If you’re stressing out and at wits end trying to pull everything together to get your taxes filed on time, don’t worry. Just like any other year you can file a tax extension to get give you extra time to get your taxes done.
How long will filing for an extension on your taxes give you to do your taxes?
If you file for an extension you’ll have until October 15th, 2012 to file your tax return.
How do you file a 2011 IRS Extension form?
First of all, don’t pay anyone to file your extension for you. The IRS provides free file and everyone is eligible for it.
Let Free File do the hard work for you with brand-name software or online Fillable Forms. You can prepare and e-file your federal return for free. Participating software companies make their products available through the IRS. Some also support state tax returns.
Filing an extension requires Form 4868.
You can file the Form 4868 IRS Extension for free using available software like Turbo Tax, TaxACT, H&R Block 2011 Tax software which will all help you submit your tax extension for free using E-File. If you’re going to be using software mentioned above make sure you purchase downloadable copies & not CD-ROM versions. If you purchase the downloadable Tax Software for 2011 you’ll be able to start within minutes and will be able to file for 4868 Tax Extension form free tonight.
Another way to do this for your federal filing without software is to use the IRS Free Fillable forms. The one catch with using the IRS Free Federal Online filing is that it doesn’t include your state return and you’ll want to take care of that as well. However if you’d like to use them free fillable forms just go here and you’ll be ready to go.
Please don’t stress out for Tax Day at this point though. Tax Day 2012 can be extended now for free by using using Free File to prepare and electronically submit Form 4868 which is free to everyone.
Taxpayers can use paid preparers or purchased software to electronically file Form 4868. A paper version is also available for download from the IRS Web site, IRS.gov at this link. However, you will only receive an acknowledgement that the IRS received your request, if you e-file or Free File the request.
One thing you must remember if you want to file an extension for your tax filing in 2012 is that you can extend your time to file but not to pay. The IRS lists this information on their site to remind you about payments and other information:
“An extension of time to file is not an extension of time to pay. You need to estimate your tax liability and pay any balance due when you request the extension. Several payment options are available, including electronic funds withdrawal, credit card and check.
If you are unable to pay the total balance due, you should pay as much as possible and then contact the IRS about an installment plan. Even if you cannot pay the balance due, it is important to either file a return or request an extension to avoid the failure-to-file penalty.”
Hey we get it who wants to read a bunch of stuff to figure out how to file your taxes? We’ve provided a lot of the top videos explaining how to file your tax extensions so that you can click play and sit back and figure it out. Good luck!
A video from the IRS about filing your taxes for free:
How to File an Extension for Income Taxes
The form 4868 is used to request an extension on income taxes, and it has to be filed by the due date, which is typically April 15. Find out how a person is still liable for interest and penalties if they file for an extension with help from a tax bookkeeper in this free video on filing extensions for taxes.
Expert: Ken Lewellyn
Bio: Ken Lewellyn is co-founder of Tennessee Business Service, Inc.
Filmmaker: Dimitri LaBarge
What are Tax Extensions – TurboTax Tax Tip Video
Tax extensions are available to anyone who needs extra time to file, but it does not apply to payment deadlines. Submit the proper forms before April 15th to get a filing extension with help from TurboTax in this video on annual tax filing.
How To Get an Extension on Your Tax Return
Tax deadline sneak up on you? Filing for an extension is easy, and you don’t even have to give a reason.
To complete this How-To you will need:
Form 1040 (or 1040A, EZ, NR or NR-EZ)
Your earnings statements
A post office, public library, or tax office
An application that can view PDF files
Step 1: Understand your extension
First off, let’s get this straight—filing for an extension means you have an extra six months to file your paperwork, not extra time to pay your taxes. Failure to pay the taxes you owe by April 15 will result in interest and penalties.
Tip: If you live and work outside of the U.S. and Puerto Rico, you automatically have two extra months to file your return and pay any taxes.
Step 2: Get the form
Get a copy of Form 4868—the Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. You can find it at most post offices, public libraries, and tax offices. Or you can download it from www.irs.gov.
Tip: To download, open, and print the form, you’ll need a printer and an application that can view PDF files, like Preview (on a Mac) or Adobe Reader (available at www.adobe.com).
Step 3: Complete Form 4868
Complete Form 4868 according to its instructions.
Step 4: Pay up
Write a check to the Internal Revenue Service for any taxes owed.
Step 5: Mail the form
Mail Form 4868, along with any payment due, by April 15.
Tip: Form 4868 can be filled out and submitted electronically at www.irs.gov. You can also pay any taxes you owe online or by telephone.
Step 6: File your return
File your tax return by October 15. There—now was that so hard?
Tax Tip Series: Last-Minute Tax Tips and Extensions
With the April 17, 2012 tax filing deadline rapidly approaching, there are many potential errors that taxpayers should watch for. To start, brokerage firms have been issuing corrected 1099-Bs, which contain cost basis information on stocks purchased and sold in 2011. Other areas of concern include 1099-Ks issued to small-businesses and sole proprietors receiving credit card payments during the year; Form 1098 for mortgage interest, and forgetting to pay the annual installment if you received a 2008 homebuyer credit.
With so many areas to double check, if you cannot get your return completed on time, you can file for a six-month extension. However, an extension does NOT extend the time to pay any tax due. If you do not wish to incur late penalties, talk with your tax adviser to estimate the amount due, which you then pay when filing your extension.