Taxes are due in less than a week.
Hopefully, most of us aren’t concerned, having filed days, weeks, or even months ago (overachievers).
But for those of us who still haven’t checked “taxes” off our to-do lists, it might be time to think about filing for an extension. Anyone can ask for one, and it’s rare that a request is denied.
A tax extension, which gives you six months after April 15 to submit your return, offers the benefit of additional time to get your paperwork together, but note that it is not a payment extension. You’re still expected to submit a payment by Tuesday — an estimate is acceptable. (If you can’t pay, you can apply for a payment plan through the IRS.)
To apply for a filing extension, you must complete Form 4868, which you can do in one of three ways:
Online. The IRS website provides both the e-File and Free File options to submit your form electronically, with a credit card or your bank account routing number.
By mail. You can find the form on the IRS website, print and fill it out, and send it through the mail.
Through a professional. If you’re working with a tax preparer, no doubt the idea of an extension has come up by now. Your preparer can file for you online or via snail mail.
And why would you ask for an extension? Because rushing to make the deadline could result in silly mistakes — and missing it altogether could lead to some serious fees.
For more information on filing for a return, visit the IRS website.