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Need an extension to file taxes?

The tax deadline for 2015 is April 18, 2016 and it is rapidly approaching. If you need more time to file your taxes, you can get an automatic extension until October 17th by the IRS. But you should be aware of some things in filing an extension.

You can obtain an extension by filing form 4868 which is available for free on the IRS website at www.irs.gov/forms. Simply fill out the form with the requested information and mail it in to the IRS before the tax filing deadline of April 18th.

More time to file is not more time to pay. An extension to file will give you until Oct. 17 to file your taxes. It does not, however, give you more time to pay your taxes. Estimate and pay what you owe by April 18 to avoid a potential late payment penalty. You will be charged interest on any tax that you don’t pay on time. You may also owe a penalty if you pay your tax late.

Life is taxing, let us help!

This entry was posted in IRS, extension to file taxes, Money Matters, Steidl and Steinberg, Taxes, taxes