Avoid IRS Penalties With Extension Form 4868

Whoa, is there a way to make time slow down? What do you mean there isn’t?! The Individual Income Tax Return Deadline is only a week away, on April 18th! If you aren’t ready to file your return what do you do? Failure to file results in penalties and fees!

Well, while it’s true, there isn’t a way to make time slow down, there is a way to get more time to file. Simply head to ExpressExtension to e-file Personal Tax Extension Form 4868.

Personal Tax Extension Form 4868

IRS Form 4868 might as well be considered a golden ticket because it’s the application for individual and joint taxpayers to receive an automatic 6-month extension to file their income tax returns. That’s right, it gives you 6 extra months to file.

Now because this form is automatic it means you don’t need to provide the IRS with a valid reason for needing an extension or your signature, all you need to do is complete IRS Form 4868 and transmit it the IRS by the April 18th deadline, then you’ll have until October 16th to file your return.

To be clear IRS Form 4868 provides a 6-month extension for IRS Form 1040, 1040A, 1040EZ, 1040NR, 1040NR-EZ, 1040-PR, and 1040-SS.

Also, IRS Form 4868 provides tax extensions for 1099 contractors, Single Member LLCs, and Schedule C Sole Proprietors.

Now keep in mind that IRS Form 4868 doesn’t extend the amount of time you have to pay your taxes, only to file them. Any amount owed to the IRS must be fully paid by the original tax deadline or you’ll run into some pesky IRS fees and penalties. 

There are a number of reasons for filing an extension, from simply needing a little more time to gather your information, or due to being out of town. However, the best reason is to avoid having to face failure to file penalties imposed by the IRS.

If you file late the penalty is 5% of the unpaid taxes for each month or part of the month that your return is late, and this includes up to 25% of your unpaid tax. If your return is more than 60 days late the minimum penalty is $135 or 100% of the unpaid tax, depending on which is smaller.

Luckily the e-filing process is incredibly quick and simple. All you need to file is your full name, address, and social security number. If filing jointly then you’ll need that information for your spouse as well. Then create your free account with ExpressExtension. 

Click “Create Personal Tax Extension” and select if you’re filing individually or jointly before entering your basic information. If you don’t owe any money to the IRS skip to the next step, otherwise you’ll be required to enter your tax liability amount, which can be calculated with our calculator, the total payments you have made throughout the year, the balance you owe to the IRS, and the amount you will pay to the IRS.

After that review your information for any mistakes, and you can select edit to change any of your information. We will also perform an audit check to catch any errors.

Then you will pay for your form and transmit it to the IRS, only to be notified that your extension has been approved via email in a matter of minutes. It’s as easy as 1, 2, 3!

We’re Here For You

Tax time comes with questions, that’s why our outstanding support team is standing by to help here at ExpressExtension. Contact us Monday – Friday from 9 AM to 6 PM EST at 803.514.5155. We also can be reached via live chat and offer 24/7 email support at [email protected].