When you need extra time to finish your federal tax return, you can file for an extension of time to file with the IRS. It is free to file an extension, and you’ll get six more months to file your return.
TaxSlayer can help you submit an extension quickly and easily. Here’s how:
How to file an extension with TaxSlayer
Next, fill out your personal information for yourself, your spouse (if you are filing jointly), and any qualifying dependents you may have.
Select Federal on the main menu. Then, select Miscellaneous Forms from the options listed. Finally, select Form 4868 Application for Automatic Extension of Time to File.
You’ll be asked to provide the following information on your extension request form:
- Taxpayer name and address
- Taxpayer Social Security number (SSN)
- Spouse’s SSN (if filing as married)
- Estimated tax liability
- Total taxes paid, including quarterly payments, withholding taxes, and the payment amount you are sending with your extension
Once you have completed filling out Form 4868, you can file it electronically with TaxSlayer just like you would with a regular tax return. You should get an acknowledgment within 24-48 hours of whether the IRS has accepted or rejected your application for an extension.
Requesting an extension gives you an extra six months to file your tax return. The extended deadline is October 15th. If that day falls on a weekend or a federal holiday, the deadline may be extended to October 16th.
Note: You must file Form 4868 to request an extension on or before Tax Day to avoid late filing penalties.
Learn more: How to Complete Federal Extension Form 4868
How to pay your tax bill when you file an extension
Once you’ve filed your extension, you can pay your income taxes 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.
Requesting an extension extends your filing deadline, it does not extend your tax bill due date. You will still need to plan to pay your tax bill by April 15th to avoid interest and penalties.
Read also: What to Do If You Can’t Pay Your Tax Bill