IRS Form 4868: A Step-by-Step Guide to Filing an IRS Tax Extension

It’s that time of year again! And as the tax deadline approaches, many people find themselves scrambling to gather necessary documents, track down missing W-2s, and complete their tax returns on time. But what if you need just a little more time to get everything in order?

Fortunately, the IRS offers a six-month extension for individuals and businesses that need it with Form 4868. Filing an IRS tax extension with Form 4868 is a relatively straightforward process, but it’s essential to understand the rules and deadlines involved. In this article, we’ll walk you through the ins and outs of filing an IRS tax extension and answer some of the most common questions people ask.

Key Takeaways

1. Filing an IRS tax extension gives you an automatic six-month extension to file your tax return.
2. You still need to estimate and pay any taxes you owe by the original tax deadline to avoid late fees and penalties.
3. Filing an extension only pushes back the due date for filing your tax return, not the deadline for paying any taxes you owe.
4. Missing the tax extension deadline can result in penalties and interest charges.

What is an IRS Tax Extension?

An IRS tax extension is a formal request to the Internal Revenue Service (IRS) to extend the deadline for filing your tax return. This can be a helpful option if you’re self-employed or are dealing with other extenuating circumstances that make it impossible to file your taxes on time. If you were affected by a natural disaster in a federally declared disaster, check to see if your state has an extension. 

Am I Eligible for an IRS Tax Extension?

Most taxpayers can file a Form 4868 to request an automatic six-month tax filing extension. 

Certain situations may qualify you for a different extension without having to file a Form 4868:

• You are a U.S. citizen or resident who is living or conducting business outside the United States.
• You are a member of the U.S. military or naval service on duty serving outside the United States.
• You are an individual or business affected by a natural disaster, such as a hurricane or wildfire, and the IRS has declared your area a federal disaster zone.

How Do I File an IRS Tax Extension?

Filing an IRS tax extension is a relatively straightforward process that can be done online, by phone, or by mail. Here are the steps:

Option 1: E-File Your Federal Tax Extension

Using TurboTax Easy Extension:

1. E-file your federal extension by April 15.
2. Make a payment of any tax due directly from your checking or savings account.
3. Wait for confirmation that your extension has been accepted by the IRS.

Option 2: Print and Mail Your Extension

Prepare your own extension:

1. Download and complete Form 4868: You can download and print Form 4868 from the IRS website or pick up a copy at your local IRS office.
2. Fill out the form: Carefully complete the form, making sure to sign and date it.
3. Attach any required documentation: If you’re making a payment with your extension, include a check or money order made payable to the “United States Treasury.”
4. Mail your extension: Address the envelope to the IRS address listed on the instructions for your state.

What If I Owe Taxes?

If you think you’ll owe taxes when you file your return, you still need to estimate the amount and make a payment by the original tax deadline, typically April 15, to avoid late fees and penalties.

Can I File an IRS Tax Extension Online for Free?

Yes, filing a federal tax extension is free and automatic once you file Form 4868.

How do I Get a State Tax Extension? 

State tax extension guidelines vary from state to state. To see detailed information about state extension filing deadlines and mailing addresses, select your state of interest from this state tax authority’s website.

TurboTax Easy Extension can help get the tax forms you need to file your state extension by mail.

What Happens If I Miss the Tax Extension Deadline?

If you miss the tax extension deadline, you may be subject to penalties and interest charges. The IRS may also send you a notice of the amount you owe, including any additional fees.

Don’t Let Tax Season Stress You Out – File an IRS Tax Extension Today

If you’re running behind on your taxes and need a little more time to get everything in order, don’t panic. Filing an IRS tax extension is a relatively straightforward process that can give you the breathing room you need to avoid late fees and penalties. With TurboTax, you can e-file your extension online in minutes and get back to what matters most to you.