Tax Planning What You Need to Know About Filing an Extension Read the Article Open Share Drawer Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)Click to print (Opens in new window) Written by Ginita Wall Published Apr 16, 2016 2 min read If you haven’t filed your tax return yet, you are not alone! Many people delay filing for a number of reasons: missing some key paperwork, negotiating filing status with an estranged spouse, or just plain don’t have the time to get their taxes together. If you really need extra time to prepare your tax return, you can file an extension free with TurboTax Easy Extension by the tax deadline of Monday, April 18, to request an extension until October 17 to avoid nasty 5%-per-month tax penalties for late filing. With TurboTax Easy Extension, you will receive a confirmation from the IRS when your extension is accepted. Remember: filing an extension gives you extra time to file, but it doesn’t give you extra time to pay, so it isn’t a solution if you can’t pay your tax bill. You’ll still face penalties for not paying on time as well as interest on the balance due. The best thing to do is file your taxes by the tax deadline if you can, and if you can’t, pay as much of your taxes owed by the tax deadline deadline, even if you are filing for a tax extension to file until October 17. If you pay at least 90% of your tax by the April 18th tax deadline, you won’t have to pay a penalty for failure to pay the remaining balance, as long as your taxes are paid in full by the extended due date. Some people automatically are given extensions. If you live and work abroad, you have an automatic two month extension to file, though your tax payment is still due April 18th this year. If you are serving in a combat zone, you have until 180 days after you leave the combat zone to file and pay your taxes. If you still need to file your taxes, don’t worry. You have a few extra days, and TurboTax is here to help you effortlessly file your taxes. Previous Post The Saver’s Credit Explained: Tips and Info You Need to… Next Post Six Ways to Reduce Your Taxable Income Written by Ginita Wall More from Ginita Wall Leave a ReplyCancel reply Browse Related Articles Tax News Intuit TurboTax April Report: A Look at Refunds and S… Tax Planning April 15 is the Tax Deadline: 6 Things You Need to Know… Tax Planning Unable to Pay Your Tax Bill? Here’s What To Do Tax Tips Tax Credits 101: What They Are & How They Work Business How to Know if You Should Invest in Business Insurance Tax Deductions and Credits What Is the Standard Tax Deduction for 2023 – 202… 401K, IRA, Stocks Should You Use Your 401(k) or Retirement to Pay Off Deb… Tax Planning What Happens If You Don’t Pay Taxes? Understanding Pe… Tax Deductions and Credits Family Taxes: Take Advantage of Tax Savings Taxes 101 How Much Do You Have to Make to File Taxes? Demystifyin…