Form 4868 Instructions | IRS e-File Extension

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Form 4868 Instructions

If you are looking for instructions for Form 4868, which is the form people use to file an extension for their tax return, you have come to the right place. We will go overall you need to know about filing your Form 4868.

How do I file the Form 4868 for an Extension?

You can use the Form 4868 to file for the following IRS forms; Form 1040, 1040-A, 1040-NR or the 1040NR-EZ. Taxpayers must still pay the estimated tax provided on the Form 4868 or will face high interest rates and maybe even penalties. You need to file your Form 4868 depending on when your original tax returns are due. For most people, this date will be April 18th. For those of you who follow a fiscal year calendar for taxes may have a different date. If your tax date is April 18th and you file a Form 4868, you will need to file your Form 1040 by October 15th. If you live outside the country, your main place of work is outside the United States or Puerto Rico. If you are in the military stationed outside the United States, you automatically get 2 more Months to file your taxes without the Form 4868. If you need longer than the 2 Months given, you then would have to fill out the Form 4868 the same way as everyone else; this will then give you 4 more Months to file your 1040.

What else do I need to know about Form 4868?

When you file your Form 4868, you need to remember to pay the estimated tax due. Just because you get 6-Month extension from filing your tax forms, that does not mean that your tax due date was pushed back as well. If you do not pay your total tax on the original due date you will be charged interest on the amount you owe and it does not matter what the reason is you did not pay, you will still be charged. When using the Form 4868, the late penalty fee can vary from 1/2% to 1% of any tax still owed that is not paid by May 17th. This charge will be added to the total owed each month, on top of interest that is accrued. The maximum charge you can be charged for being late is 25% of the total tax bill. If you think you have a just cause for being late, you can attach a letter explaining why you should be excused from paying the penalty to the actual Form 1040 when you file. You can file your return whenever you are finished with it, within the given time frame. If you finish it earlier than the 6-Month deadline, that is great! If you do not send your return on time you will then be subject to a late filing penalty, which is 5% of the amount due each month.

Remember to make sure that your name and address are correct and if you have changed your name recently(marriage) you need to let the IRS know that before filing this. You are able to round up or down to whole cents on your estimate of tax on the Form 4868.