SFS Tax & Accounting Services

Helping you stay one step ahead of the IRS

Procrastinators you still have time to file your taxes!

April 18, 2011 is the Deadline for Filing Your Tax Return.
The IRS offers you three different options should you choose to file your tax return without the help an Enrolled Agent. If you are choosing to self prepare your return, remember to consider the many changes that went into effect as a result of the new tax acts.

There are three choices for filing Form 4868, Application for Automatic Extension of Time to File U.S. Individual Tax Return:
1) Electronically (such as by computer).
2) Paying the tax with a credit card through an outside service provider listed on the form.
3) By mail.

If you file your Form 4868 electronically you will receive an acknowledgement or confirmation number for your records and you do not need to mail in Form 4868. If you need to pay any additional taxes when filing Form 4868 electronically, you may do so through the outside service provider or through e-file. Besides filing electronically, you can generally get an extension of time to file if you pay part or your entire estimate of income tax due by credit card. You may pay by phone or Internet through one of the service providers listed on Form 4868. Each service provider will charge a convenience fee based on the amount of the tax payment. At the end of the transaction, you will receive a confirmation number for your records. In addition to filing Form 4868 electronically, or by paying part of your tax by credit card, you can file Form 4868 by filling out the form and mailing it to the proper address provided on the Form 4868.

Please be aware that an extension of time to file is NOT an extension of time to pay. If you believe that you will owe money, you should pay what you feel you will owe with the extension. If you owe monies with the return, you could be subject to interest and late paying penalties. The IRS can also invalidate the extension and subject you to late paying penalties, as well.

SFS Tax, Accounting & College Planning Services is available to help procrastinators and late filers complete their tax return by the due date or file an extension of time. Jeffrey Schneider, Enrolled Agent also specializes in penalty and interest abatement, offer in compromise and levies and garnishments. Contact us now at 561 868-1868 in Royal Palm Beach or 772 337-1040 in Port St Lucie.

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