File before the federal tax extension deadline to avoid penalties and e-file your 2011 return
If you requested a tax extension in April, the last chance to get your 2011 return in to the IRS is October 15, 2012.
It’s also the last chance to e-file your return. After the 15th, the IRS e-file system shuts down to prepare for the 2012 returns that will start arriving in January. Everyone who hasn’t filed by the deadline will have to paper file and mail their return in, regardless of whether they requested an extension.
File before the October 15 deadline to take full advantage of e-filing, which gets your return to the IRS faster, speeds up processing, and gets your refund into your hands within 10-21 days, as opposed to the many weeks that paper filing often takes.
Those who requested an extension have thus far been enjoying an extra six months to file without any penalties or interest. On October 16 both of them kick in and start to accumulate. If you let them get out of control they can end up being quite costly.
Even if you didn’t request an extension, now is the best time to file. Not only will you minimize penalties and interest by filing as soon as possible, but you will also be able to avoid the hassle of paper filing your return.
As is always the case, it makes more sense to file your return, even if you can’t pay, than it does to avoid filing and attempt to hide from the IRS. That’s because the failure-to-file is much larger than the failure-to-pay penalty. If you truly can’t afford to pay, the IRS will find a way to work with you to create a payment plan that meets your needs.
Take advantage of RapidTax’s free e-filing now before the tax extension deadline passes and e-file expires.
Real live tax professionals are there to assist you via phone, live chat, or email. They can answer any questions that come up while completing your return and offer you the best tax advice for your situation.
In addition to free live support, RapidTax features a powerful algorithm guaranteed to get you the largest refund possible. And did you know that if you are due a refund, you don’t have to pay any penalties or interest? That’s right – no penalties or interest. In fact, late filers are actually more likely to get a refund than normal filers.
There’s really no reason not to file. Take advantage of free tax filing on RapidTax now, before it expires after the deadline.
Tags: tax filing deadlineThis entry was posted on Tuesday, September 18th, 2012 at 12:06 pm and is filed under Tax Deadlines, Tax News.
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