I Don't Think I Can File My Taxes by April 15 - What Can I Do?

The tax filing deadline of April 15th is fast approaching and you haven’t filed your family child care tax return yet.

Don’t panic. If you need more time you can file for a six month extension.

Sometimes child care providers need more time to calculate their depreciation deductions, sort out their records, or deal with a family emergency. However, you don’t need to give a reason when you file for an extension.

File Form 4868 Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. This will give you until October 15th to send in yourtax forms.

By filing Form 4868 you do not have more time to pay the taxes you owe. They are still due on April 15th. If you don’t know how much you will owe, pay what you estimate you will owe with this form. If you underestimate this amount, you will owe interest on the unpaid taxes. If you overestimate, you will get a refund.

Tom Copeland – www.tomcopelandblog.com

Image credit: https://www.quoteinspector.com/images/taxes/april-15-spiral-notebook/

For more information, see my Family Child Care Tax Workbook and Organizer.