Why should I File an Extension For Personal Tax Return: Form 4868

April 15, 2013 is deadline for income tax return, but there’s no way your tax return done by then. What’s a procrastinator to do? File an extension, of course. You can E-File Form 4868 in just minutes at ExpressExtension.

You can automatically extend the April 15th due date to October 15th by filing Form 4868, “Application for Automatic Extension of Time to File U.S. Individual Income Tax Return,” giving you six more months to file your personal income tax return.

Filing Form 4868 grants you an automatic, no-questions-asked 6-month extension. You don’t have to give a reason. Just sending this form to the IRS on or before April 15 gets you the extra six months.

The Form 4868 6-month extension is NOT an extension to pay any tax you may owe on the tax return. Form 4868 only grants an extension of time to file the tax return.

If you usually get a refund on your personal tax return, you are OK. But if you have a balance due, or if you are not sure, then you should go ahead and prepare the return to the best of your ability, do the calculations, and send in your balance due with Form 4868. That way you avoid any penalty and interest for late payment of tax.

When October 15th rolls around, you send in the return, showing the Form 4868 payment as a credit. The end result is this: you paid your tax on time (April 15), and you filed your tax return legally late (October 15) because you filed the extension form on time.

If you have a balance due, but don’t send in the payment with Form 4868, then you will have penalty and interest charges for paying the tax after April 15.

Bottom line: Do not overlook the fact that Form 4868 does not grant you an extension of time to pay the tax. It only gives you an extension of time to file the return.

If you have any questions about filing Tax Extensions, you can call, email or chat online with the Express Tax Support Center in Rock Hill, SC at 803-514-5155 between the hours of 8am – 6pm EST, Monday through Friday or email [email protected].

Add a Comment

Your email address will not be published. Required fields are marked *