IRS Extension: Allow More Time. How To Submit & What to Know

In late March, the IRS reminded all of us that the last day to file your tax return is April 18. If you realize you need more time to file, you may do so before April 18th and extend your due date through October 17.

Please note that filing an extension is not an extension of paying your taxes. It is an extension of filing your tax return! You must still pay your taxes, even if it is an estimated amount, to avoid paying penalties and interest. For most states, taxpayers must file by Apr 18, 2022. For Maine and Massachusetts, they are given a 1 day extension due to the Patriot’s Day holiday in those states.

There are mitigating circumstances that allow taxpayers extra time to file AND pay their taxes. These circumstances include natural disasters, living overseas, military deployment, and personnel in combat zones.

How To File A Tax Return Extension

You may file a tax return extension for any reason. You simply have to submit Form 4868 with the IRS online or by mail before the filing deadline. A tax professional can help you determine how much you owe the IRS with our tax preparation services. You’ll receive an in-depth look on your taxes and pay the correct amount when the deadline approaches. Avoid dealing penalties and interest fees and file for an extension on time.

You may pay your estimated electronically or through the mail. Though if you pay electronically, you do not need to submit Form 4868 because the IRS will automatically count the electronic payment as an extension.

Am I Eligible for a Tax Return Extension?

Any taxpayer can file for any reason. There are no special requirements necessary to submit an extension request form.

There is NO Penalty for Filing A Tax Return Extension

That’s right. You DO NOT get penalized for requesting an extension. You do, however, receive a penalty if you fail to pay your taxes, do not pay at least 90%, or don’t file a tax return or extension at all.

The Best Way To Request An Extension

The IRS highly recommends speaking with a tax professional about an extension. Because the extension is on a tax return and not on your tax payment, it’s important to calculate your taxes the right way when you submit your form of payment on April 18. If your tax payment is incorrect, you will receive a penalty fee. Avoid penalty fees with America’s Choice Tax! We’ll file your forms and conduct a complete overview of your taxes.

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