Tips and Reminders for Taxpayers to Request an automatic Six-Month Extension to File Their taxes and Avoid Penalties
The tax season can be a stressful time for many people, especially those who are unable to file their tax returns by the April 18 deadline. Fortunately, anyone can request an automatic six-month extension to file their taxes, allowing extra time to gather, prepare, and file paperwork with the IRS.
However, there are important things that taxpayers should be aware of before requesting an extension. Firstly, an extension to file a tax return does not grant an extension to pay taxes owed. Secondly, taxpayers should estimate and pay any owed taxes by their regular deadline to avoid possible fines. Lastly, taxpayers must file their extension no later than the regular due date of their return.
To request an extension, individual tax filers can use IRS Free File to online request an automatic tax-filing extension. The fastest and easiest way to get an extension is through IRS Free File on IRS.gov, or by using the online tax system that taxpayers are using to prepare their taxes. Form 4868, which gives people until October 17 to file their tax returns, can be used to electronically request an extension from the IRS. Taxpayers must fill out this form with an estimate of their tax liability if they want the extension, and they must make any required payments on time.
Using IRS Direct Pay, the Electronic Federal Tax Payment System, or paying with a credit or debit card or digital wallet can be a convenient way to make a payment or request an extension. However, taxpayers should note that using credit or debit cards may incur fees, and they should compare those fees to the interest and fines they may face for not paying their taxes on time.
Some states accept the federal extension, while others require a separate state extension form, so taxpayers should check with their state tax agency for requirements.
Extension request gives more time to file tax returns, not to make required payments, as IRS reminds taxpayers. Payments must still be received by the original deadline. Even if they are unable to pay the full amount, taxpayers should file. File Form 4868 to request an automatic 6-month extension for tax return filing beyond the April 18 deadline. This will give them until October 17, 2023, to file their tax returns without incurring the late-filing penalty.
It’s not necessary to request extensions for certain eligible taxpayers to receive additional time to file. These include U.S. citizens and resident aliens who live and work outside of the United States and Puerto Rico. Members of the military on duty outside the United States and Puerto Rico, and those serving in combat zones. IRS can delay certain taxpayer deadlines for residents and businesses in a disaster area stated by the President.
The deadline for submitting 2021 tax returns or an extension and payment has been moved to April 18. This is due to holidays in DC, Maine, and Massachusetts on April 17 and the 15th falling on a Saturday.
As a final reminder, it’s important to keep in mind that tax laws are incredibly complex and nuanced. Although this article offers helpful information, seeking assistance from a professional tax professional may be necessary due to unique circumstances. That’s why we encourage you to seek out professional help rather than trying to navigate it all on your own.
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