What is an Individual Tax Extension?
If you are worried you will not get your tax return done on time, you have come to the right place.
There is a way for you to get more time to finish your tax return and you can do this by submitting
Form 4868 to the IRS by the date your taxes are normally filed
Tax2efile offers a very easy, quick, and affordable way for you to submit this form electronically.
What does Form 4868 do?
Form 4868 serves as a formal application for a tax filing extension
of up to six months. Notably, this extension is typically granted without the necessity of providing
a specific reason, except in cases where a court order mandates timely submission. If you are a
April 18th filer, you will get until October 15th to finish your taxes. If you are not in the
country at the time of the tax season, you automatically get a 2 Month reprieve, without even
filling out the Form 4868. Then if the 2 Months are not enough you can then fill out Form 4868 and
check box 8 for being out of the country, this will get you 4 more Months to turn in your tax return 1040.
What if I do not fill out Form 4868 and I am late?
If you choose not to fill out Form 4868 and miss the deadline for your tax return, the IRS will
start charging you interest immediately. You may also be charged with a failure to file penalty,
which is over 5% a Month all the way up to 25% of your tax bill. If you do not file within 60 days
of the due date, you will be automatically fined $135 above the other charges. So, if you are not
ready to turn in your tax return, filing Form 4868 is the best choice to avoid all the late charges.
However, just because you can file your actual return late does not mean you can pay the tax owed
late as well. There is no extension in paying the taxes, for this form you must estimate taxes that
need be paid, then pay them or you will be fined. You need to be able to provide a good estimate
based on basic numbers you have so as not to be far off when you file your real tax form. You will
get a penalty if the numbers are not close to matching on your real IRS 1040 Form.
Tax2efile can help you in every step of filling out and filing Form 4868. We
are an official E-File provider approved by the IRS to give you 6
more Months extension. You do not need to worry about anything because after Tax2efile files your
return you will get conformation immediately, through email that your extension has been approved.