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Income Tax Extension

If you think you will not be able to complete your tax filing by April 15th, you may want to consider filing for an income tax extension.

How to file for a federal income tax extension?

The income tax extension form is the tax form 4868. To qualify for an IRS income tax extension, you need to file the tax form 4868 not later than the due date of your tax return which for most people it is April 15th.

How long is the income tax extension?

If a taxpayer files an income tax extension form on time, then an automatic 6 month extension is given. However, the income tax extension does not extend the time you have to pay your taxes due to the IRS.

How to automatically qualify for an income tax extension without having to file the income tax extension form?

Certain taxpayers are qualified for automatic income tax extension without having to file the income tax extension form, form 4868. These taxpayers are:

  • those who live outside the US and Puerto Rico AND the main place of business or post of duty is outside the US and Puerto Rico
  • those who are in military or naval service on duty outside the US and Puerto Rico

If you did not file the income tax extension form then the automatic tax extension gives you an extra 2 months to file and pay the tax.

Does income tax extension apply to interest charged?

No. An income tax extension does not apply to interest charged. Interest will be charged from the original due date or the return on any unpaid tax. If a taxpayer has automatic qualification of income tax extension, he or she must attach a statement to his or her income tax return showing that he or she meets the automatic qualify income tax extension requirements.

Filing the income tax extension form after the automatic tax extension

If the taxpayer who qualifies for an automatic income tax extension needs more time than 2 months, then he or she can file the income tax extension form or form 4868 to get an additional 4 months of income tax extension. The taxpayer must file the income tax extension form no later than June 16th to get this additional income tax extension to file.

Does the income tax extension means I don't have to pay taxes yet?

No. The time to pay taxes is not extended.

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