IRS: How to file an income tax extension

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Eevery year around 20 million Americans file their tax returns past the due date of April 15but fortunately for them, the Internal Revenue Service is ok with that, as long as the taxpayer submits the correct form to file for an extension.

This allows a taxpayer to file their income tax return six months later, on October 15but it doesn’t allow the individual to have any extra time to pay for the taxes that may be owed in the return.

Those struggling to with tax debt, especially those with more complex taxes, can be assisted by a tax expert and look for options on eligible relief available.

Tax extension methods

The IRS has made available two options to request an extension on income tax filing for taxpayersone of them is to mail Form 4868 or make an electronic partial tax payment, but this extension request must be filed before your regular tax filing date deadline.

But the IRS has stated that the easiest and fastest option is to use Form 4868 and submit it using the IRS Free File service. In this one-page document, the taxpayer will have to put in their name, address, Social Security number and his/her estimated tax liability.

Another available option is to make an electronic tax payment for some or the total of the estimated income tax through the Pay Online option of the IRS.

when making the payment, it should be noted that is being made for a tax extension and the taxpayer must save the confirmation number on his/her records. This way the IRS will process it as an extension request.

Tax extensions’ special rules

Some taxpayers are allowed extra time when it comes to filing their taxes, without them having to file for an extension.

Among them we can find US citizens and resident alients who work outside of the United Sates and Puerto Ricowho have an automatic two month extension in their filing, but still must pay their taxes by April 15, to avoid any interests.

Also active duty military personnel that’s posted outside the US and Puerto Rico receive automatically a two month extension, as well as those taxpayers that were affected by disaster, as long as the President declares a disaster in their area, they can postpone their IRS deadlines.

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