Need More Time to Prepare Your Tax Return?
If you find yourself needing extra time to prepare your federal income tax return, don’t worry!
Internal Revenue Service (IRS) allows taxpayers to request an extension.
Here’s what you need to know and how to file income tax return extension.
Extension of Time to File VS Extension of Time to Pay
Filing an extension gives you additional time to submit your tax return beyond the regular deadline.
However, it’s essential to understand that filing an extension does not grant you an extension of time to pay your taxes.
You should still estimate and pay any owed taxes by your original deadline to avoid potential penalties.
When to File Your Extension Request
You must file your extension request no later than the regular due date of your return.
For 2024 (Tax Year 2023), the due date is April 15, 2024.
However, if you reside in Maine or Massachusetts, your tax return due date is April 17, 2024.
E-File Your Extension Form for Free
Individual tax filers, regardless of income, can use IRS Free File to electronically request an automatic tax-filing extension.
You can e-file your tax filing extension for free through IRS Free File Program.
Or Fill out Form 4868 and mail it to the address shown under Where To File a Paper Form 4868.
Filing this form grants you until October 15, 2024 to file your return.
If October 15 falls on a Saturday, Sunday, or legal holiday, the due date is delayed until the next business day.
To get the extension, you’ll need to estimate your tax liability on the form and pay any amount due.
Get an Extension When You Make a Payment
Another option is to get an extension by electronically paying all or part of your estimated income tax due.
You can make a same-day payment or schedule it using the following methods:
- IRS Individual Online Account
- Direct Pay
- Electronic Federal Tax Payment System (EFTPS)
- Credit or debit card
Indicate that the payment is for an extension.
If you select the extension option during payment, you won’t need to file a separate extension form.
You’ll receive a confirmation number for your records.
Conclusion
Remember, an extension provides you with additional time to file your return,
but it doesn’t change the deadline for paying any taxes owed.
Plan accordingly, estimate your tax liability, and take advantage of the available options to ensure a smooth tax season.
