Tuesday, March 8, 2011

What is Personal Tax Extension (Form 4868)?

The Tax Payers are granted  6 month extension of time to file your income tax return by filing Form 4868 by the due date, April 15th. You can E-file Form 4868 through our site Expressextension.com. A federal tax extension also extends your state income tax return, as well.
If you are out of the country on April 15th, you have until June 15th to file your extension. A properly filed Form 4868 tax extension gives you until October 15th to file the return.
An extension of time to file is not an extension of time to pay. This below information will outline what a federal tax extension provides and what is not granted an automatic extension.


Payments with Form 4868

You will still face interest and penalties if your taxes are not paid by April 15th. An estimate of your tax liability must be included with the extension, but it is not required you pay the liability for the extension to be valid.
Payments are made by check, credit/debit card, or automatic funds transfer from your checking or savings account. Paper filed extensions are usually paid by check; e-filed extension payments are easy to make by funds transfer.