You can also pay the amount that you think you owe and send in the actual federal tax return later. You need to include a check or money order or pay online if you have tax due. If the IRS rejects it, you may be liable for penalties. Make sure you completely fill out the application for automatic extension. Just keep in mind that there’s no reason to pay a lot of money to file this simple form. You can also use an accountant or reliable tax preparation software program like H&R Block. If your income is greater than $72,000, you can e-file IRS Form 4868 using IRS Free Fillable Forms. Filing an extension is free using this system. If your income is below $72,000, you can use a tax software provider through IRS Free File. They’ll quickly notice if you fail to pay them on time. Keep in mind that the IRS is very slow to process paperwork but very quick about processing payments. You can file electronically, by mail, or you can simply send the IRS the amount you think you owe them. You must pay at least an estimated amount of your total tax liability. If you owe money, it’s still due on the original due date. Unfortunately, an IRS tax extension request only applies to the tax paperwork, not payments. Does an Extension Give Me More Time to Pay? Otherwise, you can assume it was accepted. The IRS only contacts you if they deny your request. If you’re married filing jointly, you must supply your spouse’s Social Security number as well as your own when you apply for the extension. You can inform the IRS if you’re living outside of the country, but otherwise, it’s only interested in getting an estimate of the taxes you owe. Who Can File for an Extension?Īnyone can apply for an automatic extension of time, and best of all, the IRS doesn’t ask why. If you’re in that situation, file the extension and send in what you think you’ll owe to minimize late payment penalties. The IRS still expects filers to pay on the regular due date, even if they don’t file a return.
However, if you think you owe the IRS money, the extension doesn’t cover that. So, if you don’t have it all together by tax day in April, don’t panic, especially if you’re expecting a refund. The Internal Revenue Service allows taxpayers to apply for a six-month extension of the tax filing deadline. But don’t let a looming deadline force you to rush through the paperwork and race to the United States Post Office at 11:58pm. If you’re the one who’s always running late, the April 15 tax filing deadline may seem to come from nowhere. This kind of behavior can be annoying on a personal level, but it can have dire consequences when tax season rolls around. It seems like everyone has at least one friend or family member who’s chronically late for everything: dinner, work, parties, you name it.
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