If you do not have the ability of completing your income tax return within 15th April, there are some important tips that you can follow in trying to find out when and how to file for IRS tax extension. Prior to filing for IRS tax extension, it is necessary for you to ensure that the extension is perfect for you. Some common reasons behind pushing the deadline back are:
• You need more time for tracking down the tax documents which are missing.
• Your life has been very busy
• Some unexpected events have taken place in your life.
If you find that you will be unable to complete the federal tax returns within April, it becomes mandatory for you to file tax extension with IRS in order to avoid late payment and late filing penalties. If you file a tax extension, it will give you the flexibility of pushing your filing deadline back by six months which would be 15th October for you. It is necessary to have this in mind that the extension will just push back the original due date for filing the tax documents and it will not provide extra time for paying the taxes that you might be owing. If you are of the belief that you will be owing money during the year, it is necessary for you to come up with an estimate of the amount that you will be owing post filing the extension. The payments for the due amount need to be made within April deadline.
Filing Tax Extension- The Convenient Options that You can Choose
There are some convenient and easy options that you can choose in trying to file your tax extension and they are as follows:
Using an Online Service Provider
You always have the option of making the choice of an online website that can help you in filing the tax extension in no time at all. The website will help you in:
• E-filing the federal tax extension
• Making payment for due taxes directly from savings or checking account
• Printing the PDF copy of the tax extension that has been e-filed
• Receiving notifications regarding the acceptance of the tax extension
• Getting easy form 4868 instructions on filing state extension through mail
Printing and Mailing the Completed Tax extension Form
This is the second option that you can use for filing your tax extension. You can directly mail your tax extension to the IRS directly. For this, you need to print the form, complete it and then mail it to the address of the IRS in your state.
Using Credit Card for paying tax Amount Owed
In case you have mailed or e-filed form 4868 and you are required to make your payment through credit card, there are several Electronic payment Methods that you can use. However, it is important for you to choose a method that is approved by the IRS. The credit card can be used for making the payment for the tax amount either online or through phone.