If April 18th is drawing near and you are not ready to file your income taxes then you can file for an individual income tax extension. Filing for an extension will give you up to six months to complete your tax paperwork and file it with the IRS. There are several rules and regulations about filing for an income tax extension. Here are the steps and rules for filing for an individual income tax extension.
Find the Proper IRS Form - To file for an extension on your income taxes you must complete IRS Form 4868 and send it in by April 15th. This form applies to anyone who will be filing their taxes with forms 1040, 1040A, 1040EZ, 1040NR or 1040NR-EZ. You can download Form 4868 from the IRS.gov website or get a copy of the form from your local IRS office. If you are having a tax professional do your taxes, they will be able to either give you a copy of the form or file the form for you. Below is a link to Form 4868.
Find the Proper IRS Form - To file for an extension on your income taxes you must complete IRS Form 4868 and send it in by April 15th. This form applies to anyone who will be filing their taxes with forms 1040, 1040A, 1040EZ, 1040NR or 1040NR-EZ. You can download Form 4868 from the IRS.gov website or get a copy of the form from your local IRS office. If you are having a tax professional do your taxes, they will be able to either give you a copy of the form or file the form for you. Below is a link to Form 4868.
File the Form Early - Even though you have until April 18th to file for an extension you still should try to file early. While in most cases extensions are approved, in case it is denied you will still need time to figure and file your taxes. Even if you expect to receive a tax refund you must file for an extension if you are not ready to complete your tax return.
Send in Your Tax Extension Form - Once you have filled out the income tax extension form you have several choices on how to send it in. You can E-File the form through IRS.gov, have your tax preparer E-File it for you or mail it to the IRS.
Send in Your Tax Extension Form - Once you have filled out the income tax extension form you have several choices on how to send it in. You can E-File the form through IRS.gov, have your tax preparer E-File it for you or mail it to the IRS.
Start Working on Your Tax Return - Once your extension has been approved you have until the stated extension date (generally 6 months) to file your income tax return. If you file past the extension date you will be assessed with late charges and penalties, so the sooner you complete your tax return and submit it, the better.
