Taxes 2022: Here's how to get a filing extension from the IRS

pandemic — giving Americans extra breathing room to wrap up their returns. But this year, Tax Day returns to its regularly scheduled deadline, with returns due April 18.

"People do have a tendency to wait until the last minute," noted Eric Bronnenkant, head of tax at Betterment."You can get an extension for six months or so, but one of the most important things to know about filing for an extension is that it's not an extension to pay." Taxpayers who get an extension to file their taxes will have until October 17 to file their taxes. Typically, the extension gives people until October 15 to file their forms, but because that date falls on a Saturday, taxpayers have until the next business day, October 17, to file.First, you'll have to request an extension by April 18 or you could face a"failure to file" penalty, the IRS said.

For instance, if you estimate that you owe $10,000 but end up actually owing $11,000, you'll be charged an underpayment penalty. But it will be less painful to face an underpayment penalty for $1,000 rather than the entire $11,000 that you owe, Bronnenkant noted. If it turns out the IRS owes you money, you'll have to wait until after the IRS processes your tax return for the refund.

Gadfry, for something we want we must ask

Whole tax code needs to be re-written. Why even have a deadline to begin with?! Figure out better ways for the digital workd

That’s kinda like that voting thing.

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