Tax Tip: Not ready to file your taxes? You have options(WDAY TV) - In Your Tuesday Tax Tip: It's Tax day today! So what if you aren't even close to being ready to file your taxes by the midnight deadline tonight? You do have some options.
(WDAY TV) - In Your Tuesday Tax Tip: It's Tax day today! So what if you aren't even close to being ready to file your taxes by the midnight deadline tonight? You do have some options.
Most taxpayers can get a 6-month extension if the request is sent in no later than the date the return is due. That means today's midnight deadline would be pushed to October 15th.
All you have to do is log onto irs.gov and search for form 4868. If you think you'll be getting a refund, filing for an extension is as simple as filling out that form. You'll get a confirmation number for your records and you don't need to mail in a hard-copy.
If you're less web-friendly, you can do it the old fashioned way, complete and return a paper version to the appropriate address. It's on the form.
As the saying goes, time is money, especially when it comes to the IRS. Remember, this is an extension of the time to file your return, not of an extension of the time to pay.
If you suspect you owe, you need to send that amount in with your extension to avoid any interest, late fees or penalties. You can do that using your debit or credit card or through e-file.
If you do decide to file for that extension electronically, make sure you have a copy of last year's return nearby. You'll need to provide the adjusted gross income from your 20-10 return for taxpayer verification.