How to File For a Tax Extension

Nothing better than the April 15 tax filing deadline looming over your head, right? If you are a procrastinator and really need some extra time to file your taxes, the IRS and state governments can provide you with an extra 6 months if you need it. Learn how to file for that tax extension from the steps below.

Instructions

Difficulty: Easy

Things You’ll Need:

• Two envelopes with paid postage
• Calculator
• Your salary information
• Telephone
• Credit card

Filing for a Federal Tax Extension--Traditional Paper Method

1. Go to the Internal Revenue Service (IRS) website and search for Form 4868 (see Resource below).
2. Complete Form 4868 according to IRS directions.
3. Alternatively, complete the E-File Form 4868 according to the directions listed in your own income tax software. Just be sure to download the latest updates available for the software if it is several years old.
4. Mail the completed form to the IRS as you would your normal tax return. The letter must have a postmark by April 15 and not a day after, or it will be considered delinquent.

E-File Federal Income Taxes and Pay by Credit Card Without Mailing Paper Forms

5. Obtain your credit card and call the IRS service provider at (888) PAY-1040 and follow the prerecorded directions.
6. Alternatively, you can pay by credit card at Link2Gov's website (see Resources).
7. Do not mail a paper copy of your federal tax extension or Form 4868 unless specifically directed by the Link2Gov system.

Filing State Tax Extensions

8. Go to the treasury department for the state in which you reside and complete their version of an extension. This can be as simple as typing in your "state" and "tax extension" into any search engine.
9. Follow the directions given to you by your state's treasury department.
10. Mail the completed forms required by your state government no later than April 15.

Tips & Warnings

• If you are mailing your documents on the final day (April 15), physically walk your mail into a post office to ensure it is postmarked on April 15. If not, the IRS will likely consider your tax statements delinquent.
• If you use a tax professional's services, they will likely have all of this extension information readily available for you and can complete the process within several minutes. Some may even insist upon it if they receive a flood of customers.
• If using a home-based tax software program, make sure to download any new updates from the previous year since tax laws always change from year to year.
• Make sure to calculate your estimated income relatively accurately and prepay the interest penalty. If you owe significantly more than you estimated, you may be required to pay an interest charge on money you owed the federal or state governments.