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How Long Is a Tax Extension?

tax extension

A tax extension grants you an extra six months to file but doesn’t give you any extra time to pay.

A tax extension gives you an extra six months to file your return.

You must file an extension by April 15th (or whatever the normal tax deadline is for that year). It then grants you an extra six months to file, making your new deadline October 15th.

This year for 2018 taxes, for example, if you requested an extension by April 15, 2019, your return is due by October 15, 2019.

Note an extension only give you an extra six months to file, it does not give you an extra six months to pay.

When you request an extension, you will have to estimate your tax liability and pay any tax due or else you could be subject to failure-to-pay penalties starting April 15th. Continue reading “How Long Is a Tax Extension?”

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What Is the Last Day to File Taxes?

Each year, “Tax Day” is April 15th & E-File Shuts Down on October 15th.

Each year, the deadline to file a tax return is April 15th. However, the e-file tax season doesn’t officially end until October 15th.

October 15 also marks the due date for filers who requested a tax extension.

That means, you must either file your return or request an extension by April 15th.

You can either e-file your return or mail in a paper return by the tax deadline. Note that if you are filing a paper return, your return must be postmarked by April 15th in order for it to be considered on time.

Continue reading “What Is the Last Day to File Taxes?”

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File a Tax Extension Online with Form 4868

Filing a tax extension gives you an extra six months to file your return, but not to pay your tax bill

The April 15th tax deadline is still over a month away, but for many taxpayers this won’t be long enough to get their financial ducks in a row. Thankfully, the IRS allows you to file an extension and buy yourself a little extra time.

An extension gives you an extra six months to file. Instead of being due on April 15, 2013 your tax return will then be due on October 15, 2013. E-file stays open until the October deadline so you can prepare and file your return just as you would during the season.

In order to request a tax extension you must file Form 4868 [Application for Automatic Extension of Time to File U.S. Individual Income Tax Return] by the normal tax deadline, April 15th.

An extension does not, however, give you an extra six months to pay the tax man. On Form 4868 you must estimate your tax liability and pay any balance due. If this amount is different from what you get after actually filing your taxes later in the year, you will either receive the difference in the form of a refund or have to send an extra check to the IRS. Continue reading “File a Tax Extension Online with Form 4868”