Tax time and every one of us are getting our paper works ready, you know that April 17 is the last day to report it with the IRS. If you’re not ready don’t get panic you can claim additional time to file your tax returns by reporting Extension Tax Form 4868 for personal returns and Form 7004 for business returns.
Tax-filing extensions are available to taxpayers who need more time to finish their returns. Remember, this is an extension of time to file, not an extension of time to pay. However, taxpayers who are having trouble paying what they owe may qualify for payment plans and other relief. Either way, taxpayers will avoid stiff penalties if they file either a regular income tax return or a request for a tax-filing extension by this year’s April 17 deadline. Taxpayers should file, even if they can’t pay the full amount due. Here are further details on the options available.
More Time to File – ExtensionTax.com
People who haven’t finished filling out their return can get an automatic six-month extension. The fastest and easiest way to get the extra time is through electronic filing. In a matter of minutes, anyone, regardless of income, can use http://ExtensionTax.com eFile service to electronically request an automatic 6-month tax-filing extension using IRS Tax Form 4868.
Filing this form 4868, gives taxpayers until Oct. 15 to file a return. To get the extension, taxpayers must estimate their tax liability on this form and should also pay any amount due.
Some taxpayers get more time to file without having to ask for it. These include:
- Living outside the United States : Taxpayers abroad. U.S. citizens and resident aliens who live and work abroad, as well as members of the military on duty outside the U.S., have until June 18 to file. Tax payments are still due April 17.
- Serving in a combat zone or a qualified hazardous duty area
You can also get an extension by paying all or part of your estimated income tax due and indicate that the payment is for an extension using Direct Pay, the Electronic Federal Tax Payment System (EFTPS), or a credit or debit card. This way you won’t have to file a separate extension form and you will receive a confirmation number for your records.
Business and Corporations – ExtensionTax.com
Form 7004, Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns
Business filing C-Corporations, Estates, Trusts who has there tax due on 4th month of the year, also can claim additional time by filing Form 7004. Get automatic 6-month extension of time to file tax returns and pay your tax due on time to avoid late filing charges and penalties.
April 17 is the deadline for most taxpayers to file an extension and to pay taxes owed to avoid penalty and interest charges. If you file for an extension, your return is due October 15, 2018.