How to File an Extension on Your Taxes

HOW TO FILE AN EXTENSION ON YOUR TAXES Created By: Monique Hall

NEED MORE TIME TO COMPLETE YOUR TAX RETURN?  The IRS gives taxpayers the option to request an extension, which gives you six additional months to file your tax return. You can request this extra time by filing for an extension with the IRS.  This guide will walk you through the steps to request more time if filing an extension is right for you.

FILE AN INCOME TAX EXTENSION ONLINE: IT’S FREE AND EASY  Filing an extension can be beneficial because it gives you additional time to properly file your return. In most cases, extensions are granted automatically when you apply. The form is short and easy to fill out.  It’s also free to file an extension. Simply fill out Form 4868 (PDF link). You can print it out and send in yourself, or you can apply for an extension right here on our site. Click the button below to get started. Or keep reading to learn more about the reasons it might make sense to file an extension.

 While the IRS will not deny your right to file for an extension, it’s important to make sure you have a valid reason before you do. The best thing is to file your tax returns on time, but that’s not always possible.  Here are four reasons you might need to request an extension.

1. YOU SIMPLY NEED MORE TIME  Tax season brings a lot of stress for most people, and sometimes you have something going on that takes priority.  If you can’t spare the time to get your taxes together, and you know that you’re not going to owe money, go ahead and give yourself the extra six months.  Having additional time will relieve stress, and it will also help you take advantage of all the tax benefits available to you. With more time, you’re more likely to accurately file your return. That means no mistakes!

2. YOU’RE WAITING ON FORMS  Another legitimate reason to file an extension is because you’re waiting on paperwork that is needed to file. Incomplete, inaccurate, or missing documentation is a common cause for people to file an extension.  For example, freelancers cannot calculate their tax obligations until they’ve received a 1099 form from each of their clients. Or employees may lose track of their W-2, and must request another copy from their employer. In both cases, it’s not possible to file an income tax return without the necessary documentation, so filing an extension is the best option.

3. YOU’RE OUT OF TOWN  Although it’s possible to file your taxes electronically, many taxpayers prefer to submit hard copies of their tax forms. If that’s the case, and you’re traveling for work or another reason, you can file an extension in case you’re not back in town by the April deadline.  If you’re one of the lucky taxpayers who chooses to spend winter in a warmer climate, file for an extension if you’re not going to be home during the month of April. Just be sure not to miss any deadlines, as you could be penalized.

4. YOU HAVE A BUSY SCHEDULE  Let’s face it – everyone is busy, and sometimes your schedule gets in the way.  It’s not uncommon for people to run out of time when it comes to filing taxes. You think you have plenty of time, and the next thing you know it’s April 10th.  Tax preparers are busy, too, especially when tax season rolls around. As a result, they may advise clients to file for an extension if they show up with documents a few days before the deadline. It’s always a good idea to file an extension just in case in this situation.  You may not need it, but it’s good to have a backup plan.

THANK YOU!