Form 4868 doesn’t even ask for a reason for your extension. It’s rare for the IRS to reject a tax extension. How Do I Know My Tax Extension Request Has Been Approved?Įxtensions are pretty much automatically approved. Miss the second deadline, and you’ll be hit with failure-to-file penalties. But you don’t want to push the deadline because the IRS only gives one extension. How Long Is a Tax Extension?Ī tax extension lasts for six months. We’re talking millions of unprocessed tax returns! 3 So if you want a response from the IRS, you should really try to file electronically. Due to the COVID-19 pandemic, the IRS is way behind on its paper correspondence. Like the taste of licking stamps and envelopes? You can download Form 4868 from the IRS website, fill it out, and snail mail it to the IRS along with a check or money order for your tax bill. But you still have to file your tax return eventually. If you owe taxes and make a full or partial payment online, you’ll get an automatic extension without having to fill out Form 4868. If you want easy-to-use tax software with no hidden fees, check out Ramsey SmartTax. Or you can file an extension with your tax software. The IRS allows you to e-file an extension through the IRS website. By the way, if you own a business, you’ll need to fill out Form 7004 (it’s a little more complicated). But you’ll be missing out on a refund.īut look-if you’re going through the hassle of trying to figure out your tax liability, you might as well just file your tax return. If you don’t owe taxes, you don’t have to file an extension. You need to report this info so you can make a tax payment to the IRS when you file your extension. You’ll also need to estimate your tax liability, and look up how much in federal taxes you paid (you can find that on your W-2). And seriously, the form just asks for basic information like your name, address and Social Security number. So, all you have to do to file an extension is fill out Form 4868. But filing a tax extension is pretty doggone easy, and most are automatically approved. Ever try to navigate the IRS website? It’s a maze of schedules and publications. The IRS has a well-earned reputation for making things overly complicated. 2 Is It Easy to Apply for a Tax Extension? 1 However, filing an extension can help you avoid big failure-to-file penalties, which are 5% a month up to a max of 25%. If you owe taxes, they’re due on Tax Day, and if you don’t pay by Tax Day, you’ll rack up late-payment penalties (0.5% of your tax bill a month up to a max of 25%) and interest. Use one that’s on your side-Ramsey SmartTax.īut fair warning: An extension doesn’t buy you more time to pay your taxes. Read the most recent Form 1040 instructions booklet for more information.Don’t settle for tax software with hidden fees or agendas. Once the IRS and state DOR have processed your income tax return, you can request a payment schedule from them by mail-in form or by phone. If you do not have the money to pay your income tax due, then, you generally must file your income tax return without a payment. What If I Don't Have The Money To Pay Taxes? The Internal Revenue Service will not notify the state department of revenue office for you. ![]() Remember that you must notify and pay both the IRS and your state Department of Revenue (DOR) office. You can then send in your income tax return up to 6 months late with interest and possibly penalty charges forthcoming. If you can not complete your income tax return before the 2023 filing deadline, you are generally expected to mail in an extension of time to file request form AND make an estimated payment. What Happens If I Miss The 2023 Due Date? To get a late filing fee removed, you may be required to mail a copy of your post office receipt to the IRS or DOR. Keep your post office receipt and ensure it is date stamped.Īsk the clerk to stamp it again if it is not. Income tax returns must be postmarked on or before the 2023 filing due date to avoid penalties and late fees. Most state income tax returns are due on that same day.Ī handful of states have a later due date, May 1, 2023, for example. When Are 2022 Taxes Due?įederal income taxes for tax year 2022 are due April 18, 2023. Most state income tax returns require income, adjustments, and credit amounts calculated on your Form 1040.įor this reason, it's important that you prepare your federal income tax forms in advance of trying to prepare your state income tax forms.
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