Extend Your Tax Return Due Date - By: StrataTax

Do you need more time to prepare your federal tax return? If so, you may be able to get an automatic 6-month extension of time to file. Keep in mind that an extension of time to file your return does not grant you any extension of time to pay your tax liability. To request an extension of time, you must file Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return by the due date for filing your calendar year return (usually April 15) or fiscal year return. This will extend the due date of your return for 6 months (there may be additional extensions if you are living out of the country). You can then file your tax return any time before the extension expires.

Qualifying for the Extension. There are three qualifications that must be met in order to qualify for the 6-month extension:
1. Properly estimate your tax liability using the information available to you at the time
2. Enter your total tax liability on line 4 of Form 4868
3. File Form 4868 by the regular date of your return

Payment of Estimated Tax. Form 4868 does not extend the time to pay taxes. If you do not pay the amount due by the regular due date, you will owe interest and may also be charged penalties.

Requesting the Extension. There are three ways to request an automatic extension of time to file your U.S. individual income tax return:
1. Access the IRS e-file to file Form 4868 electronically
2. Pay all or part of your estimate of income tax due using a debit or credit card or by using the Electronic Federal Tax Payment System (EFTPS)
3. File a paper Form 4868

E-File the Form 4868. You can e-file Form 4868 through a tax software program or through a professional tax preparer. You will need to have a copy of your previous year tax return to complete the Form 4868. If you have tax due, you can pay by electronic funds withdrawal, or by sending in a check or money order. If you file your form electronically through the IRS e-file program, you will receive an electronic acknowledgment once you complete the transaction. Keep the acknowledgement with your records. Do not mail in the Form 4868 unless you are making a payment with a check or money order.

Pay by Credit or Debit Card or EFTPS. You can get an extension if you pay part or all of your estimate of
income tax due by using a credit or debit card or by using the EFTPS. These payments can be made by phone or over the Internet.

File a Paper Form 4868. Fill in the Form 4868 below and mail it to the address shown on page 4 of Form 4868 if you wish to file on paper instead of electronically. You must file a paper Form 4868 if you are a fiscal year taxpayer requesting an extension.

Taxpayers Who Are Out of the Country. If, on the regular due date of your return, you are out of the country and a U.S. citizen or resident, you are allowed 2 extra months to file your return and pay any amount due without requesting an extension. If you need an additional 4 months to file your return, File Form 4868 and check the box on line 8.

Your tax preparer can provide you with more information regarding extensions for your income tax return. StrataTax, a San Diego consulting and tax services firm, is available year-round to assist you with income tax preparation and tax planning. Call us at (858) 225-7720 to setup your free initial consultation or visit us at http://www.StrataTax.com for more information.

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