How To File For An Irs Tax Extension

By Author: Jeff Parrack
Total Articles: 4762
Comment this article

This is the time of year that people start preparing to file their tax returns. For people who are not ready to do so, it's the time of year they start wondering how they can get a filing extension, how long they get to file, when they have to pay and what the consequences are for doing it wrong. It really is not that complicated, but if you tend to get nervous or fearful dealing with tax issues, your best bet is to stop putting things off. You can start by reading this article and then taking the right steps to stay in the good graces of the IRS.

The paperwork you need is called Form 4868, "Application for Automatic Extension of Time to File," and if it is filed correctly and on time it will give you a six-month extension. For tax returns due on April 15, which is most of them, this means an extended due date of October 15. For you first-time "extension needers" out there, it is crucial for you to realize that you do not get any extension on the date for paying your taxes. Along with your Form 4868, you will need to remit the amount that you honestly (and under oath, potentially) believe you will owe in taxes. If you ...
... send a payment of $20 and then file a return on October 15 noting a tax due of $2,000, you are going to open yourself up for penalties, interest and possible charges of defrauding the government.

What returns are extended?
You can use Form 4868 to extend your tax return if you will be filing a Form 1040, 1040A, 1040EZ, 1040NR and 1040NR-EZ, in addition to any other necessary forms or materials. The filing deadline for the so-called gift tax return, Form 709, can also be extended with Form 4868. If you do not know what form you should be filing or have any other questions, you really should consult a tax professional to get the answers. It is always cheaper to pay for good advice than for bad filings, considering the interest and penalties that can add up quickly.

The IRS makes Form 4868, like most other forms and schedules, available in a PDF (Portable Document Format) file that can be downloaded from its Web site. At IRS.gov you will see a link for "More Forms and Publications," which will take you to a page where you can then click on "Form and Instruction Number (PDF)." After you enter "4868" into the "Find" field and click, you will see two versions of the form - English and Spanish - and can open the right one by clicking on "Form 4868" or "Form 4868(SP)" directly beneath the "Product Number" title. The single PDF file will contain both Form 4868 and complete instructions.

Making sure
You have to be just as careful, perhaps a bit more even, when submitting this form and any payment that is due. Make sure to confirm the mailing address, as IRS mailing addresses are based on where you live and not the kind of form you are filing or payment you are making. Speaking of payments, never send cash, of course, but pay by credit card, electronic bank transfer, check or money order. If you do remit a check or a money order, ensure that you make it payable only to "United States Treasury." In addition, note on the check or money order your Social Security number, home phone number and "Tax Year X Form 4868" (where X is 2011, 2012 or whatever the appropriate year is).

You should use a mailing service that can provide proof of mailing and/or receipt, and tracking if you feel you need it. The USPS is a quasi-government agency, while FedEx and UPS are "approved private mailing services." The Form 4868 instructions (page 4 in the current version) list mailing options and other information you need to know if you use one of the private services. Finally, of course, make certain that you file Form 4868 on or before the appropriate tax deadline, which for most taxpayers, whose calendar year and fiscal year are identical, means on or by April 15.

Special cases and more information
Taxpayers that are defined by IRS rules as being "abroad" are given certain concessions. Again, the IRS Web site and the instructions to Form 4868 supply many details and special instructions if you are outside the United States or Puerto Rico, and military personnel outside of the U.S. or Puerto Rico also need to be aware of certain concessions and additional requirements. If you begin this process alone and find you are getting in over your head, make sure to ask a tax professional for help. It always costs less to get it right than to pay the IRS for your mistakes.
About Author:
At Online Tax Extension we provide an irs extention and coordinate with the IRS on a personal and professional level to guarantee the smooth transfer of sensitive personal, financial, and tax information as quickly as the IRS computer system will accept it from us for as many of their forms as possible.