I have a question about the need to file extension. Should I request a tax filing extension — I’m not sure I’ll finish my return before the deadline.
Yes, to avoid missing tax deadline, you can file extension by April 17, 2018. If you’d owe taxes on your regular return, you should submit a payment with your Form 4868 extension. The payment should be a reasonable estimate of the amount you owe.
If you file an extension without a payment of taxes owed, both of these will apply:
- You won’t be subject to the failure to file penalty.
- The IRS will begin to charge interest on the amount owed.
It is only necessary to request extension if you owe tax. If you’re due a refund, you have three years to file and there’s no need to extend the deadline.
You are considered insolvent if you owe more than the value of your assets. This can be important if you received IRS Form 1099-C, Cancellation of Debt.
Learn more about notice CP162, why you received the notice, and your options to address an IRS penalty with help from the tax experts at H&R Block.
All or a portion of your tax refund was taken to pay non-tax debt. Learn more about IRS letter 3179C from the tax experts at H&R Block.
If it is determined that you have seriously delinquent tax debt, your passport application may be denied. Learn more from the tax experts at H&R Block.