eFile Tax Extension Online
As the tax filing deadline looms closer each day it's hard not to find yourself in a tizzy if you haven't been able to put the time aside to prepare your tax return. Fortunately, you can electronically file a tax extension in just a couple minutes online.
File Tax Extension Form 4868 and Get 6 More Months to Prepare and File Your Tax Return.
By submitting Form 4868, (Application for Automatic Extension of Time To File U.S. Individual Income Tax Return) by the standard due date for filing your annual calendar year tax return (usually April 15, or just after if it falls on a weekend), you can gain 6 more months to file your tax return.
You can get an automatic six-month extension to file your federal income tax return by submitting a Form 4868 by the April 15 due date for the tax returns.
It's true — anyone can get a tax extension.
While it is true that anyone can get a tax extension, it is important to remember that it is an extension of time to file your tax return, "not an extension of time to pay any taxes due". Make sure you pay any remaining taxes owed to avoid penalties.
Tax Extension Form 4868 says “Automatic Extension” since all that is required of you is to prepare and submit Tax Form 4868 (in lieu of your income tax return) by the April 15 tax filing deadline for the IRS to automatically grant you an extension of time to file. Should there be an issue, the IRS will notify you of the problem so that you can make the correction needed and re-file for your extension. You do not need to do anything else to receive an extension of time to file your return.
Video: TurboTax How To File A Tax Extension
Pay your taxes owed on or before April 15th
When you submit IRS Tax Form 4868, you should also submit payment for any taxes that are still owed in order to avoid interest and penalty charges such as late payment fees which will continue to accrue until all taxes due are paid in full. You can use the TurboTax tax calculator to determine your taxes owed in minutes.TurboTax Tax Refund Calculator
A tax extension grants you 6 additional months to a extended tax filing deadline of October 15th. For all you procrastinators like myself, this is a nice option for gaining more time to complete the tax return preparation process.
Video: TurboTax How To File For A State Tax Extension
Get cheaper tax software with an extension
One great big advantage to filing for a tax extension is the fact that once the normal tax season is over, tax software goes on sale for the rest of the year.
Bargain deals offered by top brand companies like TurboTax makes it easy to save some serious cash after April 15th. These discounts run right up to the extended deadline in October for those filing later with the advantage of a tax extension.
These discount deals in themselves are a great reason to file form 4868 and extend your tax filing date to take advantage of lower tax software prices to save more cash on your tax filing process.
Making Tax Payments Electronically
You can make a payment using the IRS electronic payment options. When you do this, your
extension will be automatically
processed when you pay part or all of your estimated income taxes owed electronically.
You can pay online using the Electronic Federal Tax Payment System, (Direct Pay) by making a direct transfer from your bankaccount, or by debit or credit card.
You can also pay by phone using the same Electronic Federal Tax Payment System. For more information, go to irs.gov/payments.
Receiving A Confirmation For Your Payment
Once you have made a payment, you will receive a confirmation number from the IRS, Keep this number for future reference.
Pay Your Taxes By Check Or Money Order
If you choose to pay by check or money order with Form 4868, use the appropriate address for where you live.
- Do not send cash. Make your check or money order out as payable to the “United States Treasury.”
- Write your Social Security Number (SSN), and daytime phone number, along with the tax year your payment is for on your check or money order.
- Do not staple or attach your payment to Form 4868.
- If you e-file Form 4868 and mail a check or money order to the IRS for payment, use paper Form 4868 as voucher.
Almost every taxpayer in American is eligible to file for a federal tax extension. The process online process works automatically.