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How to file an extension for taxes

How to file an extension for taxes

Every citizen is expected to file and pay their taxes at the right time. Just like there are penalties for the failure to pay taxes, there are also penalties for people who fail to file their taxes before the expected duration of time given by the IRS has elapsed.

Sometimes, people get so occupied and busy with the activities of life like school, family, emergencies, and sometimes even health issues that they forget that the deadline for filing their tax is near.

Your tax deadline may have crept up on you either because of other activities or because it simply escaped your mind and you may find yourself panicking because of the lack of time.

We advise that you do not file your taxes in a hurry because rushing through the process may lead to you make lots of mistakes (such as missing necessary credits and deductions) which may rob you of good opportunities and lead to future complications.

The best thing for you to do at this point is to file for an IRS extension for your taxes. If you are unable to file your taxes before the deadline, you need to file for an extension to avoid attracting “failure to file” penalties.

You are allowed to file for a six-month extension to buy more time for you to file your taxes.

Filing for an IRS extension; What you need to know

If you find yourself in a situation where you need more time to file your income tax return, the first thing you need to do is file an IRS extension by filing and submitting the Form 4868, Application for Automatic Extension of Time to file U.S individual income Tax Return.

A few things you should know when filing for an IRS extension for your tax include:

  1. You can file either electronically or manually.
  2. You should fill out the required information about your identity on the form either electronically or on paper.
  3. Information about your tax history will be required. You should fill that in as well.
  4. You will be required to state if you are a US citizen or a resident who is out of the country
  5. An extension to file your taxes is not an extension of time to pay your taxes. Failing to pay any tax before the deadline will attract penalties to you.

If you are filing electronically, the form is available on the IRS website. It is a relatively easy and straightforward process.

How do I know if my tax extension was accepted?

After filing for an extension, it is easy to just rest, assuming that your extension was received and approved by the IRS. However, it is safer to confirm before assuming anything.

When you file your taxes electronically, you are supposed to get a confirmation email from the IRS within 24 hours of filing.

If your extension was sent in on time then there’s a high chance that it was approved. However, it is always best to double-check and confirm that your request was approved by either calling the IRS or waiting for a confirmation email.

Have you missed a tax filing deadline? Do you need help with filing for an extension? We are Souri, Gazda, and Co. and we are here to help you.

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We are a tax relief firm dedicated to giving you the best results regarding resolving your tax debts. Our team of qualified professionals is available round the clock to provide you with the assistance you need. Contact us now at 888-585-8629 or 617-430-4674 or send us an email at [email protected].

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Internet subscribers, users, and online readers are advised not to act upon this information without seeking the service of a professional accountant. Any U.S. federal tax advice contained in this website is not intended to be used for the purpose of avoiding penalties, of any kind, under U.S. federal tax laws.