Calculate Income Taxes for the 2019 - 2020 Tax Season

File An Income Tax Extension Online For The 2019 - 2020 Tax Season

Deadlines, 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

There are four methods that taxpayers may use to request an automatic extension of time to file a U.S. individual income tax return.

H&R Block FREE Income Tax Calculator

TurboTax FREE Income Tax Calculator

  1. 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!
  2. 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.
  3. 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.
  4. 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!