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Tax and Tax Information - Late Filing Of Federal Taxes

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Tax and Tax Information * Late Filing Of Federal Taxes

All About Late Filing Of Federal Taxes   
Carl LaFresnaye

The IRS allows for late filing of federal taxes provided the appropriate paperwork is filled out (there's always paperwork!).

This simple guide shows you how to go about it.

Article to continue below----------------------------------------------

U.S. Sales Tax Rates Hit Record High (Forbes)
Shopping blues: Top tax 12%. Chicago's 10.25% highest big-city rate. More Internet tax fights loom.

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Forms for Late Filing of Federal Taxes

The form to apply for an automatic extension of the deadline for filing federal taxes is IRS form number 4868. It is a very simple form to fill out, consisting of just nine questions. The first three questions are merely personal details such as name, address and social security number. The last two are check boxes to mark off if you are a US citizen or resident living abroad or if you file form 1040NR or 1040NR-EZ, for nonresident aliens. The remaining four questions are: the estimate of the total tax liability for the year; the estimate of the total tax payments for the year; the balance remaining when you subtract the latter from the former and the amount you intend to pay. If you cannot afford to pay the entire balance, pay as much of it as you can. You can pay online using a credit card. If you choose to do this, you will get a confirmation number by e-mail, which you will also need to enter on the form.

Article to continue below----------------------------------------------

New York Mayor Bloomberg Presses For Tax On Soda (Reuters Via Yahoo! News)
New York City Mayor Michael Bloomberg urged state legislators to levy a tax on soda, saying the money raised would help plug the state's shortfalls in health care and education funding.
NARUC Asks For Clarification On Broadband Grant Tax Status (Broadcasting And Cable)
Association says money should be tax...

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Who Is Eligible for Late Filing of Federal Taxes?

To qualify for late filing of federal taxes, you need to be able to complete form 4868 accurately and submit it by the normal federal filing deadline. Generally, the IRS cannot extend the deadline for more than six months, but there are certain exceptions for Americans and their foreign spouses living abroad. In these cases, you can apply for an additional two months on top of the six month extension by writing a letter to the IRS Service Center in Austin, Texas explaining why you need these extra two months.

Penalties for Late Filing of Federal Taxes

Late filing of federal taxes can carry substantial penalties if you don't get permission from the IRS first. The penalty for filing late is 5 percent of the tax shown on the form per month; and for paying late, a half percent per month, both up to a maximum of a quarter of the total tax owed. However, the IRS recognizes that some people are forced to pay late due to personal circumstances beyond their control. If this applies to you, call 1-800-TAX-FORM (1-800-829-3676) or look in the phone book for the address of your local Taxpayer Assistance Center, to talk to an IRS official in person.

What Other Authors say about Taxes

Income Tax Software - The Best Ones On The Market by Mike Singh

There are several income tax software programs available on the market to help you complete your yearly taxes. These programs offer tax tips, checklists, and error checking messages to ensure that required...

Finding Free Printable Tax Forms by Carl LaFresnaye

If an individual decides to do his own taxes, there are many different avenues where he can find free printable tax forms for his use. There are websites that provide these forms to individuals at no...

Are Foreclosure Taxable by

The Internal Revenue Service unveiled a special new section for people who have lost their homes due to foreclosure. The IRS also reassured homeowners that, although mortgage workouts and foreclosures...

How To Turn Business Losses Into Cash Flow by Chris Raynal

By Christopher Raynalwww.masteraccountants.co.nzYou have permission to publish this article electronically or in print, free of charge, as long as the bylines are included. A courtesy copy of your publication...

Should You Form a Nevada LLC? by Simon Maher

The short answer is yes...if your business is located in Nevada. Otherwise, your best bet is to form your business entity in the state where your business operates.There many myths about forming Nevada...

Options For Filing And Reporting Small Business Taxes by Gary Ruplinger

Large and small businesses all around the United States are required to file and pay taxes. Small business taxes are applied and determined differently than those of larger corporations. To accurately...

IRS Reports Tax Gap of $300 Billion by Richard A. Chapo

The Internal Revenue Service is reporting that the difference between what U.S. taxpayers owe and actually pay on time totals more than $300 billion a year. Studying over 46,000 tax returns for individuals...

Use Tax Credits To Help Finance Your College Education by P. Nash

Students are always on the lookout for ways to help pay or offset the cost of their tuition. There are various government grants and scholarships available to you if you qualify. But what if you don't...

Where To Find Tax Help by Carl LaFresnaye

Once upon a time, doing your taxes was a job for professionals only, like brain surgery or nuclear science. Nowadays software is available that allows you to file your taxes yourself, giving all sorts...

Self Employment Registration And The Self Assessment Tax Return Form by Terry Cartwright

There is no strict definition of self employment as opposed to not being self employed however the basic rule is if you have income other than is taxed under the paye system then you may be self employed....

Social Security and Our Current Tax System by Tony Robinson

Every week that you work, there are taxes deducted from your gross payroll that are distributed to the Social Security Administration, along with other programs administered by the government. Of all the...


Who are the CPA Moms?      Your Tax Professional Forever!!!!

“CPA Moms - Tax Moms - EA Moms" are trade names given to Accounting and Tax Professionals who chose to work in an “relaxed” environment. Some "Moms" work from home, other work from personal offices. Not all are Moms, there are some Dads. We call them Mr. Tax Moms. CPA Dads or Enrolled Agents Dads.
Each Mom is independent. Once a client starts working with a Mom, the client will keep the same “Mom” year after year regardless of where the client moves or relocates. Being in a “relaxed” environment has many advantages. Lower overhead, faster response time, more availability, etc.
To be a member a CPA Mom, Tax Moms, or an Erolled Moms the Tax Professional must ALWAYS be in good standing with their state licensing agency, experienced, and must demonstrate a high level of ethics, professionalism and proficiency.
Tax Net Inc, the parent company for all CPA Moms, Tax Moms and Enrolled Moms, developed the marketing and on-line systems to help qualified Tax Professionals who "choose" work from their “relaxed” environment and offer better service at a lower price to the consumer.
Since the “Moms” do taxes and accounting of all complexities, there is always a Mom available for every level of work. Since each Mom has a private 800 number, you are just a phone call away, regardless of where you live.
For reliability and dependability of Tax Net, Inc, the parent company of the “Moms” organization click on the Better Business Bureau (BBB) icon.

To Join CPA Moms

Click for accredited member's reliablility report.

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Index of Articles about Taxes

What Other Authors say about Taxes

Income Tax Software - The Best Ones On The Market by Mike Singh

There are several income tax software programs available on the market to help you complete your yearly taxes. These programs offer tax tips, checklists, and error checking messages to ensure that required...

Finding Free Printable Tax Forms by Carl LaFresnaye

If an individual decides to do his own taxes, there are many different avenues where he can find free printable tax forms for his use. There are websites that provide these forms to individuals at no...

Are Foreclosure Taxable by

The Internal Revenue Service unveiled a special new section for people who have lost their homes due to foreclosure. The IRS also reassured homeowners that, although mortgage workouts and foreclosures...

How To Turn Business Losses Into Cash Flow by Chris Raynal

By Christopher Raynalwww.masteraccountants.co.nzYou have permission to publish this article electronically or in print, free of charge, as long as the bylines are included. A courtesy copy of your publication...

Should You Form a Nevada LLC? by Simon Maher

The short answer is yes...if your business is located in Nevada. Otherwise, your best bet is to form your business entity in the state where your business operates.There many myths about forming Nevada...

Options For Filing And Reporting Small Business Taxes by Gary Ruplinger

Large and small businesses all around the United States are required to file and pay taxes. Small business taxes are applied and determined differently than those of larger corporations. To accurately...

IRS Reports Tax Gap of $300 Billion by Richard A. Chapo

The Internal Revenue Service is reporting that the difference between what U.S. taxpayers owe and actually pay on time totals more than $300 billion a year. Studying over 46,000 tax returns for individuals...

Use Tax Credits To Help Finance Your College Education by P. Nash

Students are always on the lookout for ways to help pay or offset the cost of their tuition. There are various government grants and scholarships available to you if you qualify. But what if you don't...

Where To Find Tax Help by Carl LaFresnaye

Once upon a time, doing your taxes was a job for professionals only, like brain surgery or nuclear science. Nowadays software is available that allows you to file your taxes yourself, giving all sorts...

Self Employment Registration And The Self Assessment Tax Return Form by Terry Cartwright

There is no strict definition of self employment as opposed to not being self employed however the basic rule is if you have income other than is taxed under the paye system then you may be self employed....

Social Security and Our Current Tax System by Tony Robinson

Every week that you work, there are taxes deducted from your gross payroll that are distributed to the Social Security Administration, along with other programs administered by the government. Of all the...