The deadline to file tax returns, April 18, is quickly approaching, but for anyone who needs some extra time, filing an extension will give them an extra six months.
The Internal Revenue Service allows taxpayers to use its Free File program, which is a public-private partnership between the IRS and several tax preparation companies, to request an automatic tax-filing extension by April 18. This extension can be received by estimating one's tax liability, filling out and sending in Form 4868, and paying any amount that the taxpayer owes, according to the IRS.
The IRS has cautioned that receiving an extension to file taxes does not delay the due date of when one needs to pay their taxes. When requesting an extension, a taxpayer should estimate and pay any owed taxes by the regular deadline, which for most will be April 18, in order to avoid any penalties. Although an extension will typically give filers until Oct. 15 to file their taxes, an extension this year will give them until Oct. 16. This is due to Oct. 15 this year falling on a Sunday, which causes the extended deadline to be pushed to the next business day.In the case when a taxpayer needs to ask for an extension but has already missed the April 18 deadline, a taxpayer can print and mail Form 4868.
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