Can I Get An Extension From The IRS To Filing My Tax Return ?
Yes.
Any taxpayer can apply for a 6 month extension to file their tax return. Being granted the extension
is nearly automatic. And, you don't need to give a reason.
VERY IMPORTANT
The extension only pushes back the date to file your paperwork. It does NOT extend the due date
for any taxes owed.
You'll have to estimate your tax liability, and then send the IRS a payment that at least covers what
you owe. For example, if you estimate your tax bill to be $600, you might want to send in $1,000 just
to be safe.
If you know you're getting a refund, you don't have to send any payment with your application for extension.
If your payment is too low, you will owe penalties and interest on the unpaid taxes. There is also the potential
for increased risk of audit in the future, once you've been flagged with tax penalties.
IRS Form 4868 "Application for Automatic Extension of Time To File U.S. Individual Income Tax Return" explains
the 3 ways to apply.
The quickest and easiest way to apply for an extension is to use the online process setup by tax preparation
software companies. You typically answer a few questions and then electronically send the application.
It takes only a few minutes.
If you use the electronic application process, you should receive an email confirmation that your extension
has been granted within a couple of days. Sometimes, the extension is approved in only a few hours.
When you're ready to file your tax return, use the same steps as though you had filed by the tax deadline.
If you overpaid from your estimate, you'll be due a refund.