{"id":494,"date":"2019-01-24T11:03:32","date_gmt":"2019-01-24T11:03:32","guid":{"rendered":"https:\/\/www.etax4868.com\/blog\/?p=119"},"modified":"2023-06-06T11:59:59","modified_gmt":"2023-06-06T11:59:59","slug":"need-to-know-about-filing-4868-income-tax-extension","status":"publish","type":"post","link":"https:\/\/www.tax2efile.com\/blog\/need-to-know-about-filing-4868-income-tax-extension\/","title":{"rendered":"You Need To Know About Filing an Income Tax Extension"},"content":{"rendered":"

Summer has started and people are yet to file their annual tax returns with just a month\u2019s time in hand. In this busy schedule of their life, they wouldn\u2019t be ready to file their returns within this month. Taking all these considerations, IRS has introduced something new where all the taxpayers can request the IRS to increase the timeline at their convenience. Having said that, there are a lot of things that you have to consider before extending the timeline.<\/span><\/p>\n

There is a form named Form 4868<\/a> which is known as Application for Automatic Extension of Time in order to file the U.S. Individual annual income tax return that actually extends the deadline to about 6 months from the actual deadline. You can submit it in the IRS office or online depending on your convenience. Just to note that this extension is to file your annual tax return and not an extension for paying your taxes that are due for the year. When you are submitting this Tax Form 4868 to IRS, remember to add any other taxes that are due in order to avoid any conflicts of interest or penalties including the late fees, otherwise, all these will be included when you are filing your returns.<\/span><\/p>\n

Tax Form 4868 states the term \u201cAutomatic Extension\u201d which basically means that you are submitting this form to the IRS in lieu of your tax returns by the deadline set by the authorities of the IRS. Upon submission, IRS will initiate the process of extension automatically and will give you the revised timeline to file your returns. You need not have to take any further action upon submitting this form. The extension that you are filing is a period of good six months giving you enough time frame to file your tax return without any hassle.<\/span><\/p>\n

It is always advisable to take action as soon as possible in order to avoid any penalties or interest charges imposed on your returns. There is always a deadline restricting you to submit the return within that time frame, so it is required for you to be aware of any kind of personal situation so as to determine the time you require in terms of extension. If you already realized that within the assigned deadline you would not be able to file the return, you can submit the 4868 Tax form in advance to notify the IRS that you are asking for a new deadline to file your deadline. There are three ways to file this extension:<\/span><\/p>\n