Need more time to file your 2017 tax return?
Before filing for an IRS tax extension, make sure it’s right for you. Here are a few common reasons why you may need to push your deadline back:
• More time needed to track down missing tax documents
• Unexpected life event
• Life’s been too busy
If you find yourself unable to complete your 2017 federal tax return by the April deadline (April 17 in 2018 for filng 2017 taxes), you’ll first need to file an extension with the IRS to avoid any potential late-filing or late payment penalties. Filing an extension will allow you to push your deadline back six months to October 15, 2018.
It’s important to keep in mind an extension only pushes back the due date for the filing of your tax documents. It does not give you extra time to pay on any taxes you may owe. If you believe you will owe money this year, you’ll need to estimate the amount after filing for an extension and make a payment by the April deadline.
Here are two options for filing an extension
E-file your federal tax extension
• E-file your federal extension
• Make a payment of any tax due directly from your checking or savings account
• Print a PDF copy of your e-filed extension
• Receive notifications when your extension has been accepted by the IRS
• Get easy instructions on how to file a state extension by mail
Once your extension is approved, you’ll have until October 15, 2018 to file your return. If you’re expecting a refund, it will not be processed until once you have completed your tax filing. If you think you owe, all estimated taxes will need to be paid to the IRS by April 17, 2018.
Print and mail your completed IRS extension form
If you’d rather mail your extension directly to the IRS, simply refer to IRS Form 4868: Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, complete and print the form, and send it to the IRS address for your state.
If you owe federal taxes, include your estimated payment with your Form 4868 and mail it—postmarked by April 17, 2018 to avoid any penalties or interest. Then complete and file your return on or before October 15, 2018.
Do you need to request a state tax extension?
State tax extension guidelines vary. To see detailed information about state extension filing deadlines and mailing addresses, select your state of interest from this state tax authority’s website.
• If the IRS thinks your estimate of the amount of tax you owe is unreasonable, it may disallow your extension and assess a late-filing penalty.
• If you underestimate the amount of tax you owe, you’ll have to pay interest on whatever amount you fail to pay by the April deadline (April 17 in 2018 for filng 2017 taxes).
• If you pay less than 90% of the tax you owe, you’ll end up owing a penalty of 0.5% of the underpayment every month until you pay the remaining balance.
Still unsure how to file an extension? Need help? Click here to make to speak with one of our tax and accounting professionals.