If you’re unable to file your taxes by the April 15th deadline, the IRS offers taxpayers the option to request a federal tax extension. This will give you an additional six months to file your taxes, as well as provide some financial relief if you’re unable to pay your taxes in full. Here’s how to file for a federal tax extension.
It is easy to apply for Federal Tax Extension. Taxpayers can use the Free File service on the IRS website to file the form electronically, or they can print it out and mail it in. They will need to provide their name, address, Social Security Number, and estimated tax liability.
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The first step in filing for a federal tax extension is to file Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. This will give you an additional six months to file your taxes. Keep in mind, however, that this is only an extension of time to file, not an extension of time to pay. You’ll still be responsible for paying any taxes due by the April 15th deadline.
If you owe taxes, you’ll need to pay them by the April 15th deadline in order to avoid any penalties or interest. You can pay your taxes online using the IRS Direct Pay system, or you can mail your payment to the IRS. Make sure to include Form 4868 with your payment to let the IRS know that you’re requesting an extension.
Once you’ve filed Form 4868 and paid any taxes due, the IRS will process your extension request. You should receive a confirmation of your extension within a few days. You can also check the status of your extension request online by visiting the IRS website.
Conclusion
Filing for a federal tax extension can provide valuable relief if you’re unable to file your taxes by the April 15th deadline. All you need to do is file Form 4868 and pay any taxes due by the April 15th deadline, and the IRS will give you an additional six months to file your taxes. Keep in mind, however, that this is only an extension of time to file, not an extension of time to pay, so you’ll still be responsible for paying any taxes due by the April 15th deadline.