The Internal Revenue Service is reminding taxpayers whose tax-filing extensions run out on October 17, 2011 to double-check their returns for expanded individual and business tax benefits.  In addition, they can file their returns electronically using IRS e-file or the Free File system.

There were 10.1 million taxpayers who requested an automatic six-month extension this year, and even at this late date, many have yet to file. IRS e-file is fast and secure and is a good option for those rushing to meet the Oct. 17 deadline that is looming for people who requested extensions, or the special Oct. 31 deadline that applies to many taxpayers affected by recent natural disasters.

Most taxpayers qualify for e-file whether or not they prepare their returns themselves or use a paid preparer.  Also, those taxpayers with incomes at or below $58,000 can file their returns for free using the Free File link on IRS.gov.

Taxpayers who file electronically can also e-pay by authorizing an electronic funds withdrawal or making a credit card payment. The IRS does not charge a fee for processing an electronic funds withdrawal. However, credit-card payments are subject to convenience fees charged by the authorized service providers.

Paper and electronic filers who cannot pay what they owe may be able to set up a payment agreement with the IRS in a few minutes. Search for the Online Payment Agreement section on IRS.gov for more information.

Daniel Stoica Accounting Professional