As the tax filing deadlines approach, taxpayers everywhere are busy filing their taxes at the last minute. If that sounds like you, or if you have a particularly complex tax return, the IRS allows taxpayers to apply for an extension of up to six months for free.
An extension, filed with Form 4868, gives you six more months to file, but not to pay your tax bill if you have one. The IRS still expects you to pay your taxes on time. For a more detailed explanation on what a tax extension is, who should file one, and how it affects your taxes, read Tax Extensions.
If you need the extra time for tax return preparation you should file an extension to avoid penalties. TaxSlayer can help you submit an extension to file quickly and easily.
First, create an account with TaxSlayer and start a new tax return or if you have already created an account, simply sign in and access your return for the current year. Next fill out your personal information for yourself, your spouse (if you are filing jointly), and any qualifying dependents you may have.
From the Main Menu, navigate to the Federal Section. This will expand another menu. Choose Miscellaneous Forms, and then the Application for Extension Form 4868.
TaxSlayer will ask you for some basic information. First, enter your tax liability, any amounts previously paid for the current tax year, such as quarterly payments and withholdings, and the payment amount you are sending with your extension.
When you are finished filling out Form 4868, you may file it electronically with TaxSlayer just as you would file a tax return. You should get an acknowledgment within 24-48 hours of filing to tell you whether the IRS has accepted or rejected your application for extension.
Pay your income taxes with your extension directly from your bank account with electronic withdrawal, by credit card, or by printing out the form and mailing a check or money order to the IRS.
For more information on filing an extension with TaxSlayer, read How Do I Complete My Federal Extension?