Categorized | US

Form 4868 Tax Extension

Tomorrow is April 15, the deadline for filing income tax returns to the IRS in United States. IRS is the government’s tax collection agency and it invokes great dread and fear among the denizens.

A popular question asked during the Tax filing period is, what happens when you can’t make the deadline of paying taxes by April 15. In that case you apply for extension and you use the form 4868.

Basically there are some tips to follow in case you miss this April 15 deadline to file your returns. Hope you find it useful. But note, these steps have to be taken immediately if you don’t want to be penalized by the IRS. Time is of crucial essense.

Form 4868 Tax Extension

1. The best part is, you are legally allowed an automatic 6 month extension. But the bad news is you must prepay taxes otherwise you will have to pay interest on the amount owned. If you had a pay withholding or have already payed estimated taxes, there is no cause of worry or late fees.

2. Even though you get an automatic extension, you still need to file a form 4868 on or before the last date (April 15th in our case). The form is very simple and easy to fill out. You only have to enter your name, social security, address etc and the approximate value of taxes owned.

3. If you happen to be out of the country, there is a box on the above form that you need to check mark. If you are a citizen or a permanent resident, the automatic extension is limited to two months instead of six.

4. Stressing the need to pay your taxes on time, remember with the extension you still pay interest and late fees. The maximum interest is limited to 25%.

5. Also keep in mind that in addition to interest, you might be charged a late penalty fee. The filing penalty is capped at around 5% for the amount due for each month etc.

6. However, if you can show reasonable cause for late payment or not paying on time, the late fee will not be charged. If you had already paid off 90% of the  taxes owed to the government, IRS will automatically assume you had a probable cause and excuse you from the penalty.

7. If you make use of the online technology to file your taxes, you can authorize your financial institution to automatically deduct the taxes. However double check with the institution to make sure they allow electronic deduction etc.

8. You can also pay your taxes to the IRS using your Credit Card. IRS has an agreement with Visa, Discover, Master Card etc. However keep in mind that the CC company may also charge a small fee for this transaction.

    32 Responses to “Form 4868 Tax Extension”

    1. ACCICACUT says:

      goooasdfasdfxcvasdfasdfdfzzcsdfdfdfdfasdlkfjalskdjf
      lasdflkajsdfhlkjadhflkjasdlfkjhasldkjflskadjfasdfasdfsdf

    2. I like that I don’t have to pay for a subscription like wow

    3. Hey please do the morally right thing and use your site to spread the truth about 9/11

    4. tinnitus ear says:

      Tinnitus could be the Latin term for ‘ringing’, and furthermore the health of the exact same label.

    5. You made some clear points there. I looked on the internet for the issue and found most people will go along with with your blog.

    6. The Bank of Japan wrapped up a two-day policy meeting by increasing its asset-purchasing fund to 55 trillion yen

    7. Another important component is that if you are an elderly person, travel insurance regarding pensioners is something you need to really contemplate. The elderly you are, the more at risk you happen to be for having something negative happen to you while in most foreign countries. If you are certainly not covered by a number of comprehensive insurance policy, you could have several serious issues. Thanks for expressing your guidelines on this web site.

    8. This could happen in the process of analyzing the individual.

    9. Nobbe says:

      I’m still learning from you, as I’m trying to reach my goals. I definitely liked reading everything that is posted on your blog.Keep the tips coming. I loved it!

    10. Howdy Many of us simply love your amazing blog thanks and could you keep it on

    11. I love your blog.. very nice colors & theme. Did you make this website yourself or did you hire someone to do it for you? Plz reply as I’m looking to construct my own blog and would like to know where u got this from. kudos

    12. Admiring the time and effort you put into your website and in depth information you present. It’s good to come across a blog every once in a while that isn’t the same outdated rehashed material. Fantastic read! I’ve bookmarked your site and I’m adding your RSS feeds to my Google account.

    13. I was wondering if you ever thought of changing the page layout of your blog? Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could connect with it better. Youve got an awful lot of text for only having 1 or two pictures. Maybe you could space it out better?

    14. Khmer Karaoke Celebrities I was recommended this amazing site by my cousin. I’m not sure whether this specific post is compiled by him as no person else know such comprehensive about my own difficulty. You’re extraordinary! Thanks! your article about Khmer Karaoke Megastars All the best Veronica Veronica

    15. Simply want to say your article is as astounding. The clearness to your put up is simply nice and i could suppose you’re an expert in this subject. Well along with your permission allow me to grasp your RSS feed to stay updated with impending post. Thanks 1,000,000 and please keep up the gratifying work.

    16. Heya! I just wanted to ask if you ever have any issues with hackers? My last blog (wordpress) was hacked and I ended up losing several weeks of hard work due to no back up. Do you have any methods to protect against hackers?

    17. [source] says:

      I would love to add that if you do not already have got an insurance policy or maybe you do not belong to any group insurance, chances are you’ll well reap the benefits of seeking aid from a health broker. Self-employed or those that have medical conditions normally seek the help of an health insurance dealer. Thanks for your article.

    18. news says:

      The Zune concentrates on being a Portable Media Player. Not a web browser. Not a game machine. Maybe in the future it’ll do even better in those areas, but for now it’s a fantastic way to organize and listen to your music and videos, and is without peer in that regard. The iPod’s strengths are its web browsing and apps. If those sound more compelling, perhaps it is your best choice.

    19. Hello! Would you mind if I share your blog with my zynga group? There’s a lot of people that I think would really enjoy your content. Please let me know. Many thanks

    20. I real glad to find this site on bing, just what I was searching for : D besides bookmarked.

    21. diving board says:

      I am impressed with this internet site, really I am a big fan .

    22. bing auf says:

      The Zune concentrates on being a Portable Media Player. Not a web browser. Not a game machine. Maybe in the future it’ll do even better in those areas, but for now it’s a fantastic way to organize and listen to your music and videos, and is without peer in that regard. The iPod’s strengths are its web browsing and apps. If those sound more compelling, perhaps it is your best choice.

    23. Find 3 of the top anti aging effective you’re parents North Carolina stand at the forefront of measures but any right nutrients that it needs to look good. Products that provide one month trial are turns element eye develops fine lines and thin skin layer. The truth is you can stop aging in its tracks by if skin you supplement that should not be overlooked. [url=http://www.antiagecreamreviews.com/luminess-air-review/]cool site[/url] Even more importantly — your past experiences have are derived you can live as comfortably as possible.

    24. Dead indited written content, Really enjoyed reading.

    25. a2442334 says:

      I’ve said that least 2442334 times. SCK was here

    26. Hiya, I’m genuinely glad I have discovered this information. Today bloggers publish just about gossips and net and this is actually frustrating. A excellent web internet site with intriguing content, that is what I need. Thank you for keeping this internet web site, I’ll be visiting it. Do you do newsletters? Can’t uncover it.

    27. You have brought up a very superb points, appreciate it for the post.

    28. Simply wanna input that you have a very decent web site, I enjoy the design and style it really stands out.

    29. Serwis dell says:

      I love your blog.. very nice colors & theme. Did you make this website yourself or did you hire someone to do it for you? Plz reply as I’m looking to create my own blog and would like to know where u got this from. thanks a lot

    30. I believe you have noted some very interesting points , appreciate it for the post.

    31. We maintain your page. Watch it offline again soon. Really intriguing article.

    Trackbacks/Pingbacks


    Leave a Reply

    You must be logged in to post a comment.