Autumn is upon us! Slowly, but surely the weather is changing, the leaves are falling, and major holidays are just around the corner. Just in case you didn’t know…
- 56 Days until Thanksgiving
- 85 Days until Christmas
For some, we just hate how time creeps past us, and then, out of nowhere, there’s an event we must prepare for. While for others, they can be completely ready, but then something unexpectedly happens that throws everything off schedule. This also seems to happen during another joyous, or not-so-joyous, time of year – tax season.
If you find yourself not able to file your 1099s or W-2s on time, for whatever reason, you can file an extension for information returns with the IRS Form 8809. You can submit your Form 8809 either on paper or your can e-file it online. The tax extension only grants you an automatic, 30-day extension, and it must be filed by the original due date of your tax information returns.
There are a number of tax information returns that an Extension Form 8809 can be filed for. A list of those forms, and their original due dates, can be found HERE.
You can also file a second extension for a non-automatic, additional 30-days; however, a second extension can only be paper filed. And you must provide a written explanation why you need the additional time.
Important: Both extensions will only extend the deadlines for filing the returns. Neither will extend deadlines for providing statements to recipients.
If you don’t get approved for an extension, and you file your information returns late, you may be liable for late filing penalties. The penalty amount is based on when you actually file the correct information return, but they’re also broken down as such:
- $30 per information return if you correctly file within 30 days (by March 30 if the due date is February 28); maximum penalty $250,000 per year ($75,000 for small businesses)
- $60 per information return if you correctly file more than 30 days after the due date but by August 1; maximum penalty $500,00 per year ($200,000 for small businesses)
- $100 per information return if you file after August 1 or you do not file required information returns; maximum penalty $1,500,000 per year ($500,000 for small businesses)
Avoid any late filing penalties by e-filing your Extension Form 8809 with ExpressTaxFilings. As an IRS authorized, e-file provider, we have worked closely with the IRS to provide you with the utmost in security, safety, and accuracy when e-filing your tax information forms or extensions.
For any questions or assistance e-filing with ExpressTaxFilings, contact our support team of live professionals at our office located in Rock Hill, South Carolina. You can call (704) 839-2270 Monday through Friday from 9 a.m. to 6 p.m. EST, email at email@example.com, or live chat with us at www.expresstaxfilings.com.