E-Filing Sets Record, IRS Urges Taxpayers to E-File for Extensions | AccountingWEB

E-Filing Sets Record, IRS Urges Taxpayers to E-File for Extensions

As of Thursday, April 13, a record 17,629,832 returns have been e-filed, according to the Internal Revenue Service (IRS). That’s a 15 percent increase over the previous years, with two business days yet to go.

“We are seeing the greatest growth for e-file among those filing from a home computer,” said IRS Commissioner Mark W. Everson in a prepared statement. “We have already surpassed last year’s total, and people can e-file, with an extension, until Oct. 16.”

Speaking of extensions, taxpayers needing extra time can electronically request an automatic six-month tax-filing extension. E-filing an extension is convenient, safe and secure, and taxpayers receive a confirmation to keep with their records. Taxpayers can e-file the extension from a home computer or through a tax professional using e-file. Taxpayers can also e-file their extensions, at no cost, through the Free File Alliance. A list of companies participating in the Free File Alliance can be found at IRS.gov.

“If you haven’t finished your return, don’t panic,” Everson said. “Just file an extension, either by e-file or by mail.”

An extension of time to file does NOT give the taxpayer an extension of time to pay. Taxpayers owing taxes can make a payment when they file the extension either by mailing a check or by several electronic payment methods such as electronic funds withdrawals from bank accounts and credit card payments.

Taxpayers still have time to electronically file their returns. Because the IRS confirms receipt of an electronically-filed return, e-filing can take the worry out of meeting today’s tax filing deadline. E-filers also get their refunds in half the time, and people who owe money can choose to pay what they owe, electronically.

The April 15 deadline for filing tax returns, extensions and quarterly estimated tax payments was extended to April 17 because April 15 fell on a Saturday. Taxpayers in six eastern states and the District of Columbia, however, will have until April 18 to file returns and pay taxes because April 17 is Patriot’s Day in Massachusetts. The April 18 deadline applies to taxpayers in Maine, Maryland, Massachusetts, New Hampshire, New York, Vermont and the District of Columbia.

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