There is no need to panic if you miss the deadline to file your taxes. You can fill out a free form 4868 and file for an extension. If you file for an extension, then you have until October 15 to file your taxes. Keep in mind that filing an extension does not absolve you of any tax debt that you owe. You will still have to pay the amount due when you file an extension.
Get Your Extension When You Make a Payment
There are several ways that you can pay your estimated taxes due. You can pay all or part of the balance via direct pay. If you make a payment via direct payment, then you will receive a confirmation number. The confirmation number gives you the ability to look up a payment any time that you want.
You can also make a payment through the Electronic Federal Tax Payment System. You can schedule payments up to 365 days ahead of time. You also have the ability to cancel and modify payments. Additionally, you can view your payment history.
You can make a payment with the credit card or debit card. If you make a payment, then you don’t have to worry about filing a separate extension form.
The Benefits of Filing a Tax Extension
One of the many great things about filing an extension is that your request will most likely be approved. However, it is important for you to make sure that all of the information is correct. A mistake can trigger a rejection. You don’t have to explain why you need to file a tax extension.
There are some people who receive an automatic extension, such as people who are overseas serving in the military. You can preserve your tax refund if you file an extension. You may still get late penalties for filing late, but you will likely be able to reduce those penalties.
You will have more time to get all of your important documents together. Furthermore, you will have more time to ensure that the information is accurate so that you will be less likely to get audited.
How We Can Help You
Master Plan can help you file an extension. We will make sure that you fill out the form correctly. WE can also submit the extension for you.