal tax deadline changes.

Those located in counties announced by the IRS on January 10, January 24, and March 17 as disaster areas are allowed the benefit of an extended deadline to submit their taxes. Unfortunately, those living and conducting business in Lassen, Modoc, and Shasta counties won’t have this reprieve.

california tax extension

California Tax Extension Deadline 2023

Generally, the timeline for paying your federal taxes remains fixed. But in the event of catastrophic occurrences, you are eligible for an extended payment period. As long as your address is one of those located in a declared disaster area, additional time is granted without having to request it formally.

Apart from requesting a California tax extension, you could be eligible to take advantage of a disaster loss deduction on your taxes should your property have been affected by the stormy weather. Further information on this subject can be found below on this page.

In California, those living in federally declared disaster areas included in one or more of three separate declarations have until November 16, 2023, to file and pay their taxes. This date serves as a deadline for taxpayers living under these conditions.

California Disaster Information

In times of stress, such as when suffering property damage from a major storm, filing for a tax extension can be quite beneficial. This extra time will allow you to focus on more pressing tasks, like filling out insurance reports or making necessary repairs.

Although it can be heartbreaking to suffer a loss due to the storms, there is hope: You can apply for a disaster-related tax deduction for either the 2022 or 2023 tax year as long as the federal government has designated your area as an official disaster zone.

For those who have experienced loss due to a disaster in 2022, it is wise to begin collecting and submitting the necessary documents before the 2023 California tax deadline on November 16. This could necessitate obtaining appraisals, filing insurance claims, and other proceedings for determining the worth of your property. Therefore, beginning this administrative work ahead may prove beneficial as it can take time for all these steps to be completed fully.

What are The New Extended Tax and Payment Deadlines for California Storm Victims?

Due to multiple FEMA declarations concerning severe storms, flash flooding, mudslides and landslides that took place over a certain period, tax filing and payment deadlines have been extended until November 16, 2023. All individuals and businesses in the affected area thus have additional time to submit their taxes originally due during this period.

2022 Individual and Business Returns:

Eligible taxpayers can now take advantage of extended deadlines for filing their 2022 returns and contributing to their IRAs and health savings accounts. Their returns, including business and personal income taxes, were originally due on March and April, but are now required by November 16, 2023. This allows for an eight-month extension of the original deadline.

Quarterly Estimated Tax Payment:

The 4th quarter estimated 2022 and 2023 income year payments have been postponed until November 16, 2023. This means individual taxpayers are exempt from making their fourth quarter payment on January 17, 2023. Instead, they can include this with their income return when filed by November 16.

Quarterly Payroll and Excise Tax Returns:

After assessing the current financial situation, I found that the due date for payroll and excise tax returns, which are usually due on May 1, July 31, and October 31, has been extended until November 16, 2023. Furthermore, no penalties will be imposed on payments made between January 8-23, 2023, as long as these deposits occur on or before the 23rd.

What Do I Need To Do to File on a New Extended Tax Extension Deadline?

Taxpayers in a disaster area do not need to contact the IRS for filing and penalty relief, as this is automatically extended. However, there may be instances where affected individuals receive late payment or filing charges with due dates that fall during a postponement period; in such cases, it would be advantageous to call up the number stated on the notice and seek a reduction of penalty.

If impacted, how can I claim a casualty and property loss on my taxes?

Those who experienced damage from a disaster but have not been previously insured or reimbursed can declare the losses on their tax return either for the year in which it occurred (2023) or even go back to the prior year’s return (2022). Additionally, any personal property losses that is not covered by insurance can be deducted, too.

When you are filing your taxes concerning the California disaster loss, clearly note the Disaster Designation- “California, severe winter storms, flooding, landslides, and mudslides” – at the top of the form. Writing it out in bold is a good way to ensure that all details will be taken into account.

Disaster Area Tax Extension Deadline on October 16

Posted by admin on September 28, 2023
Last modified: September 28, 2023

October 16 2023 tax extension deadline has moved from May 15 2023 for disaster area taxpayers in California, Georgia and Alabama.

The IRS has recently announced an tax extension deadline for disaster-area taxpayers in certain parts of California, Georgia and Alabama. Taxpayers from those areas have until October 16, 2023, to make tax returns and payments. This deadline was previously set for the 15th of the month of April.

Millions of taxpayers take advantage of the opportunity to request an extension from the IRS every April. By submitting Form 4868, these individuals have bought themselves six additional months to complete their 2022 tax returns before the due date.

When it comes to the tax extension deadline, you should be aware of a few things. While filing a tax extension may grant you more time to submit your return, it does not give you an additional window to pay your taxes – they were still due in April. Consequently, make sure you file by October 16 at the latest or else you could face additional charges and fees.

tax extension deadline

Automatic Tax Extension Deadline to October 16 for disaster areas

Earlier this year, IRS has declared an extension to the tax filing deadline for individuals and businesses in damaged areas of California, Georgia and Alabama. This change allows citizens in these regions until October 16 of, 2023 to take care of their federal taxes, which was previously set for May 15.

For areas hit by disasters, relief is being provided to those designated by FEMA in three states. Depending on each disaster, there are four distinct declarations with their respective start dates and other details listed on IRS’s Tax Relief in Disaster Situations page. This document contains a comprehensive list of localities eligible for this assistance as well as pertinent information specific to these situations. (https://www.irs.gov/newsroom/tax-relief-in-disaster-situations)

Recent relief has delayed certain tax filing and payment deadlines until October 16 for most calendar-year 2022 individual and business returns, including those for individual income tax, various business returns, and returns of tax-exempt organizations. By postponing these respective due dates from their original dates of April 18, March 15, and May 15, respectively, taxpayers have been given more time to submit relevant documentation.

The October 16 deadline has been extended for taxpayers wishing to make 2022 contributions to their IRAs and health savings accounts.

As a bonus, those employed as farmers who usually submit their tax returns on March 1 will now have an extended period of time to complete this task.

Those who owe estimated taxes for 2022’s fourth quarter are in luck, as they now have until October 16 to make this payment, originally due on January 17, 2023. This means that individuals can avoid making this full payment earlier and instead include it when filing their return before October 16.

By October 16, 2023, estimated tax payments due on April 18, June 15 and September 15 must be paid. Quarterly payroll and excise tax returns that would usually be due on January 31, April 30, and July 31 are also required to meet this deadline.

When you contact your free dedicated tax professional, taxpayers in areas affected by natural disasters can find information regarding various returns, payments, and tax-related actions that are eligible for additional time. Extension paperwork is not required to be filed, nor do they need to call IRS to receive an extended period of time.

Individuals with an address of record in an affected disaster area will get filing and penalty relief from the IRS automatically. They don’t need to call for this assistance. That being said, any person who gets a late tax filing or payment penalty notice from the IRS with due dates inside the postponement period should contact them using details on the notice to request abatement of the penalty.

The IRS is taking extra measures to help those affected by the disaster who may not necessarily live within the affected area. However, they still need access to their necessary records during the postponement period. Those taxpayers can contact PriorTax’s free dedicated tax professionals for support and assistance. This includes individuals or organizations that are affiliated with a government or philanthropic organization and helping with disaster relief activities.

Victims of a federally declared disaster area who sustained uninsured or unsalvaged losses can select to declare such damages on either the present year’s return or the preceding year’s return. Find your dedicated tax professional for more information and to walk you through the process from start to finish.

Penalty, Consequences and Important Next Steps from Missing the Tax Extension Deadline

Posted by admin on September 21, 2023
Last modified: September 22, 2023

Do you need to catch up on the annual tax filing deadline? What are the penalty from missing the tax extension deadline, repercussions, and what should be done next? Tax Day is an expected event that occurs every year, generally on April 15. But even when you know it’s coming, making sure your income tax return is ready in time can be difficult.

Do you need more time to organize all of your income tax documents? Extensions can be the perfect tool to give you some extra days. In this article, we’ll explain the fundamentals so you can get everything sorted out for your return.

Penalty for Missing the Tax Deadline?

Failing to submit a tax return or extension by the specified deadline can result in the IRS imposing a failure-to-file penalty. This penalty is 5% of your total amount of unpaid taxes for every month (or partial month) that goes by without you filing. In extreme cases, this fee can reach as high as 25% of your total taxes owed.

Suppose you have an amount of $10,000 in taxes to pay. The IRS may impose a penalty of $500 per month should you fail to file your taxes on time.

Filing a late tax return without expecting to owe penalties may not incur a penalty from the IRS, but should you think that you might have to pay, consulting a tax professional is wise. In this situation, you will likely face interest and penalties as consequences of delayed filing.

tax extension deadline

Tax Extension Deadline for Filing 2022 Taxes

There are two key dates to consider when considering the tax extension deadline. April 18, 2023, is a date that all taxpayers should mark on their calendars – it’s both the original filing deadline as well as the deadline for submitting an extension request. By filing for an extension, you will have more time to complete your taxes, but any taxes owed still need to be paid by April 18.

The October 16, 2023, tax extension deadline is quickly approaching. But what would you do if you missed the April or October deadline? Can I get more time? To help make sure you’re well informed, contact your dedicated tax professional from PriorTax for free.

What will Happen Missing the Tax Extension Deadline?

Regarding punishment for not making the April tax filing and payment deadline, you may be subject to two different fees: the failure to file a penalty and the failure to pay the fee (in cases where money is owed). Fortunately, those who submitted an extension and followed through with their taxes by their extended deadline are exempt from the failure to file a penalty.

For those of you who let the October deadline come and go without filing, it will result in failure to file penalties that have taken effect as of the original filing date (generally October 15). This could also mean potential failure to pay penalties stretching back to April 15, typically the payment due date.

To help avoid accumulating additional fees or interest, filing a tax return as soon as the October 16, 2023 deadline passes is highly recommended. The sooner you submit it, the better to minimize any extra costs.

Getting Even More Time after the October Tax Extention Deadline?

The October 16, 2023, tax filing extension deadline is firm – no exceptions. So, for anyone who needs to file their taxes for the 2022 tax year, this is the final opportunity to do so without incurring failure to file interest and penalties Charges.

Do you need assistance paying your tax bill? The IRS offers a payment plan option, which allows you to break up the cost into smaller payments. Find your dedicted tax professional for free to learn more about on boarding on an installment agreement with the IRS and get the information you need to stay on top of your taxes.

Tax Installment Agreement

In the event that you are unable to pay your taxes all at once, there is a way to spread it out over time. An installment agreement with the IRS allows individuals to make payments on their tax debt in manageable increments. This type of plan also reduces the failure-to-pay penalty by half, though the IRS does require an administrative fee for establishing such an arrangement.

A successful installment agreement may be easily achieved through the IRS Online Payment Agreement tool, though some instances can require added proof of income and assets. When this is the case, the Internal Revenue Service will limit expenses to a level that is considered reasonable when determining how much can be afforded every month.

Request Your Prior Year Tax Refunds Today Before You Lose Them

Don’t let your tax refund slip away. Even though getting a refund after the due date is still possible, you want to make sure you get all the money.

You have a limited amount of time to request a refund from your tax return, as mandated by IRS regulations. Generally, it is three years from when your taxes are due; for instance, say you still need to file your 2022 return by April 18, 2023, then in 2026, you would no longer be eligible for any tax refunds. After this deadline has passed, it is considered that you have given up on claiming back what belongs to you, and instead, it goes to belonging to U.S. Treasury.

Even though you may not have a tax debt, the IRS still requires you to file a return. Missing documents from prior years can be obtained from your employer, bank, or other third-party sources such as an educational institution or loan provider. Get in touch with a dedicated tax professional from PriorTax for free to walk you through this process from start to finish.

October Tax Extension 2023

Posted by admin on September 14, 2023
Last modified: September 14, 2023

What You Need to Know Before the October 16 tax extension deadline. Tax extension could give you extra time for filing but not for paying. Make sure you file by the October 16th date to avoid any additional charges.

Prior to tax day, the IRS receives millions of extension requests by way of Form 4868. While this does give filers an additional six months to submit their 2022 return, that extra time doesn’t make paying taxes any easier. So be sure you’re still on top of your payment plan!

It’s important to note that even though you may have until October 15 to file your taxes, the payment is still due by April. To better understand how the tax extension deadline works and other related deadlines, here is more info to consider.

It’s no surprise that with tax day quickly approaching, many people struggle to get their paperwork together in time. Last year, the IRS reported that 19 million taxpayers had requested an extension for filing their income tax returns, and the number is expected to be similar this year.

With the October 16, 2023, deadline looming for filing your paperwork, you may have some reprieve from the pressure. Nevertheless, it is important to remember that this extension only gives additional time for filing – less time to pay. Therefore, estimate how much tax you owe and submit it as soon as possible in order to prevent extra fees and interest due to late payments.

October tax extension

What is a tax extension?

Do you need more time to file your federal income taxes? A tax extension may be the answer. When approved, a tax extension can help prevent penalties for late filing with the IRS.

Submitting Form 4868 to the IRS before April 18, 2023, provides an extension for filing taxes that year until October 16. Submitting a payment for any estimated taxes owed is important to avoid additional penalties and interest when requesting an extension. This can be done both online and by mail.

Which states have federal tax deadline extensions?

Due to FEMA-declared natural disasters, certain states have received deadline extensions for federal tax filing and payments. Specifically, this includes individuals’ income taxes, business taxes, and quarterly tax filings. So, what are the affected states?

The IRS has identified certain counties that have been affected by the disaster, and only those individuals living in and businesses established in these areas may be eligible for relief. Generally speaking, this requirement must be fulfilled in order to receive this assistance.

In the event that you were incapable of complying with the tax-filing deadline due to your preparer living in an area affected by disaster or documents for completion of your return being located in said region, You may be eligible for IRS-recognized relief. For more information, visit the IRS dedicated page on disaster aid.

  • Alabama (October 16, 2023)
  • California (October 16, 2023)
  • Georgia (October 16, 2023)
  • Hawaii (October 21, 2024)

Does the tax extension deadline apply to me?

Do the tax extension period apply to you? By submitting IRS Form 4868 before the original filing deadline, you are eligible for a six-month extension until October 16, 2023, to file your taxes. Even though extra time has been provided, paying at least 90% of any tax owed on or before the regular date is important. Otherwise, the IRS could punish you with late payment penalties and interest.

Did you miss the April 18 tax return deadline? You may face both failure-to-file and failure-to-pay penalties, plus interest from the IRS. Not filing for a tax extension before this date could mean your taxes are definitely delayed, according to the agency.

Have I already missed the deadline for the tax extension application?

After April 18, 2023, deadline for tax extension requests has passed and you still haven’t filed your taxes, the IRS advises that you do so as soon as possible in order to avoid penalties and interest that begin to accumulate right away. Furthermore, those struggling to pay their bill can consider various payment plans provided by the agency. There is even a chance of penalty abatement for first-time offenders who meet several criteria.

If I miss paying the taxes by the October tax extension deadline?

Failure to meet the October tax extension deadline comes with consequences. Should you miss it after requesting an extension, then the following will occur:

It’s expensive to delay paying your taxes. Even with a tax extension, the payment due date is April 18th – and interest accrues right away. That means allowing your taxes to go unpaid until October could cost an exorbitant extra fee.

Didn’t manage to meet the April deadline for paying your taxes this year? The IRS late-payment penalty may be higher than usual as a result. Generally, it can be anywhere from 0.5% to 25% of the monthly unpaid amount until the full sum is paid off.

The IRS may impose a late-filing penalty of 5% for every month or partial month your taxes are not submitted on time. This amount can accumulate as much as 25% of the overall amount due to them.

How to file a tax extension

Before the tax filing deadline, you can extend the time to file by submitting Form 4868 electronically or by mail. Alternatively, paying an estimate of what you owe to the IRS with your debit/credit card, IRS Direct Pay, or EFTPS and marking it as a payment for an extension will eliminate any paperwork.

Are you considering a tax extension? PriorTax can assist you from start to finish with filing Form 4868. Contact your dedicated tax professional and explore submitting the form online for free. Upon completing with our free dedicated tax professional, you will receive an email confirmation from PriorTax and the IRS.

eFile Taxes and Tax Extension

Posted by admin on November 25, 2022
Last modified: November 25, 2022

You can eFile federal and state income taxes return electronically using PriorTax. Taxpayers can eFile taxes either through an online tax preparer that is an approved electronic return originator (ERO) such as PriorTax with free support from our Tax Service Professionals.

eFile taxes with PriorTax for your return, and choosing to have the refund directly deposited in your bank account is the fastest and easiest way to receive a tax refund. eFiling taxes will get you your tax refund far quicker than traditional mail. eFiling taxes online also speeds up the time that it takes to receive your tax refund.

PriorTax is an authorized IRS e-Filing provider. PriorTax eFiling software will automatically verify that the returns are completed, correct errors, produce relevant schedules, and transfer your returns from your computer to IRS systems and if requested, to the local state tax systems. To help assure that your eFiled tax return is accurate, only proven, top-quality, PriorTax eFiling service will support all customers along with our free Tax Service Professionals to walk you through to eFile taxes.

efile taxes
efile taxes

You may select to have a PriorTax Tax Service Professional help eFile taxes your return for you electronically, or you may choose to do it yourself.

However, note that some states accept electronic filing of tax returns directly, while others send returns directly to the IRS, then those returns are forwarded to state tax agencies. In addition, some states will not let you file a state-only e-Filed return; they will ask that you e-File your state and federal taxes together.

You do not need to worry that data will end up in the wrong hands or misused, as the IRS, the state, and tax preparers all follow the same privacy rules for electronic returns that they do for paper returns. While you may gather all of the necessary documents for your tax return as you go through the e-Filing process, gathering that information sooner may save time later.

How Can I eFile Taxes with a Tax Extension?

Filing an extension for your taxes is easy with PriorTax. Just submit Form 4868, and we’ll take care of the rest. This will give you extra time to prepare for your return, no matter the reason.

An extension only gives you little bit more time to finish tax filing, but no extra time to pay your taxes. Your tax payments are due on the tax filing deadline, which typically falls on April 15 or if the deadline falls on a holiday or weekend, the next business day.

Not filing your taxes on time can result in some pretty hefty penalties. The IRS will charge you monthly interest on the unpaid balance until you pay the full tax amount you owe. Additionally, failing to pay at least 90% of what you owe can result in a late payment penalty, which is usually half of 1% of the amount owed each month, up to 25%. Finally, not filing your return or Form 4868 by the tax filing deadline comes with a late filing penalty of 5% of the amount you owe for each month, again up to a maximum of 25%. So while eFiling a tax extension may not be penalized, it’s still important to make sure you file and pay your taxes on time to avoid some costly fees.

It’s important to get your taxes filed on time, but sometimes life gets in the way. For example, maybe you’ve been busy with work or taking care of your family, and you just need to get a chance to get your taxes done. That’s okay! The IRS offers a six-month extension for individuals who need a little extra time.

Did You Miss the 2021 Tax Deadline?

Posted by Manisha Hansraj on May 24, 2021
Last modified: May 24, 2021
tax deadline 2021

The tax deadline has come and gone.

If you didn’t file a tax return as yet, we advise that you do it as soon as possible. If you missed the 2021 tax deadline, the good news is you can still file.

Here’s some helpful information before getting started.

Getting a refund?

If you’re due a refund from the IRS, you’re in luck. You are not subject to the tax deadline nor will you be penalized. Technically, you have three years to file from the original tax deadline to claim your refund as well. For example, you have until April 15, 2021 to claim your 2020 tax refund. However, in order to e-file your tax return, you must file by October 15, 2021.

Do you owe taxes?

In the case that you didn’t request a tax extension from the IRS, you must take action by filing and paying now. As a reminder, you must have paid your taxes by May 17 to avoid penalties; with an IRS extension or not.


Did You Miss The 2018 Tax Deadline?

Posted by Manisha Hansraj on October 14, 2019
Last modified: October 23, 2019
missed 2018 tax deadline

Time waits for no one, especially the tax season.

With the year ending soon, another tax season is on the way. If you’re stuck trying to figure out what the next steps are for the missed 2018 tax deadline, keep reading.

Can you still e-file your 2018 tax return?

Although April 15, 2019, was the original tax deadline, you can still e-file your tax return until October 15, 2019. After this date, you will be required to paper-file your tax return. This means that you must to print, sign, and mail your tax return to the IRS and your state department of revenue.


April 15, 2020 is the Last Chance to Claim Your 2016 Refund!

Posted by Manisha Hansraj on May 6, 2019
Last modified: May 9, 2019

2016 refund

Set an alarm on your phone, write on your notepad or put an “x” on your calendar.

Like most taxpayers, you may be rushing to claim your prior year refunds. If you remember that you have a 2016 refund waiting for you, you’re not too late.

Read below to find out if you can still claim your refund.

Can I still claim my refund?

Luckily, because of the IRS Statute of Limitations for prior year refunds. You have three years from the original tax deadline of your return to claim your refund. Otherwise, your refund expires and goes straight to the IRS. That being said, the original tax deadline for 2016 taxes was April 18, 2017, due to April 15th falling on the weekend and Emancipation Day right after.

Deadline to claim your refund