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Category: Extensions

Completing Form 4868 - Application for Automatic Extension

If you can't meet the mid-April deadline to file your tax return, you can get an automatic six-month extension of time to file your return from the IRS. The extension will give you extra time to get the paperwork in to the IRS, but it does not extend the time you have to pay any tax due. You will owe interest on any amounts not paid by the mid-April deadline, plus a late payment penalty if you have paid less than 90 percent of your total tax by that date.

All amounts that you enter on your Form 4868 should be the amounts that you expect to report on your Form 1040. They do not have to be the exact calculations, but they should be relatively accurate estimates.

  • Tax Liability: Enter the total tax liability you expect to report on your:
        • Form 1040, line 61.
        • Form 1040A, line 35.
        • Form 1040EZ, line 10.
  • Tax Payments: Do not include in "Tax Payments" any amount you plan to pay with your extension. Enter the total payments you expect to report on your:
        • Form 1040, line 72.
        • Form 1040A, line 41.
        • Form 1040EZ, 9.
  • Amount of Tax Payment: Enter here the total amount that you plan to pay with your extension. Your "Tax Liability" minus your "Tax Payments" would be the total "Balance Due" that you should be expecting. You can choose to pay that amount in full, in part, or you can choose not to pay any amount with your extension. If you do not pay the amount in full, you will owe interest on any amounts not paid by the mid-April deadline, plus a late payment penalty if you have paid less than 90 percent of your total tax by that date.