Extended Deadline Available For Electronic Late Tax Filers

by Leroy Baker, Tax-News.com, New York

04 July 2003

Some 8.5 million US tax payers have applied for electronic filing extensions and are due to file their tax returns on August 15 this year after being granted an extension from the traditional April 15 deadline. However, the IRS has this week announced that those who have already requested the extension to August 15 can request an extra two months to file as the agency has set a final October 15 deadline for electronically filed returns.

“IRS e-file is the quick, smart, fast way to get taxes done,” said IRS Commissioner Mark Everson in a recent statement. “Taxpayers receiving refunds can receive them more quickly through IRS e-file especially when they choose the direct deposit option.”

Taxpayers currently have three options when it comes to e-filing. They can use tax preparation software present on their home PC systems or use the services of a tax professional to prepare the return, then transmit the data electronically. There is also the free-file option available through selected tax software firms, funded via a public/private partnership which aims to encourage more people to file using the electronic method. However, there are certain eligibility restrictions based on income, age and state of residency.

Correction: Tax-news.com regrets that an earlier version of this story published on 2nd July suggested that the filing extension to October 15 was automatically available to electronic filers.

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