How To File For A Tax Extension


MoneyTips

Procrastinator alert: your taxes are due! If you are nowhere near ready as the scary deadline approaches, you may file an extension with the IRS that gives you up to six more months to file your taxes. Filing an extension will spare you from late filing penalties — 5% of the amount of tax you owe for each month or partial month past the April 15th deadline. The extension is automatic — you do not have to send any justification or reasoning like “I have 5,000 wadded-up receipts crammed in a shoebox.”

To file an extension, fill out IRS Form 4868, “Application for Automatic Extension of Time to File U.S. Individual Tax Return” and submit it before the April 15th filing deadline. The form and instructions are available at your local IRS office, online at the link above, or throug…

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