Here are some common questions you may have about TaxZerone
You can correct the errors and retransmit it to the IRS with TaxZerone for free. You won't be charged any additional amount.
Your extension forms will be processed based on the volume of returns the IRS receives. It will take up to 2 to 3 business days for the IRS to process your returns. We'll notify you as soon as the IRS processes your return.
Currently, TaxZerone supports the e-filing of Form 7004 and 4868 to get an extension for filing business and individual income tax.
Yes. All the information you have entered will be saved, and you can continue from where you left off at your preferred time.
TaxZerone will automatically populate your name control based on your business name and your business structure. If you already have this information with you, you can enter it in the field.
It is important that the combination of name control and taxpayer identification number (TIN) provided on the return match the IRS's record of name controls and TINs.
Yes. You can change the payment request date up to 5 days from the date of filing extension. If the requested date falls on a weekend or holiday, the amount will be debited on the next business day.
We support payments using both credit and debit cards, which include all popular card types such as Mastercard, American Express, and Visa.
Yes. An exempt organization that files Form 990 after the deadline and doesn't provide any reasonable cause for late filing will be imposed a penalty by the IRS.
A penalty of $20 a day, not to exceed the lesser of $11,000 or 5% of the gross receipts of the organization for the year, can be charged when a return is filed late unless the organization provides an attachment with an explanation that the late filing was due to reasonable cause.
Organizations with annual gross receipts exceeding $1,129,000 are subject to a penalty of $110 for each day failure continues (with a maximum penalty for any one return of $56,000). The penalty applies on each day after the due date that the return isn't filed.
Yes, Form 990 is a public document that is subject to public inspection and disclosure. Anyone can request a copy from the IRS or access it through various online databases, such as Guidestar or the organization's website.
Additionally, the IRS makes these forms available to the public on its website.
To amend your organization's previously filed 990 return, file a new return providing all the information and not just the new or corrected information. Also, check the “Amended return” box in Item B indicating you're filing an amended return.
You can amend all the information in your original Form 990 return except the organization's EIN.
You will need to file Form 7004 before the due date of the applicable tax form for your business. For example, the deadline to file Form 1120-S is March 15, and you can e-file Form 7004 before March 15 using TaxZerone to get an extension for filing.
The IRS Form 7004 is an extension form filed by businesses to get an automatic extension of up to 6 months to file certain business income tax. The IRS doesn't require any signature or a reason while filing an extension.
Most business entities can file Form 7004, except for sole proprietors. Below businesses can use Form 7004 to get an extension to file business income tax:
Yes, you can choose the EFW option while filing an extension. The IRS will automatically debit the balance due from your bank account.
A perfection period is a timeline provided by the IRS to correct errors when your return is rejected for some reasons. Form 7004 has a perfection period of 5 days from the date of rejection. You will need to correct the errors in your return within this period to avoid incurring penalties.
The IRS doesn't support e-filing for the forms mentioned above. So, you are required to paper file these forms.
For the 2022 tax year, you will need to e-file Form 4868 by April 18, 2023. Make sure to file the extension form using TaxZerone within the due date to avoid penalties.
Filing Form 4868 will extend the filing deadline to October 16, 2023.
If you cannot file your income tax return by the due date, you should file Form 4868 with the IRS. The extension form must be filed by the regular due date of the return.
When you file extension form 4868 with us, we will review your form for basic errors, before transmitting it to the IRS to ensure the return is error-free!
In addition, you will also get instant updates on your filing status.
No. Filing form 4868 only extends the time to file your income tax return and doesn't extend the time to pay your taxes.
If you don't pay the tax amount due by the regular due date, you'll owe interest and may even be subjected to penalties.
A U.S. citizen or a resident of the United States who couldn't file their income tax return by the due date can apply for an extension using form 4868 to file Form 1040, 1040-SR, 1040-NR, 1040-PR, or 1040-SS.
No. The IRS doesn't require any explanation while you file for a 4868 extension, as long as you file and submit your tax return on time.
When you file form 4868 with TaxZerone, you will be instantly updated about the filing status; whether your form got accepted or rejected by the IRS.
In case of rejection, you can correct the errors and retransmit it to the IRS with ZERO additional costs.
While you file the extension form 4868 to the IRS, make sure to provide the following information in the return
Once you have done the things mentioned above, you will be qualified for filing 4868 and will receive an automatic extension of 6 months to file your income tax return.
If the IRS rejects your transmitted return, you can correct and retransmit it free of cost through TaxZerone.
Filling out form 4868 is very simple and you will automatically get the extension if you properly file the form and transmit it to the IRS.
Form 4868 consists of II parts to complete
Form 4868 doesn't require a date or signature in it, and you don't have to give a reason for requesting an extension of time.
Óut-of-the-country taxpayers are U.S. citizens and residents living outside of the United States. If you are such one, you must check the box in line 8, Part II of your Form 4868. You will be provided an automatic 2-month extension of time to file your tax return and pay any tax amount that is due.
Form 8868, Application for Automatic Extension of Time To File an Exempt Organization Return, is filed by tax-exempt organizations, including charities, nonprofits, and certain other exempt entities that need extra time to complete and submit their annual tax returns. By filing Form 8868, organizations will get an extension of up to 6 months to file their annual return.
For organizations that follow a fiscal tax year, Form 8868 must be filed by the 15th day of the 5th month after your tax year ends. However, if the due date falls on weekends or federal holidays, then the filing deadline will be the next business day.
Yes, you can file Form 8868 electronically using IRS-authorized e-file providers such as TaxZerone.
If you miss the deadline to file Form 8868, you risk losing the automatic extension. It's crucial to file the form on time to avoid late filing penalties.
When you file Form 8868 with TaxZerone, you will be notified about the filing status, and whether the IRS has accepted or rejected your return.
If your return is rejected by the IRS, you can correct the errors and retransmit it to the IRS for FREE.