WHO QUALIFIES TO FILE A TAX EXTENSION Q&A
February 5, 2024
Important Note:
An extension extends the time to file BUT NOT THE DUE DATE OF YOUR TAX PAYMENT. When an extension is filed without payment you may incur interest and penalties each month until your balance is paid. For this reason, we recommend that you pay as much as possible by the Due Date.
The following information can help us estimate Taxes Due with your Extension request:
- Amounts of Estimated Tax or other Income Tax Payments made in 2023.
- Any significant changes in income this year.
- Any other items that may affect your 2023 Tax Liability.
EXTENSION FAQS:
Who qualifies to file for a tax extension?
EVERYONE that needs to file a tax return.
When do you need to file for a tax extension?
Before April 15th (the 2023 original filing deadline).
What form do you use to file for a tax extension?
IRS Form 4868 and PA form REV-276.
If you have a filing requirement in other states, other state forms may apply as well.
Does this extend the time I have to pay my taxes?
NO, taxes are due on April 15th.
What if I don’t pay the full amount due with my extension?
- IRS Penalties accrue at 0.5% of unpaid tax each month, not to exceed 25% of unpaid tax.
- Interest accrues at the current IRS rate of 7% per year.
When is the Extended Tax Return Due Date?
Six months after the original due date, typically October 15th.
Why would I want to file a tax extension?
- To provide more time to receive and assemble tax documents.
- Is more cost effective than amending a return with inaccurate information.
- To allow for sufficient analysis and tax saving advice based on current IRS interpretation and guidance, revised tax forms and software updates.
Does an extension increase my chance of being audited?
No, the IRS selects returns to audit based on unreported items and variations from the ordinary income and deduction statistics.
Effective September 30, 2025, all payments made to or from the Federal IRS must be processed electronically. The change aligns with contemporary financial standards.
SafeSend Gather and SafeSend Client Portal are components within the SafeSend One™ platform, each designed to streamline different aspects of the tax preparation and client interaction process. SafeSend Gather focuses on automating the initial phase of tax preparation by simplifying the collection of necessary documents and information from clients. Leveraging advanced artificial intelligence, it automatically generates document request lists, identifies and categorizes uploaded documents, and provides real-time visibility into document completion status. This ensures a frictionless document gathering process for both firms and clients. SafeSend Client Portal , on the other hand, is designed to enhance the overall client experience by providing a centralized dashboard for managing all tasks and documents throughout the tax lifecycle. It offers features such as a downloadable, sortable, and searchable repository of all documents exchanged between client and firm, a simple actionable to-do list, comprehensive notifications for important deadlines, a unified K-1 distribution page, and a centralized location to view and pay estimated or actual tax payment vouchers. This portal empowers clients to have greater independence and control over their tax journey. In summary, while SafeSend Gather streamlines the document collection process at the beginning of the tax preparation, SafeSend Client Portal provides an ongoing, centralized platform for clients to manage their tax-related tasks and documents throughout the entire tax lifecycle. Please reach out to our office if you have any questions about the SafeSend platform and it's features. CLICK or CALL . Source: SafeSend Learn
Managing tax documents doesn’t have to be overwhelming. With the SafeSend Client Portal , you gain a secure, convenient, and efficient way to store, access, and share your tax documents anytime, anywhere. This cutting-edge platform is designed with your ease and security in mind, ensuring that your tax preparation process is smooth and stress-free. Benefits of the SafeSend Client Portal Secure Access to Your Documents The SafeSend Client Portal employs advanced encryption and security protocols to protect your sensitive financial information. You can confidently upload, store, and retrieve your tax documents without worrying about data breaches. 24/7 Availability With the portal, your documents are available at your fingertips, whether you’re at home, at work, or on the go. No need to hunt through paperwork—everything is digitally organized in one place. Streamlined Communication The portal allows you to securely share documents with our office and receive important updates or requests. This eliminates the need for back-and-forth emails or physical mail, saving you time and hassle. Environmentally Friendly By using a digital portal, you’re reducing paper waste and contributing to a more sustainable future. User-Friendly Design SafeSend’s intuitive interface makes it easy to navigate, even if you’re not tech-savvy. Step-by-Step Guide to Setting Up Your SafeSend Client Portal Receive the Invitation You’ll receive an email with a link to set up your SafeSend Client Portal. The email will include a secure invitation link that is unique to you. Create Your Account Click the invitation link and follow the prompts to create your account. You’ll need to set up a username and password and provide some basic information to verify your identity. Be sure to hit 'Sign Up' under the login screen before trying to log into an account. Verify Your Identity For added security, the portal may send a verification code to your email or phone. Enter this code to complete the setup process. Log In Once your account is set up, log in using your new credentials. Bookmark the login page for easy access in the future. Explore the Portal Take a moment to familiarize yourself with the portal. You’ll find sections for uploading documents, viewing files, and communicating with our team. Upload Your Documents Use the upload feature to submit your tax documents. You can drag and drop files or select them manually from your device. Accepted file types include PDFs, images, and spreadsheets. Monitor Progress The portal allows you to track the status of your submissions and see any additional requests from our team. You’ll receive notifications when updates are made. Access Your Completed Tax Return Once your return is complete, you can securely download a copy directly from the portal. All files are stored for your convenience and future reference. Still struggling to set up a client portal? Here is, a direct from SafeSend, step by step guide for 1st time portal setup/access: Client Portal Experience – SafeSend Returns Start Using SafeSend Client Portal Today The SafeSend Client Portal is a powerful tool designed to make your tax preparation experience smoother and more efficient. If you have questions about setting up or using the portal, our team is here to assist you every step of the way. Contact us today to get started and take the first step toward a more organized and stress-free tax season!