10 Top Reasons To E-file Your Tax Extension

By Author: Jeff Parrack
Total Articles: 4762
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No one particularly enjoys or looks forward to filing their taxes, but there are a few tools available that can make the process a little less painful. As one of the many tasks the Internet has made easier, e-filing your tax extension can allow you to breathe a little easier when April 15th simply rolls around too soon. Never e-filed an extension before? Here are ten great reasons you should e-file your tax extension this year.

1. You'll Have Additional Time to File Your Form 1040
Sometimes we just get too busy to find the time to gather receipts, W-2s, employer information and other paperwork necessary to file our taxes. Of course, other reasons for needing additional time to file may include personal emergencies or not receiving the appropriate documents from your employer in a timely manner.

2. File as Late as October 15
If you need extra time to file, you may qualify to wait for an additional six months if need be. This is typically far more than enough time to gather and receive the appropriate documents, as well as find the time to sit down and e-file your 1040 Form.

3. It Only Takes ...
... a Few Minutes to Complete the Extension
Everyone operates on a very busy schedule these days, and any process that is made easier and more efficient becomes a little less strenuous. Not only is the tax extension form online, it is short and easy. Just a few minutes and your basic personal information is all you'll need to e-file your tax extension, getting it out of the way and easing your mind.

4. Avoid Late Filing Penalties
If you file your taxes late the IRS may come after you with penalties for filing late. E-filing a tax extension will allow you to take your time and avoid any additional costs associated with late Form 1040s.

5. File from the Comfort of Your Own Home
Perhaps the biggest advantage to electronically filing your tax extension is that you never need to leave the comfort of your own home (or office). You can E-file the necessary paperwork at your convenience at any time of day or night, and save your precious gas dollars and time that would be spent traveling to your accountant, tax preparer, or post office.

6. Have an Electronic Copy of Your Filing
In a world of electronic information, many taxpayers are more comfortable not having hard copies of their tax forms complete with social security numbers, addresses and other personal information in storage. E-filing allows you to store a copy of your tax extension forms electronically on your computer or on a disk that transports easily, and it won't get lost in the shuffle of your filing cabinet.

7. Avoid Growing Interest Charges
In addition to late fees, the IRS will continue to accrue interest on any amount of money due to them. This means that if you simply file late without filing an extension, you could face charges that increase your tax bill by as much as 50%, leading to hundreds if not thousands of additional dollars you'll end up owing.

8. Buy Extra Time to Correct or Re-Check Taxes
Form 1040 filers know there are plenty of tax codes and loopholes to jump through when filling out their tax forms. Many times, you may simply want some extra time to go through your paperwork and recheck your information to ensure it is correct. It's always better to double-check your work (and maybe avoid an audit) but there is no reason it should cost you in late charges.

9. Allow for Extra Time to Come Up with Money Owed to the IRS
Many small business owners and self-employed individuals can end up owing several thousand dollars that may not be so easy to come by in a timely manner. Even if you are an individual employee of a firm you might be in a situation where you owe more than you have on hand. E-filing your tax extension will allow you to explore other options or simply gather the funds you owe over the next several months.

10. Quick Verification and Acceptance
When a tax extension is filed via the Internet, you won't need to wait on slow mail service to verify it has been accepted and approved. In a matter of minutes to a few hours, you'll have verification on hand that your tax extension has been received and accepted by the IRS.

E-filing is a great convenience when it comes to dealing with the IRS in a timely manner. Whether you need more time to gather or verify your information, save money to pay your tax bill, or simply need a more convenient filing option, E-Filing a tax extension will give you plenty of time to finish the job right without incurring addition fees and penalties from the IRS.
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1040-Tax Extension will file your online tax extension with the IRS and guarantee that the IRS will accept your application. Visit online for automatic extension on your individual tax return.