Filing your taxes on time is compulsory. But, sometimes, circumstances create hurdles in tax filing before the deadline. In such situations, you may think about how to request a tax extension.
A tax extension gives you extra time to prepare and submit your return. Doing so properly helps you avoid costly penalties.
What is a Tax Extension?
A tax extension is an automatic six-month increase in the allotted time to file your US individual income tax return. Typically, if you request by the original tax due date (usually April 15), your new deadline becomes October 15. However, this extension is only for filing. It does not extend the time you have to pay any taxes owed.
How to Request a Tax Extension?
There are three main ways to request an extension:
Pay Online and Mark Payment as Extension
Submit an estimated tax payment through:
- IRS Direct Pay
- EFTPS
- Credit or debit card
- Digital wallets
Indicate that it is for an extension. The IRS will automatically treat that payment as a request for more time to file.
File Form 4868
Complete and submit IRS Form 4868 (Application for Automatic Extension of Time to File). You can file it electronically via:
- IRS e-file (or through a tax professional), or
- Submit a paper form by mail
File a Paper Form 4868
If you prefer or need to file by mail, print and post the form before the tax due date.
How to Request a Tax Extension for Free?
You do not have to pay to request an extension. You can use the IRS Free File. Regardless of income, it is available to all individual taxpayers to submit Form 4868 at no cost.
In addition, if your total income qualifies, you can use Free File Fillable Forms for free electronic filing.
How to Request a Tax Extension Online?
To request a tax extension online:
- Use IRS Free File to complete and submit Form 4868 electronically.
- Alternatively, make an online payment.
- Designate your payment as an extension. In this case, no separate form is required.
- Once submitted, be sure to save your confirmation number for your records.
The Bottom Line
Comprehending how to request a tax extension is a simple, official process. It gives you six extra months to file your return. But, it is not a free pass on payment. Make sure to estimate and pay any taxes due by the original deadlines. Doing so avoids interest and penalties.
Connect with our professionals now. They will guide you through estimating your liability and filing your extension cleanly.
