The Internal Revenue Service (IRS) today reminds taxpayers who can not file a tax return on time that it is very easy to file an extension. In fact, you can file an IRS extension online very easily. These tips are designed to help you navigate common tax problems while approaching the deadline for the April 15.
For taxpayers who have not filed your taxes, the IRS has this advice: do not panic. Taxpayers who need more time to complete your tax return may request an automatic extension of six months. The fastest and easiest way to get this extension is through the link IRS Free File on IRS.gov. Within seconds, anyone, regardless of income, you can use this free service to request an extension electronically on Form 4868.
Using IRS FreeFile for Tax Extension
Fill out this form allows taxpayers to file a tax return until October 15. To receive this extension, taxpayers must estimate your tax liability on this form and must pay any amounts due.
The IRS warns taxpayers that asking for an extension will provide more time to file a tax return and no longer to pay the taxes due. Introducing a normal tax return or request an extension before the deadline of April 15, taxpayers will avoid the penalty for filing late. Taxpayers should file a return even if they can not pay the full amount of taxes owed.
The penalty for filing a late, usually five percent per month based on the balance of taxes have not been paid, applies to returns filed after the deadline of April 15. In addition, any payments made with the extension request will reduce or eliminate interest and penalties on late payments, that apply to payments made after April 15. This rate is three percent per year, accrued daily, and a late payment penalty is normally 0.5 percent per month.
Automatic Tax Filing Extensions with IRS FreeFile
Besides Free File, taxpayers can choose an extension through a paid tax preparer, using preparatory program business tax or file a paper Form 4868 available IRS.gov. Some taxpayers can wait longer without having to ask for an extension.
More Information about Tax Extensions
Taxpayers abroad . US citizens and residents who live and work abroad, as well as members of the army outside the US, have until June 15 to file. Tax payments still to be made by the deadline of April 15. Members serving in Afghanistan and other military combat zones .
Tax Extensions and Combat Zones
Typically, taxpayers can wait until 180 days after leaving the combat zone to file a tax return and pay the taxes due. For details, see Publication 3 , Extensions of Deadlines, Tax Guide of the Armed Forces. People affected by certain recent natural disasters which the IRS outlines as eligible for tax extensions and no penalty.