A) If you need more time to file your federal income tax return, you can request an extension from the Internal Revenue Service (IRS). The deadline to file your tax return is usually April 15th, but if you request an extension, you will have an additional six months to file your return. Here’s what you need to know about filing for an extension:
- Deadline to file: The deadline to file for an extension is usually April 15th, the same day your tax return is due. This means you will need to submit your extension request by this date to avoid late filing penalties.
- How to request an extension: You can request an extension by filing Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. You can file this form electronically or by mail.
- Additional time to file: If your extension request is approved, you will have an additional six months to file your tax return. This means your new deadline will be October 15th.
It’s important to note that an extension to file your tax return does not extend the deadline to pay any taxes owed. You will still need to estimate your tax liability and pay any taxes owed by April 15th to avoid late payment penalties and interest. If you cannot pay the full amount owed, you can still request an extension to file and pay, but you may be subject to penalties and interest on the unpaid balance.