Sunday, 13 April 2014

Access Form 4868 To Recess The IRS Normal Due Date For Filing Individual Federal Income Tax Returns

The normal due date for filing federal income tax returns is mandatorily set as April 15th 2014. If this is not favorable due to tax documentation and receipts are not in order for an individual, then one can file IRS form 4868 to recess the normal due date by extending with this extension form 4868 for 6 months more from April 15th 2014. The requirements are always simple before filing form 4868 - 

A) An individual has to provide SSN with personal details of address and name with taxpayer id number of spouse.

B) A copy of individual tax returns of 2012

C) Tax payments made in 2012

Source: Flickr
FILING STATUS
AMOUNT
INDIVIDUAL-SINGLE
                    $10,000
65 0R OLDER
                    $11,500
HEAD OR HOUSEHOLD
                    $12,850
65 OR OLDER
                    $14,350
QUALIFYING WIDOW OR WIDOWER
                    $16,100
65 OR OLDER
                    $17,300
MARRIED FILING JOINTLY
                    $20,000
NOT LIVING WITH WIFE AT THE END OF YEAR
                    $3,900
ONE SPOUSE 65 OR OLDER
                    $21,200
BOTH SPOUSES 65 OR OLDER
                    $22,400
MARRIED FILING SEPARATELY
                    $3,900

If an individual situation of income and expenditure towards tax paying is not much changed in years then one can use 2012 tax return to estimate the tax liability to use form 4868 for automatic extension of time for 6 months from April 15th 2014. An individual can find total tax liability as per 2012 year on line 60 of form 1040 and line 37 for 1040-a and line 11 for 1040-ez and an individual can subtract for any tax payments made throughout the year and can report any balance of tax due payment on line 6 of form 4868 for filing an extension of time.

Here-in IRS mentioned in their instructions for different individuals with the structured minimum earnings within USA or abroad and who are supposedly should come under IRS regulations for paying federal income tax- they are as follows (as sourced from IRS) -

The gross amount mentioned by IRS as represented in chart is inclusive of money, goods, property, gifts and services that is not exempt from taxes. The above mentioned filing status people can file IRS form 4868 for an automatic extension of time for 6 months if they could not do so within the normal given due date as April 15th 2014.

In this matter of filing IRS form 4868, it is better for the mentioned status of people to pay at least 90% of tax dues during the course or along with form 4868 to overcome the penalty from IRS. Now one can access e-file form 4868 conveniently through with home-computers resting from their comfort of home by safely securely and with the able tax guidance of IRS certified service provider http://www.Etax4868.com   

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