When should I file for an extension if I need more time.

Tax_questionA) 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:

  1. 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.
  2. 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.
  3. 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.

According the the IRS: U.S. citizens and resident aliens who file calendar year returns are required to file a tax return by April 15.  However, taxpayers who are overseas on the due date receive an automatic extension of two months (generally until June 15 for calendar year filers).  If the last date for filing falls on a Saturday, Sunday or legal holiday, the return must be filed by the next day which is not a Saturday, Sunday or legal holiday.  For your 2013 return to be considered timely filed, it must be postmarked by June 16, 2014.  A tax return delivered by U.S. mail or a designated delivery service that is postmarked or dated by the delivery service on or before the due date is considered to have been filed.  Keep your proof of international postage.  You may want to consider using a designated delivery service to ensure the delivery of your international correspondence.

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