Late Again? Here's How To Request A Tax Extension

Img

Panic Scared Falling

It may be cute to make a date wait while you primp, but tardiness comes with heavy penalties when you're answering to the IRS.

The deadline for filing your 2011 tax return is April 17 and telling the IRS your car broke down isn't a valid excuse.

In a real mess? Don't flip out if you can't file your return on time; just file an extension to avoid big trouble.

Here's the big thing to keep in mind about extensions: they only buy you time to file your return, but they don't allow for additional time to pay taxes owed. So, if you won't be filing your return by the 17th but know that you have to pay taxes, you need to pay at least 90 percent of the total amount due by the April deadline to avoid penalties.

Asking for an extension will give you six additional months to complete and file your tax return.

From IRS' website:

Taxpayers who need extra time to file their federal returns this year can file the Form 4868 request for an automatic extension through IRS Free File. The extension gives you an additional six months, until Oct. 17, to file the tax return.Taxpayers can file the request for extension with traditional Free File or Free File Fillable Forms. Using Free File to prepare and electronically submit Form 4868 is free to everyone.

See? You are gonna be just fine. Now exhale.

Now see 9 ways to spot a tax preparer scam > 

Please follow Your Money on Twitter and Facebook.

Join the conversation about this story »

See Also:



Img Tags.bluekaiInsight.adsrvr
Feeds.feedburner
read full article

Latest ArticlesMost Read Articles

Find Joysco Studio On Facebook


28 February 2012
Be Inspired: The Life of Heavy D (Documentary) FT. QUEEN LATIFAH AND MORE NARRATED BY...
10 July 2014
Pixel[This is an advertorial. Maclife gets a portion of each unit sold.]The iPhone has become a capable...
10 July 2014
Factory Outlet Ebay Store 620pxIf you're in the market for a deal on an Apple Certified Refurbished unlocked iPhone 5 complete with a...
10 July 2014
FindmyiphoneApple has been attempting to distance itself from Google for some time now, and the latest service...
10 July 2014
IphoneAs hard as may be to believe in these days of rampant iPhone thefts, sometimes lost iPhones make their...
10 July 2014
Mal93.rev Dragon.dragon02Thanks to Siri, we’re all getting familiar with voice recognition. Where the technology really comes...
07 July 2014
Airport Security Checkpoint 620pxOur fellow Americans: Welcome back from a three-day weekend of barbecues and fireworks! July is...
07 July 2014
Other 1Whenever you plug an iPhone or iPad into a Mac and check its data storage in iTunes, a chunk of space is...
07 July 2014
We've heard a lot about how strong the rumored sapphire crystal screens for the iPhone 6 supposedly are,...
29 May 2014
ClassicQuietly, and almost without notice, a chapter in Apple's history may have started to close today. As...