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1 day ago · On average, 10% to 15% of taxpayers file Form 4868 annually. While a tax extension provides more time for filing returns, it doesn’t extend the time for paying tax liabilities. It means the IRS can impose late payment penalties if you don’t pay your tax due by the original tax deadline.
2 days ago · But the IRS postponed the tax deadline for 2020 returns because of the COVID-19 pandemic. The tax deadline for 2020 returns was pushed back to May 17, 2021, instead of April 15, 2021. And, because of that, the three-year window for claiming a 2020 refund is now pushed back to May 17, 2024. “There’s money remaining on the table”
3 days ago · Filing a basic tax extension through Form 4868. In most cases, a tax extension refers only to more time for filing. It doesn’t prevent the penalties for paying late, generally half a percent for each month you don’t pay. The smartest thing to do is to file even if you can’t pay right now and pay as quickly as you can.
1 day ago · While tax season is over for many taxpayers (except those of us still on extension), tax-exempt organizations still have to file. The filing deadline for many tax-exempt organizations is May 15, 2024.
1 day ago · The tax filing extension provides Sumner County residents and businesses additional time to file their tax returns. Here’s a breakdown of what the extension covers: Individual Tax Returns: Individuals have more time to file Form 1040, the standard individual income tax return.
4 days ago · The official IRS form for requesting a tax extension is Form 486 8, titled “Application for Automatic Extension of Time to File U.S. Individual Income Tax Return.” This form is specifically designed for requesting more time to file your federal income tax return (Form 1040). What you’ll need to provide on Form 4868:
4 days ago · The tax filing deadline for 2023 tax returns is April 15 this year. If you need more time, you can file for an extension until October 15. In either case, once your 2023 tax return has been successfully filed with the IRS, there may still be some issues to bear in mind.
