Income Tax Extension Online
For The 2017 - 2018 Tax Season
deadlines, deadlines, we all dread them but they exist,
and they must be met! Otherwise, there are consequences.
An income tax extension is a very useful tool that allows
American tax payers to delay the tax filing deadline and
get up to 6 more months to prepare and file their federal
income tax return with the IRS.
Sweet Right? Well don't be too giddy about it because
it does NOT buy you more time to pay any taxes that are
still owed, so don't misunderstand that right up front or
it will cost you a bit of pocket padding!
Fact is you must pay any tax amount that is still due
by the original April 15 tax filing date in order to avoid
penalty and interest charges from the IRS.
Application for Automatic
Extension of Time To File U.S. Individual Income Tax Return
are four methods that taxpayers may use to request an automatic
extension of time to file a U.S. individual income tax return.
- You can click the file tax extension button here
for a fully guided tax extension filing process that
takes just a few minutes. It's the simple method!
- You can use the Electronic Federal Tax Payment System
"Direct Pay", or your credit or debit card to pay all
or part of your estimated income tax amount due and
indicate that the payment is for an income tax extension.
- You can prepare and file tax extension Form 4868
electronically by accessing the IRS e-file website using
your computer, or a professional tax service.
- You can prepare and file a hand written paper Form
4868 and enclose your payment for the estimated amount
of taxes due.
Who Can Qualify for Filing
An Income Tax Extension?
Virtually and individual taxpayer may submit tax extension
form 4868 to request an extension of time to prepare and
file their federal tax return. The IRS will grant this extension,
or alert you to why it was not granted so that you can make
any corrections needed and resubmit.
Avoiding Late Filing
Penalties and Interest Charges
The IRS will generally charge a late tax filing penalty
if your income tax return is filed after the due date (including
extensions). The penalty will generally be 5% of the amount
still owed for each month or part of a month your federal
tax return is late. A maximum penalty of 25% exists. However,
if your tax return is more than 60 days late, a minimum
penalty of $135 (adjusted for inflation) or the balance
of taxes due on your return, whichever is smaller is assessed.
How To Claim Credit for
a Form 4868 Tax Payment
Use the appropriate line on your tax return to include
the amount of any payments you made with your Form 4868
submittal. Depending on the tax form you use, the instructions
on each tax form are listed below.
- Form 1040, line 70.
- Form 1040A, line 46.
- Form 1040EZ, line 9.
- Form 1040NR, line 66.
- Form 1040NR-EZ, line 21.
- Form 1040-PR, line 11.
- Form 1040-SS, line 11.
When spouse each file a separate Form 4868 and later
file a joint return, they will need to enter the total amount
paid on the appropriate line of their joint return. If spouse
jointly file Form 4868 but later file separate returns,
they can enter the total amount paid on either of the separate
tax returns. Not Both!