Can’t file taxes on time? Get an extension

File taxes by April 17th 2012 or get an extension

So you have 2 extra days to file but you still can’t get your act together for the deadline.
OK, No problemo. Get a 6 month extension. Cool eh! I thought you’d like that.
Here’s the deal.

File on time

The best thing to do is to file on time. If you can’t pay pay as much as you can and make arrangements to pay the balance ASAP be cause the penalties and interest will suck if you don’t. File the Form 9465, Installment Agreement Request along with your taxes.

Still can’t get organized?

If you still can’t get it together to file at all then file for an extension. Do not screw around with the IRS. Do that at least on time.
The filing and the payment of taxes are two different things. Both are important but separate in a sense.

Traditional Free File Form

And the Free File Fillable e-forms are both available as options to file for an extension.

Get the form Form 4868

This is the application for Automatic Extension of Time to File U.S. Individual Income Tax Return to the IRS.
Get that in the mail and post marked by the 17th of April. If you go to the post office you can get it post marked but if you just put it into a mailbox somewhere you can’t be positive about when it will be picked up and then processed. it might be late. Of course the PO might be crowded that day but you have to do it so…
If your credit card interest rate is lower than the interest and penalties imposed buy the IRS then it might be best to pay the taxes due by credit card. Use form 4868 for credit card payments related to an extension.

Electronic funds withdrawal

When you choose the electronic internet method for an extension you will have the opportunity to pay by EFT from checking or a savings account. Get your bank account and routing number and have them handy. Don’t do this at the last minute if you don’t feel comfortable with a possible small learning curve concerning the procedure.

E-file extension!

Either with tax prep software or using a tax preparer who already has the software, you can file for an extension request by the good old internet. You will get a receipt for your action but you have to file by midnight of the 17th.
Now I’m going to guess that you shouldn’t count on that last minute stuff because the servers might be overloaded at the final countdown and so the sooner the better. That is just a thought on my part.

Download Form 4868

Form 4868 is available for download here or you can go to the IRS office yourself.

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2 thoughts on “Can’t file taxes on time? Get an extension

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