Tax Tips & Calculators

If you need extra time to file your return, you can file Form 4868: Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. The IRS allows you to file an extension for an 6 extra months (until October 15) to file your return. You must file your extension by the regular tax deadline (usually April 15).

Estimated Tax Liability

Although the filing extension gives you more time to file your return, it doesn´t give you extra time to pay the taxes you owe. So you must estimate how much you owe and pay the amount due when you file Form 4868.

If you make a payment when you file Form 4868, include it in the "Payments" section of your Form 1040 when you file. If you don´t pay the full amount you owe, the IRS will charge you interest on the unpaid balance until you pay the full amount.

If you don´t pay at least 90% of the amount you owe, you might also be subject to a late payment penalty. The penalty is usually half of 1% of the amount owed for each month, up to a maximum of 25%.

If you don´t file either your return or Form 4868 by the filing deadline (April 15), you´ll be subject to a late filing penalty. The penalty is 5% of the amount you owe for each month, up to a maximum of 25%.

Special Rules for Those Abroad

You have 2 extra months to file your return and pay the amount due without requesting an extension if both of these apply:

• You´re a U.S. citizen or resident alien
• You´re out of the country on the due date (usually April 15),
  

"Out of the country" means either of these:

• You live outside the United States and Puerto Rico, and your main place of work is outside the United States and Puerto Rico.
• You´re in the military and serve outside the United States and Puerto Rico. Military personnel in a combat zone usually get even more time. If you qualify, you don´t have to file a form to request the additional time. However, you should include a statement with your return explaining why you qualify for the later deadline.

Most states allow an extension of the filing deadline. Check with your state for restrictions.

If you´re receiving a refund, the earlier you file, the earlier you´ll receive your refund.