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How to File for a Tax Extension

What Is a Tax Extension?

A tax extension provides you with an additional six months to complete and file your federal tax return. If you are unable to finish your tax return by the original deadline, you can request an automatic extension from the IRS.

Is There a Penalty for Filing a Tax Extension?

There is no penalty for filing an extension as long as you submit your request by the original filing deadline. However, other penalties may apply if you fail to file for an extension or pay your taxes on time.

How to File for a Tax Extension

Here are three easy options for requesting an extension from the IRS:

1. Use IRS Free File

You can file an electronic extension request using tax software from IRS Free File. This service is free for anyone, regardless of income.

2. File Form 4868

Download and complete Form 4868. You can e-file it online using tax preparation software or with the help of a tax professional. Alternatively, you can print and mail the completed form to the address shown on the form.

3. Make an Electronic Extension Payment

When you make an online payment with the IRS and select “extension,” you do not need to file a separate extension request. Save the confirmation information for your records.

When Filing for an Extension Isn’t Necessary

In some cases, filing an extension might not be necessary. For example, if you have been affected by a FEMA-declared disaster, your deadline to file may be automatically extended. Additionally, if you are living and working outside the United States and Puerto Rico on the original due date of your tax return, you may be eligible to delay your tax filing and payment until June 17, 2024.

The Bottom Line

Filing your tax return sooner rather than later is generally beneficial. However, if you need extra time to get your paperwork in order, filing for an extension is a straightforward process that provides you with additional time. Just ensure you request your extension by April 15 and pay any estimated taxes owed to avoid penalties.

Remember, you do not have to take the full six months to file your return. If you can complete it sooner, you can close the books on this tax year earlier.

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