Mail Your Tax Payment With Form 4868
Do you owe taxes to the IRS, but aren’t ready to file your return? You might think that it’s OK to pay your tax bill on time, but then file your return a few days later. Unfortunately, paying on time but filing the actual return late can set you up for unnecessary penalties. That’s where Form 4868 comes in.
To avoid IRS penalties, you should file Form 4868: Application for Automatic Extension of Time to file U.S. Individual Income Tax Return, which gives you an automatic six-month tax filing extension. By filing IRS Form 4868 by the tax due date, you give yourself additional months to collect all your tax documentation and complete your return without the additional financial consequences for filing late.
IRS Form 4868, Application for Automatic Extension of Time to File
You have two options to submit your IRS Form 4868. You can:
- Mail in the paper IRS Form 4868. You should include your tax payment in the same envelope and mail it to the address outlined in the form instructions.
- Send IRS Form 4868 electronically through IRS e-file. You can pay your tax balance by electronic funds withdrawal or by money order.
H&R Block Online products provide you a simple way to e-file your extension with Form 4868. Keep in mind, filing an extension gives you more time to file your return, but it doesn’t give you more time to pay your taxes. By including your payment with Form 4868, you ensure that the IRS properly credits your account and reduce the likelihood of incurring a late payment penalty and interest.
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.
Not sure how to pay your taxes? The IRS offers several ways to pay taxes -- check, credit card, and even an extension to pay or a payment plan. Learn more.
Read the IRS definition of IRS appeals, and get more insight from H&R Block about the two major types of IRS appeals: within the IRS and in the courts.
Don't confuse the IRS and make your situation worse by filing an amended return when you shouldn't. Learn more from the tax experts at H&R Block.