IRS 8868 Support Form To Support Cause Of Non-Profits And Tax –Exempt Organizations

Form 8868 is structured by IRS in a way of extension support given for 6 months to nonprofits and tax-exempt organizations in two different ways with an interval with part-1 of the IRS form 8868 supports for automatic extension for 3 months and the part-2 of the IRS form 8868 extends another 3 months conditional not automatic. There is an interval between part-1 and part-2.

Only when the part-1 as applicable with the automatic extension of time for 3 months is not enough for non-profits and tax-exempt can request through a fresh form of 8868 for part-2 as conditional extension of 3 months which is not automatic. The corporations involved in charities who required filing 990-T and coming under form 8868 as per IRS gets automatic extension of time for 6 months. Each form that represent under this 8868 should file request for extension time separately with each IRS form 8868 and no blanket requests are allowed by IRS.

Src: stockmonkeys.com

The forms that come under 8868 are assigned with a separate return code which needs to be filled-in the field given corresponding to return code applying for extension time for both part-1 as automatic and part-2 as not automatic. The forms as covered under 8868 are 990-BL, 990-or 990-EZ, 990-PF, 4720, 990-T, 1041-A, 5227, 6069, and 8870.These forms will be explained in brief and in context with form 8868 in our blogs for 8868.

In the same way the individuals representing exempt-organization filing this IRS form 8868 need to fill in their Social Security Number-the SSN in the given field as identifying number and others should fill-in their Federal Employer Identification Number and both fields should not be filled-in to-gether in a form 8868.

IRS form 8868 electronic filing as available for Non-profits and Tax-exempt organizations effective January 2011 excepting form 8870 can be filed electronically requesting for the time of extension for both part-1 as 3 months automatic extension and for part-2 as additional time of extension for 3 months which is not automatic through the IRS certified partner ETAX8868.com for fast and reliable response.

Please do not request Part-2 of 8868 for additional extension time unless non-profits and exempt-organizations have been already granted with part-1 automatic extension of time for 3 months. Use separate fresh form of IRS 8868 for those who wish to take-up additional extension time when part-1 automatic extension time of 3 months is not enough.

Corporations who are required to file 990-T only can get an automatic extension of 6 months through this form 8868 can now e-file with IRS certified service provider http://www.ETAX8868.com 

Read More

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 15^th 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   

Read More

IRS Form 7004 Busincess Tax Extension Form - Privilege Or Purpose?

It is indeed a strange coincidence that all IRS forms need to be filed on or before due dates, but then why the existence of the support and importance of forms like IRS form 7004 give-in the privilege for the automatic extension of time? In business, in times when it is good we follow the strictures and rules and when in unfavorable conditions we deviate the rules. 

These shows the ups and downs of business which then fails to submit to the rules and it is for this reason IRS laws are structured to give an extended arm of support with the form 7004 for those failing. However one should understand that this is no privilege but with a purpose. The privilege is the automatic extension of time through IRS form 7004 to file income tax returns of business and the purpose is to make them pay the tax by form 7004 online facilitating them with automatic extension of time with some interest and penalty. 

This would exhibit as just like a loan that an individual and business may avail at a certain cost of interest from Government as they do with banks or outside source, but there they have to pledge something as security. Here we as individual and businesses of many categories stand as a security and pledge for the nation’s good cause.

CC Licensed - Flickr

This is to be understood in contrast since taxpaying based on income brings in integrity to self and this would give scope for recognition and opening up of new avenues to bring in financial strength that banks and other people can participate as shareholders to further develop a conducive atmosphere towards a good economy that IRS propagate by the importance of tax paying and also gives give some extended time for tax collections with some reasonable interest and penalty so that nation may prosper through economic and infrastructure developments which would only benefit the citizens. 

Not every individual who earn big money can take-away all to his needs for comfort living, this is where the Govt.through IRS has spread the wings to bring in lot of tax money that would feed society, community, and a country which goes to prove that sharing resources would make a country good and big for the welfare development of their population.

Live with good money and share your money through taxes and avail IRS form 7004 online when in need by e-filing through IRS service partner http://www.Etax7004.com

Read More

Common Questions Regarding E-Postcard Form 990N

Are you the head of a non-profit looking for some answers about e postcard form990-n? If so, you have come to the right place. This document, simple and easy as it might be, is very important when it comes to maintaining your organization's 501(c)(3) status. Here is a list of commonly asked questions about the form itself as well as how to file it.

What information is required to complete form 990-N?

Anyone completing form 990-N needs to collect a few simple pieces of information. These include your organization's tax ID number, a physical address and name for your organization, the name and address of a principal officer, confirmation that your organization's gross receipts totaled under $50,000 for the fiscal year, a website address if you have one, any other names your organization goes by, as well as a written statement saying that you are going out of business (if applicable).

Creative Commons-licensed - Flickr

When is form 990-N due?

The 990n postcard filing must be completed no later than the 15^th day of the fifth month following the end of your organization's fiscal year. Because these dates vary from company to company, there is no one single set date.

What happens if I don't file?

If you miss your due date once, it usually is not a big problem. The IRS will send you a reminder, and you can file your e postcard form 990-n at that point. However, if you have failed to file your form for three consecutive years, your organization's tax-exempt status will automatically be revoked, and you will have to reapply for this status.

How will I know if my form was accepted?

The IRS will send you a confirmation E-mail stating that your 990n post card filing went through successfully.

Can I paper file instead of doing it electronically?

Unfortunately, there is no paper form of the e postcard form 990-n, so you must complete your filing online. The easiest way to do this is by using an online service such as etax990n.com, which not only allows you to file your form but also provides 24/7 customer support and free re-filings if the initial form is rejected.

Can I file for previous fiscal years?

Yes. Systems such as etax990n.com will allow you to file forms for up to 2 tax years prior, helping you get caught up on your filings.

How long will it take for my form to show up at the IRS search site?

After you complete your 990n postcard filing, it may take up to three weeks for it to show up on the IRS search page.

What is the point of form 990-n?

The reason for filing form 990-n is to give your donors and other interested parties a way to see the most up to date information available regarding your organization's earnings. It provides a form of transparency.

How long does it take to file form 990-n?

Not to worry – from start to finish, it will only take about 15 minutes of your time, as long as you have all of the information assembled before you begin. If you run into any problems, simply contact customer support at any time for guidance or assistance. Visit http://www.Etax990n.com to start filing your non profit tax.

Read More

Benefits of Online Filing for Tax 2290

With many websites online offering aid, it has never been easier to file the tax form 2290 to the IRS. This tax form is for heavy highway vehicle use. It is a tax return form in which the due date revolves around the fiscal year starting on July 1st and ending on June 30th. There are of course some exceptions to this, depending on many factors. Those that must pay the tax and turn in the form are owners of these heavy vehicles that are over 55,000 pounds. They are used on the public highway regularly to transport anything, and the amount that is taxed varies among the different weights and maximum loads on different trucks.

Creative Commons-licensed - Flickr

Times to File the Form

The qualified vehicles that are taxed include trucks, tractor trailers, buses, or truck tractors. Should any of these heavy vehicles exceed the 5,000 mileage usage limit on solely public highways, then the IRS form 2290 tax is due before the end of the fiscal year. It does not matter if there is a new owner of the vehicle; any particular vehicle has its own timing on the mileage whether or not it has multiple owners. The right time to file the 2290 tax online or on paper is for the month that the vehicle is first being used on public highways. The last day to file is the last day of that month. There are penalties and interest should the form not be filed on time that vary depending on how late the form is received.

Online Filing and Physical Filing

It is important to avoid penalty fees and any interest, especially when it comes to tax forms. They can appear to be daunting, but rest assured that there are tax professionals online providing software to make it easier for everyone. Filing the IRS form 2290 can be done physically through printing the form and mailing it in, or by filing it electronically through the IRS.gov website. By filing it online, you can get help from sites like ETAX2290. It is generally a safer, quicker, and less painful process. They can help you get through the form accurately and in on time. By submitting it online, they are also able to keep your records through your ETAX2290 account for as long as you need. Mailing the form is less secure and you are most likely going to be unable to keep an organized record of your files. Whether you have multiple taxable heavy vehicles or just one, through online filing you can put it all under one account.

When searching for aid in filing the 2290 tax online, the prices will vary depending on the amount of vehicles you own. Should you own over 25 taxable vehicles, you must file online regardless. For an example of prices, one vehicle would cost $19.99 through ETAX2290. Their prices are very reasonable and can aid you in preventing from incorrectly filing the IRS form 2290 and getting any penalties.

Read More