New Tax Day Deadline Released After IRS System Crash

Well, well, well. It looks like Christmas came even earlier this year. The IRS announced yesterday evening that they are providing taxpayers an additional day to file and pay their taxes following issues with their payment system that surfaced on the original April 17 tax deadline.

Individuals and businesses with a filing or payment deadline originally due on Tuesday, April 17th, 2018 now have until midnight Wednesday.

The IRS Delays Tax Deadline Following Technology Collapse 

All taxpayers now have until Wednesday, April 18th, 2018 as the official last day to file taxes without penalty. This is following the agency’s system crash for electronically filing returns during the originally scheduled Tax Day deadline. 

While the IRS’s electronic filing system came back online Tuesday evening, the direct tax payment system used by IRS-authorized third-party providers is still not going through. However, this will be resolved by today, April 18th and extended tax services have been offered. 

“This is the busiest tax day of the year, and the IRS apologizes for the inconvenience this system issue caused for taxpayers,” said Acting IRS Commissioner David Kautter. “The IRS appreciates everyone’s patience during this period. The extra time will help taxpayers affected by this situation.”

The IRS is also advising taxpayers to file income tax extension Form 4868 for personal income tax returns or Form 8868 for organizations if they need more time to file. This form will give filers an additional six months.

You can file tax extension Form 8868 quickly and easily with ExpressTaxExempt. Our step-by-step filing process is equipped with built-in audits to ensure error-free filing. When you file your tax extension online, you will receive a confirmation email notifying you that your IRS extension was accepted.

File For Tax Extension 2018

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Upcoming Filing Deadline for Exempt Organization Employers

Has your organization employed individuals to help carry out the mission of the group?

Do you or someone you know own and operate a business with employees?

If so, as an employer, it is required that you file Form 941 with the IRS quarterly.

Employers are responsible for withholding federal income tax, social security tax, and Medicare tax from each of their employee’s salary. Form 941, also known as the Employer’s Quarterly Tax Return, is used to report these employment taxes quarterly and assists with calculating the employer’s portion of Social Security and Medicare tax.

Quarterly Filing Deadlines:

Form 941 has a total of four filing deadlines each year. These deadlines are split into first, second, third, and fourth quarters with the following due dates:

With only two days left in the month of September, the Third Quarter deadline is right around the corner. Be sure to file your Form 941 no later than October 31 with TaxBandits.

Filing Process:

Most people think that filing taxes can be a headache and an extremely time consuming process...not with our sister product, TaxBandits! You will only need two major pieces of information to get started--Employer and Employment Details.

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Employer details include the employer’s name, EIN, and address; while employment details include the following:

• Employee Count
• Medicare Tax & Social Security
• Deposit Made to the IRS
• Tax Liability (Monthly/Semiweekly)
• Signing Authority Information
• Online Signature PIN or Form 8453-EMP

Once that is entered all you will need to do is review the completed form, pay a small, affordable price per form, and transmit directly to the IRS. And just like that, you’ve avoided IRS penalties and compliance issues.

Well, since we said the word ‘penalties’ let’s just go ahead and discuss it briefly so you know what you’re avoiding when filing with us.

Form 941 IRS Penalties:

Failure to file by the Form 941 deadline will result in a 5% penalty on the tax return for each month that the return is late. Although this penalty cpas at 25%, the IRS will penalize you heavily for late payment or not paying the full amount owed. Your organization will be charged 2-15% of the unpaid tax determined by the number of days it remains unpaid.

NOTE: Late deposit penalty amounts are determined using calendar days, starting from the due date of the liability.

Next Steps:

Out of the many components to running your organization, one of the most important is staying in compliance with the IRS. TaxBandits, sister product to ExpressTaxExempt, is an industry leader for online tax preparation and tax filings which offers accurate and efficient e-filing at prices that can’t be beaten! Visit their website today to find out more information about Form 941 and the other services that TaxBandits offer.

As always, we at ExpressTaxExempt aim to help all exempt organizations and hope that your organization can benefit from both of our services. If you need any assistance with filing, just know that we’re available to assist you via phone at 704.839.2321 on Monday through Friday from 9 a.m. to 6 p.m. EST or reach out to us 24/7 via email at support@ExpressTaxExempt.com.

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Made a Mistake On Your Form 990? We've Got You Covered!

You completed and transmitted your tax return on time - even better, the IRS accepted your form on the first attempt with no questions asked. However, after looking through your copy, you noticed that you misspelled a donor or employee name, your mission or program service statement isn’t entirely correct, or you forgot to include a last-minute fundraising event.

No matter what the mistake is, you need to make corrections and transmit this new information to the IRS as soon as possible. With ExpressTaxExempt.com, we have you covered with our amended return support for IRS Form 990 and Form 990-EZ!

Amended Returns
Your organization can e-file an amended return to either update or add information to a previously accepted form for the same tax year. IRS Form 990/990-EZ are the only returns applicable to amendments, and the updated returns must contain all the information requested by the form and instructions - not just the corrections.

If you need a copy of your organization’s previously filed return, you can submit IRS Form 4506, Request for Copy of Tax Return - you can also visit the IRS website for information about getting blank tax forms. Your amended return is required to be available for public inspection three years after the amended filing date or the original filing deadline - whichever is longer.

E-filing Amended Returns with ExpressTaxExempt
To e-file an amended return with ExpressTaxExempt.com, you first must have e-filed your original tax return with our services. Also, the IRS needs to have accepted your original form - if you received a rejection, you can quickly make corrections and re-transmit your rejected form.

Before starting an amendment, you’re required to explain your reasons for changing your original return - this information can also include which parts and schedules of the original form that need changes along with descriptions of your changes.

You won’t need to start entirely over with an empty return. Our cloud-based technology carries over everything from your original form to your amended return - all you need is to go through your completed sections and make the necessary changes. Any new text provided or corrections made are automatically tracked and entered on Schedule O of your amendment.

Once you’ve completed your updates, you can transmit your form to the IRS. You can assure that your new return is an amendment as the “Amended Return” box is check marked in Item B of the Heading on Page 1 of your return.

If you have any questions or need assistance with the e-filing process, feel free to contact our U.S. - based customer support at 704.839.2321, Monday through Friday from 9 a.m. to 6 p.m. EST. We also offer email support with support@ExpressTaxExempt.com.

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