As tax season approaches, many individuals may find themselves needing more time to file their taxes. The IRS understands that life can get busy, which is why they offer Form 4868. This form allows taxpayers to request an automatic extension of time to file their tax return. By filling out this form, individuals can avoid late filing penalties and give themselves an additional six months to gather all necessary documents and information.
It’s important to note that Form 4868 only extends the time to file your tax return, not the time to pay any taxes owed. If you anticipate owing taxes, it’s recommended to estimate the amount and pay it with your extension request to avoid interest and penalties.
Printable Irs Tax Form 4868
When filling out Form 4868, taxpayers will need to provide basic information such as their name, address, social security number, and estimated tax liability. The form can be submitted electronically or by mail, and individuals should keep a copy for their records.
Once the extension is approved, taxpayers will have until October 15th to file their tax return. It’s important to note that while an extension grants more time to file, it does not extend the deadline for certain tax-related actions such as making contributions to a retirement account or Health Savings Account.
Overall, Form 4868 can be a helpful tool for individuals who need more time to file their taxes. By submitting this form, taxpayers can avoid late filing penalties and ensure that they have ample time to complete their return accurately. Remember to file your extension request before the original tax deadline to avoid any unnecessary fees.