As long as you complete Form 4868 and transmit it to the IRS by April 18th at midnight your extension will be approved almost instantly, then you will have until October 16th to file your return.
IRS Form 4868 provides an automatic 6-month extension for:
– IRS Forms 1040, 1040A, 1040-EZ, 1040NR, 1040NR-EZ, 1040-PR, and 1040-SS.
– 1099 Contractors
– Single Members LLCs
– Schedule C Sole Proprietors
Note: IRS 4868 doesn’t extend the amount of time you have to pay any taxes owed, only to file them. Any payment owed to the IRS must be made by the original tax deadline.
Filing for an extension is a good way to get more time, but it’s an even better way to avoid IRS penalties for filing late.
The late filing penalty is 5% of the unpaid tax for each month and part of the month that your return is late, and this includes up to 25% of your unpaid tax. Once your return is more than 60 days late the minimum penalty is $135 or 100% of your unpaid tax, depending on which is smaller.
How To E-File IRS Form 4868
The e-filing process is incredibly easy, you will have your form completed in no time, so you can relax with 6 extra months to file your return.
First gather all the materials necessary to complete Form 4868, which include your full name, address, and social security number. If you’re filing jointly then you will need to provide that information for your spouse as well.
Then create your free ExpressExtension account, click ‘Create Personal Tax Extension’ from the dashboard, and verify if you’re filing individually or jointly before entering your primary taxpayer information.
Skip ahead to the next step if you don’t owe the IRS any taxes. Otherwise provide your total tax liability amount, total payments you’ve made during the year, the balance you owe to the IRS, and the amount you will pay to the IRS.
Next, you’ll be presented with a summary of your information to check for any typos, and we will perform an audit check to catch any mistakes. Once any errors have been corrected you can pay for your form and transmit it to the IRS.
Yes, the process is really that easy. After transmitting your form to the IRS you will be notified when your extension has been approved. You can also check your dashboard for live status updates to see when your form reaches the IRS and when it gets approved.
We’re Here To Answer Your Questions
Taxes can be confusing, that’s why the outstanding ExpressExtension support team is here to help. Contact us with any questions that you may have Monday – Friday 9 AM to 6 PM EST at 803.514.5155. You can also reach us via live chat and through our 24/7 email support at [email protected]. Extra support hours are offered during deadline days.