Electronic filing has made the submission of tax returns to the IRS very secure and accurate. And in case you’re wondering, how do I e-file my forms? Wonder no more. The IRS has four options to do that and you can choose one most suitable for you.
1.IRS Free-File Fill-able Forms
The Free File option
basically caters to individuals who earn an adjusted gross annual income of $66,000 and below. The software used is called the tax-preparation-and-filing software, and it’s free. This option also offers free state return options.
The Fill-able Forms option is for those individuals whose annual adjusted gross income is higher than $66,000. To ably use this option, you must have a clear understanding on how to compute your own taxes. The software helps you with the math but its basic math. You also need to have your 2017 returns on hand to complete the process. This option does not have free state return option.
For 2017, the tax filing deadlines for 2016 tax returns has been extended to Tuesday, April 18, 2017. If needed, you can ask for a six-month extension but this only defers the filing date because all estimated owed taxes have to be paid by the April 18 deadline to avoid penalties.
You can request an extension easily by filing Form 4868 via your chosen tax software, IRS e-file or through the mail. You can submit payment via debit or credit card, the Electronic Federal Tax Payment System, Direct Pay or at any 7-Eleven which participates in the PayNearMe program (daily payments cannot exceed $1,000). With an extension, your return has to be on its way to the IRS by October 16, 2017. If you pay income tax in the state that you reside in, the federal extension simultaneously gives you an extension for the state return.