Tax Resources

File a Tax Extension

There are times you may need to file a tax extension. You need to fill out the federal income tax filing extension form and mail to the IRS. If you know you will not be able to file your taxes on time, you must file a tax extension form or you will incur tax penalties. Filing an extension for taxes is not as difficult as one might think. You can even use Turbo tax to file extension. Nowadays, there are even e extension file for free tax services. However, IRS extension does not mean you do not owe taxes to the IRS.

How to file a tax extension?

File a tax extension

To avoid tax penalties for filing taxes and paying taxes late, you should use the tax filing extension forms. You will not get out of paying taxes. To file a tax extension for your personal federal income tax return, use the initial filing extension IRS tax form 4868 called the Application for Automatic Extension of Time to File US Individual Income Tax Return.

When is the deadline to file a tax extension form? How long is the tax filing extension for?

The long named IRS tax extension form must be filed on or before April 15 which is the tax filing deadline. By filing for an extension for income tax using this IRS tax form, you are allowed 4 more months to file your tax return. This is the automatic tax filing extension and the IRS will not ask questions about why you file your tax return late.

Tax filing extension vs Tax payment extension

Many people are confused of the differences between tax filing extension and tax payment extension. When you file a tax extension, the IRS allows you more time to prepare and file your tax return. The IRS does not give you a tax payment extension when you file a tax extension using the IRS tax form 4868. When you file a tax extension, you must submit with your tax filing extension form the taxes owed to the IRS. You can use the IRS tax worksheet to estimate your taxes owed to the IRS.

How to file a tax extension the second time?

If four months is not enough tax filing extension for you, you need to file the IRS tax form 2688 called Application for additional extension of time to file US individual income tax return. This second tax filing extension form must be filed with the IRS before the extended due date given to you by the first tax filing extension. By filing this IRS tax form 2688, you are given two more months to prepare and file your tax return, until October 15. However, the IRS does not have to grant you the second tax filing extension. You have to convince the IRS giving enough explanation and evidence that you need more time to file your tax return.

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