Understanding Personal Tax Extension Form 4868
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If you find yourself in a situation where you might not be able to file your federal tax return (Form 1040) by April deadline, then you need to go for the 1040 extension to avoid any kind of late filing or late payment penalties.
By filing Form 4868 (i.e. the 1040 extension form), you can get a six-months extension to file your 1040 returns which is due by Oct 15.
Keep in mind that your extension will only push your due date for filing your 1040 return. It won’t provide any extra time to pay the taxes that you owe. If you feel that you owe any money to the IRS this year, you need to estimate it after filing the extension and make the payment by
April 15.Who Needs To File 1040 Extension?
1040 Extension form is used by those individuals who want to get an automatic extension of time to file their income tax return. If individuals can’t file their federal income tax form 1040 before the due date, they can get an automatic 6-month extension by filing Form 4868.
I Cannot Pay My Taxes In Full. Can I Make A Part Payment?
If you can't pay the entire amount of taxes that you owe, you still need to file your return before the deadline and pay as much as you can, to avoid paying interest and penalties.
Of course if you are making a part payment, you will still be charged the late payment penalty on the unpaid tax from the regular due date of
your return.Missed The Deadline For Filing An Extension.
What Should I Do?
If you owe taxes and haven’t made any payment by the due date, you might incur interest and penalties based on the amount that you owe to the IRS. It is imperative that you file your tax return as soon as possible even if the due date has passed, along with the
penalties and interest.Can I File Extension Form 4868 For
My State?Yes, you can file a 1040 extension online for your state. It is mandatory by the IRS to E-file Form 4868 to get a tax extension, however, each state has its own procedures for getting similar extensions.
For example in certain states like California, it provides an automatic extension to taxpayers while in other states, you need to file specific forms required by the state before the original
due date of the return.Information Required to File Form 4868
- Personal Details such as Full name, Address, & SSN.
- If you're filing jointly, you'll need the same information for your spouse.
- Total tax liability & Payment for 2021.
- Balance due if any.
What Should I Do If My Tax Extension Was Rejected?
If your personal tax extension form was rejected, you have the opportunity to resubmit the form after rectifying the errors. However, if the particular cause for the rejection isn't rectified, the only option is to fill and print the 1040 Extension form and mail it directly to the IRS.
For example in certain states like California, it provides an automatic extension to taxpayers while in other states, you need to file specific forms required by the state before the original due date of the return.
If it was rejected and is now past the April deadline
If you filed the extension before the deadline but it ended up getting rejected on or after the due date, then don't worry. IRS provides a window which is about five days within which the issues must be fixed and then e-filed again. If the date has passed, then the filer must proceed with the paper return.
Helpful Resources to file form 4868 online
What is Form 4868?
Learn moreForm 4868 Filing Instructions
Learn moreForm 4868 Mailing Address
Learn moreHelpful Videos to E-file Form 4868
E-file your Form 4868 and extend your 1040 filing deadline to 6 months
Recently Asked Questions
- When is the due date to file my Form 4868?
- [E-file Error Code F4868-001-02] How do I resolve it?
- [E-File Error Code F4868-002-01] How do I resolve it?
- What if I am an “Out-of-the-Country” tax filer filing Form 4868?
- What payment options do I see while e-filing 4868?
- Once my extension is approved, how can I find my extended date?