How to File a Tax Extension

Tax day is Monday! April 15th is just around the corner. Have you filed your paperwork yet? If not, what’s holding you back? Are you still waiting for specific documentation that should have been sent to you ages ago? Maybe you’re living outside of the US and don’t know how to. For these situations and more, the IRS is kind enough to allow extensions on your taxes. You just have to apply for them.

Form 4868

Form 4868 is the Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. It extends the deadline for your paperwork 6 months (until October 15, 2013).

It is due by April 15th in place of your tax returns. Turning in the form does not push back the payment of taxes you owe though. It only pushes back the paperwork and your return (if you have anything coming back). Any amount you would owe the IRS needs to be estimated and paid by April 15th as well.

An extension grants you more time to obtain and turn in the official paperwork. It does not further remove you of your tax responsibility that day, should you owe any money.

Special instructions apply to those individuals that are living outside of the US, out of the country when 6-month extension expires, or serving in a combat zone or qualified hazardous area of duty. The IRS website provides specific information to these special situations.

Extensions

Extensions for filing are available. Simply turning in Form 4868 and paying money you owe by Monday, April 15th will grant you more time to turn in the official paperwork. Take advantage of this opportunity as soon as possible if you know you won’t have everything by tax day. You will significantly decrease the stress in your life by filling it out as soon as possible.

If you have any further questions about extensions, feel free to ask the Tax Crisis Institute for help.

photo credit: MoneyBlogNewz via photopin cc

Related Posts