Don't Panic! How to Get More Time to File Your U.S. Individual Income Tax Return
Tax season can be a stressful time, especially if you find yourself needing more time to gather all the necessary documents and information to file your return. Fortunately, the IRS allows taxpayers to request an automatic extension of up to six months to file their U.S. individual income tax return. Here's what you need to know.
First and foremost, it's crucial to understand that an extension of time to file is not an extension of time to pay. You must still pay any estimated income tax due by the regular due date of your return to avoid penalties.
There are three ways to request an automatic extension:
Pay all or part of your estimated income tax due using IRS Direct Pay, EFTPS (The Electronic Federal Tax Payment System), a debit or credit card, or a digital wallet. You'll receive a confirmation number for your records.
E-file Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return, using your personal computer or through a tax professional who uses e-file.
File a paper Form 4868. Note that fiscal year taxpayers may only file extensions by filing a paper Form 4868.
If you choose to file Form 4868 electronically, make sure you have a copy of your prior year's return handy, as you'll be asked to provide your adjusted gross income (AGI) from that return for verification purposes. Once you've filed, you'll receive an electronic acknowledgement from the IRS confirming that your filing has been accepted. Keep this for your records.
Several companies offer free filing of Form 4868 through the Free File program, so be sure to explore your options for filing and paying electronically using e-file services, either through your tax software or a tax professional.
Remember, requesting an extension is a simple process that can provide you with peace of mind and extra time to ensure your tax return is accurate and complete. Just be sure to file your extension request by the regular due date of your return to avoid any late filing penalties.
