Filing An Income Tax Extension 9

Need more time to file a federal tax return? Its easy with IRS Free File Internal Revenue Service

The Foreign Bank Account Report (FBAR) is due by April 15, with an automatic extension until October 15. If you have foreign accounts exceeding $10,000 at any point during the year, you’ll need to file the FBAR, which is separate from your tax return. Taxpayers can complete the extension request form through the IRS Free File website. The official document for requesting an extension is Form 4868 and it is less than half a page long.

• Just make sure you’ve done both of these things if applicable, by the regular due date, which is usually April 15.
• IRS reminds people they can avoid paying interest and some penalties by filing their tax return and, if they have a balance due, paying the total amount due by the tax deadline of April 15.
• Filing deadlines are usually April 15, unless that date falls on a weekend.
• An extension request using Form 4868 gives you until Oct. 15 to file your federal tax return.

If you don’t, you may incur a penalty and have to pay interest on your original tax bill. A tax extension is a way to obtain additional time with the Internal Revenue Service (IRS) to file your federal tax return. It essentially means you don’t have to complete your federal tax return by the regular due date, which is usually April 15 (unless this date falls on a weekend or holiday). IRS data shows approximately 10% to 15% of taxpayers file an extension per year.

State Tax Deadlines

• While a tax extension grants more time to file your return, it doesn’t extend the time to pay any taxes due.
• All you have to do is complete and mail or efile IRS Form 4868, Application for Automatic Extension of Time to File U. S. Individual Income Tax return.
• If you don’t owe taxes and instead are entitled to a refund for the calendar year for which you haven’t filed a return, the IRS can withhold your refund until it receives the relevant paperwork.
• Then complete and file your return on or before October 15, 2025.

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IRS E-Filing Shutdown

Read on to learn what a tax extension means, how to get one, and how to use this extended tax deadline to your advantage. The final entry in Section II of Tax Extension Form 4868 is for those individuals who normally file Tax Form 1040NR or Tax Form 1040NR-EZ and do not receive wages subject to U. In Part II of Tax Extension Form 4868, you will need to estimate the total tax liability for the previous calendar year and enter that figure into the appropriate field. If you want to avoid paying any interest or penalties, estimate this figure a little higher than you anticipate. Part I of Tax Extension Form 4868 is basic information ― your name, your address, your Social Security Number (as well as the Social Security Number of your spouse, if you plan to file a joint tax return).

You Can’t Switch From Married Filing Jointly to Separately After the Deadline

If the thought of filing your taxes on time makes you break out in hives, don’t worry—you’ve got an escape route. For many, the dread of tax season is often amplified by the looming deadline, adding extra stress. For those in need, Form 4868 is the unsung hero of spring, granting you an automatic six-month extension to file your tax return.

A Procrastinator’s Guide To Filing An Income Tax Extension

To use the tool, taxpayers need their Social Security number, filing status and exact refund amount. The tool updates once a day, so people don’t need to check more often. Taxpayers with an adjusted gross income of $84,000 or less in 2024 can use IRS Free File guided tax software now through Oct 15. IRS Free File Fillable forms, a part of this program, is available at no cost to taxpayers of any income level and provides electronic forms for people to fill out and e-file themselves.

There is no need to file a separate Form 4868 extension request when making an electronic payment and indicating it is for an extension. Although the IRS doesn’t reject many extensions, it is possible that your extension request gets rejected. Most of the time, this is just due to incorrect information or typos, and the IRS gives you five days to fix the error(s) and resubmit your form that was timely e-filed but later rejected. Under special circumstances, this date might be a little different. For example, if you’re a U.S. citizen or resident alien and you’re living or stationed outside of the country, you’re allowed an automatic two-month extension from the regular due date.

Self-Employed Tax Calculator

If day 15 falls on a Saturday, Sunday or legal holiday, the due date is delayed until the next business day. Your return is considered filed on time if your envelope is properly addressed, postmarked and deposited in the mail by the due date. Most reputable tax preparation software is set up to file an extension for you as well. You’ll receive a confirmation code from the IRS notifying you that your extension was received if you submit Form 4868 electronically. Some deadlines remain carved in stone, regardless of when you file your return. Price-sensitive taxpayers can save money on tax prep by shifting tax preparation to a time when their accountant is less busy and charging a lower fee.

Need to use a credit card to pay taxes owed?

Also, if you are an hourly or salaried employee, have your W-2 Form available for reference. By understanding the process and making timely payments, you can avoid penalties and interest, ensuring a smoother tax season. Whether you choose to file manually or use electronic options like TurboTax, the key is to act promptly and keep track of deadlines. IRS reminds people they can avoid paying interest and some penalties by filing their tax return and, if they have a balance due, paying the total amount due by the tax deadline of April 15. For those who prefer a paper filing option, mailing Form 4868 to the IRS remains a viable method. To do this, download Form 4868 from IRS.gov, fill it out with your personal details, estimated tax liability, and payment (if applicable), and mail it to the appropriate IRS address for your state by April 15.

A wide variety of decisions must be made when you’re preparing your tax return. It can take some work and maybe a consultation with a professional to determine whether you’re actually qualified to take certain deductions and credits—and whether it’s really in your best interest. Filing for a tax extension is a straightforward process, and there are several methods to do so. Typically, the IRS grants an automatic six-month extension, pushing the deadline from April 15 to October 15. Filing taxes can be a daunting task, especially when life’s complexities delay your ability to submit your return by the standard deadline. Vyde is a licensed accounting firm (CPA) based in Provo, Utah, and members of the AICPA.

In some cases, a failure-to-file penalty may be applied to the tax return. So before sending your paper form, check the IRS website to confirm you’re using the correct address for taxpayers in your area. Form 4868, or as it’s officially titled, “Application for Automatic Extension of Time to File U.S. Individual Income Tax Return,” is basically a hall pass from the IRS. When you file this form, you’re telling the IRS, “Hey, I’m going to need a little more time.” It gives you an additional six months—until mid-October—to get your tax return in order.

But before you pop the champagne and push your filing worries to October, let’s unpack what the Form 4868 extension is, how it works, and whether it’s a smart move for you. If you can’t file your federal tax return by the April 18, 2023, deadline, request an extension. An extension gives you until October 16, 2023, to file your 2022 federal income tax return. Many states also allow taxpayers to request a six-month extension for filing state tax returns. Check out your state government website for information about tax deadlines and extensions. A tax extension is considered valid if it’s filed ahead of the original tax deadline, which for 2025 was Tuesday, April 15.