Tax extensions are very handy to some people. We are already at end of March and mid-April deadline is approaching a bit faster than you think. Let’s assume you don’t have all your paperwork together and can’t make it to the deadline, well you can choose to file for a tax extension. Don’t worry is easy, inexpensive, and gives you extra time to file your 2016 return.
The IRS allows six months for those who need the extra time to file taxes, so long as the extension form is submitted on or before the April 18 deadline. Normally, deadlines are normally April 15’s but this year it falls on a Saturday, and Washington D.C. will celebrate Emancipation Day on Monday, April 17 so deadline is April 18. Taxpayers who submit an extension form have until October 16 to review and submit their tax information.
If you owe taxes, there is no extending the payment deadline, only the filing deadline. If you owe money to the IRS and miss the deadline, you’ll have interest and penalties to face for not paying on time even if you filed for a tax extension. There are several options available to you for making tax payments. You can make payment with your extension via Electronic Funds Withdrawal (EFW). You can also mail in a check, or pay with a credit or debit card on approved payment websites. So, to wrap it off, you can extend the deadline to file your taxes to October 16, but any payments are still due April 18.
To file tax extension you have submit Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. Now, the State extensions are different in every state.
With April coming up faster than you think, it is easy to get overwhelmed with all the work that needs to be done. If you need more time, go ahead and file a tax extension with Rivas Empire while you still might have to pay taxes by April 18 if you owe, you can give yourself time to file your tax return at your own time.