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The complexities of tax season bring about a common need for more time to accurately gather and report one's financial affairs. Recognizing this, the Internal Revenue Service (IRS) provides a provision through Form 4868, a crucial application that grants individuals an extension on their deadline to file their federal income tax return. This reprieve is not to be misunderstood; while it allows taxpayers an additional six months to prepare their documentation, it does not extend the time to pay any taxes owed. The importance of submitting this form by the original due date of your tax return cannot be overstated, as failing to do so might lead to penalties and interest on taxes not paid by the deadline. It serves as a bridge for those who find themselves in need of extra time, ensuring they can fulfill their fiscal responsibilities without undue haste. The form itself is straightforward, but the implications of its use—or misuse—underscores the importance of understanding its role within the broader tax filing process.
IRS 4868 Example
Form 4868
Department of the Treasury Internal Revenue Service (99)
Application for Automatic Extension of Time To File U.S. Individual Income Tax Return
▶Go to www.irs.gov/Form4868 for the latest information.
OMB No.
2021
There are three ways to request an automatic extension of time to file a U.S. individual income tax return.
1.You can pay all or part of your estimated income tax due and indicate that the payment is for an extension using Direct Pay, the Electronic Federal Tax Payment System, or using a credit or debit card. See How To Make a Payment, later.
2.You can file Form 4868 electronically by accessing IRS
3.You can file a paper Form 4868 and enclose payment of your estimate of tax due (optional).
It’s Convenient,
Safe, and Secure
IRS
Complete Form 4868 to use as a worksheet. If you think you may owe tax when you file your return, you’ll need to estimate your total tax liability and subtract how much you’ve already paid (lines 4, 5, and 6 below).
Several companies offer free
Pay Electronically
You don’t need to file Form 4868 if you make a payment using our electronic payment options. The IRS will automatically process an extension of time to file when you pay part or all of your estimated income tax electronically. You can pay online or by phone. See Making Payments Electronically, later.
Refer to your tax software package or tax preparer for ways to file electronically. Be sure to have a copy of your 2020 tax return— you’ll be asked to provide information from the return for taxpayer verification. If you wish to make a payment, you can pay by electronic funds withdrawal or send your check or money order to the address shown in the middle column under Where To File a Paper Form 4868, later.
File a Paper Form 4868
If you wish to file on paper instead of electronically, fill in the Form 4868 below and mail it to the address shown under Where To File a Paper Form 4868, later.
For information on using a private delivery service, see Private Delivery Services, later.
Note: If you’re a fiscal year taxpayer, you must file a paper Form 4868.
General Instructions |
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Purpose of Form |
1. Properly estimate your 2021 tax liability using the information |
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Use Form 4868 to apply for 6 more months (4 if “out of the |
available to you, |
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2. Enter your total tax liability on line 4 of Form 4868, and |
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country” (defined later under Taxpayers who are out of the country) |
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3. File Form 4868 by the regular due date of your return. |
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and a U.S. citizen or resident) to file Form 1040, |
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Although you aren’t required to make a payment of the tax |
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Gift and |
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you estimate as due, Form 4868 doesn’t extend the time to |
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709). An extension of time to file your 2021 calendar year income |
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pay taxes. If you don’t pay the amount due by the regular |
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tax return also extends the time to file Form 709 for 2021. However, |
due date, you’ll owe interest. You may also be charged penalties. |
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it doesn’t extend the time to pay any gift and GST tax you may owe |
For more details, see Interest and Late Payment Penalty, later. Any |
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for 2021. To make a payment of gift and GST tax, see Form 8892. If |
remittance you make with your application for extension will be |
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you don’t pay the amount due by the regular due date for Form 709, |
treated as a payment of tax. |
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you’ll owe interest and may also be charged penalties. If the donor |
You don’t have to explain why you’re asking for the extension. |
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died during 2021, see the instructions for Forms 709 and 8892. |
We’ll contact you only if your request is denied. |
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Qualifying for the Extension |
Don’t file Form 4868 if you want the IRS to figure your tax or |
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you’re under a court order to file your return by the regular due date. |
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To get the extra time, you must: |
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▼ DETACH HERE ▼
Form 4868 |
Application for Automatic Extension of Time |
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Department of the Treasury |
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To File U.S. Individual Income Tax Return |
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Internal Revenue Service (99) |
For calendar year 2021, or other tax year beginning |
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Part I |
Identification |
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Part II |
Individual Income Tax |
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OMB No.
2021
1 Your name(s) (see instructions) |
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Estimate of total tax liability for 2021 . . |
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Total 2021 payments |
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Address (see instructions) |
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Balance due. Subtract line 5 from line 4. |
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See instructions |
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Amount you’re paying (see instructions) . ▶ |
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Check here if you’re “out of the country” and a U.S. |
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citizen or resident. See instructions . . . |
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2 Your social security number |
3 Spouse’s social security number |
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wages as an employee subject to U.S. income tax |
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For Privacy Act and Paperwork Reduction Act Notice, see instructions later. |
Cat. No. 13141W |
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Form 4868 (2021) |
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Form 4868 (2021) |
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When To File Form 4868
File Form 4868 by April 18, 2022 (April 19, 2022, if you live in Maine or Massachusetts). Fiscal year taxpayers file Form 4868 by the original due date of the fiscal year return.
Taxpayers who are out of the country. If, on the regular due date of your return, you’re out of the country (as defined below) and a U.S. citizen or resident, you’re allowed 2 extra months to file your return and pay any amount due without requesting an extension. Interest will still be charged, however, on payments made after the regular due date, without regard to the extension. If you’re out of the country and file a calendar year income tax return, you can pay the tax and file your return or this form by June 15, 2022. File this form and be sure to check the box on line 8 if you need an additional 4 months to file your return.
If you’re out of the country and a U.S. citizen or resident, you may qualify for special tax treatment if you meet the bona fide residence or physical presence test. If you don’t expect to meet either of those tests by the due date of your return, request an extension to a date after you expect to meet the tests by filing Form 2350, Application for Extension of Time To File U.S. Income Tax Return.
You’re out of the country if:
•You live outside the United States and Puerto Rico and your main place of work is outside the United States and Puerto Rico, or
•You’re in military or naval service on duty outside the United States and Puerto Rico.
If you qualify as being out of the country, you’ll still be eligible for the extension even if you’re physically present in the United States or Puerto Rico on the regular due date of the return.
For more information on extensions for taxpayers out of the country, see Pub. 54, Tax Guide for U.S. Citizens and Resident Aliens Abroad.
Form
If you didn’t receive wages as an employee subject to U.S. income tax withholding, and your return is due June 15, 2022, check the box on line 9.
Total Time Allowed
Generally, we can’t extend the due date of your return for more than 6 months (October 17, 2022, for most calendar year taxpayers). However, there may be an exception if you’re living out of the country. See Pub. 54 for more information.
Filing Your Tax Return
You can file your tax return any time before the extension expires. Don’t attach a copy of Form 4868 to your return.
Interest
You’ll owe interest on any tax not paid by the regular due date of your return, even if you qualify for the
Late Payment Penalty
The late payment penalty is usually ½ of 1% of any tax (other than estimated tax) not paid by the regular due date of your return, which is April 18, 2022. It’s charged for each month or part of a month the tax is unpaid. The maximum penalty is 25%.
The late payment penalty won’t be charged if you can show reasonable cause for not paying on time. Attach a statement to your return fully explaining the reason. Don’t attach the statement to Form 4868.
You’re considered to have reasonable cause for the period covered by this automatic extension if both of the following requirements have been met.
1.At least 90% of the total tax on your 2021 return is paid on or before the regular due date of your return through withholding, estimated tax payments, or payments made with Form 4868.
2.The remaining balance is paid with your return.
Late Filing Penalty
A late filing penalty is usually charged if your return is filed after the due date (including extensions). The penalty is usually 5% of the amount due for each month or part of a month your return is late. The maximum penalty is 25%. If your return is more than 60 days late, the minimum penalty is $435 (adjusted for inflation) or the balance of the tax due on your return, whichever is smaller. You might not owe the penalty if you have a reasonable explanation for filing late. Attach a statement to your return fully explaining your reason for filing late. Don’t attach the statement to Form 4868.
How To Claim Credit for Payment Made With This Form
When you file your 2021 return, include the amount of any payment you made with Form 4868 on the appropriate line of your tax return.
The instructions for the following line of your tax return will tell you how to report the payment.
•Form 1040,
•Form
•Form
If you and your spouse each filed a separate Form 4868 but later file a joint return for 2021, enter the total paid with both Forms 4868 on the appropriate line of your joint return.
If you and your spouse jointly file Form 4868 but later file separate returns for 2021, you can enter the total amount paid with Form 4868 on either of your separate returns. Or you and your spouse can divide the payment in any agreed amounts.
Form 4868 (2021) |
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Specific Instructions
How To Complete Form 4868
Part
Enter your name(s) and address. If you plan to file a joint return, include both spouses’ names in the order in which they will appear on the return.
If you want correspondence regarding this extension to be sent to you at an address other than your own, enter that address. If you want the correspondence sent to an agent acting for you, include the agent’s name (as well as your own) and the agent’s address.
If you changed your name after you filed your last return because of marriage, divorce, etc., be sure to report this to the Social Security Administration before filing Form 4868. This prevents delays in processing your extension request.
If you changed your mailing address after you filed your last return, you should use Form 8822, Change of Address, to notify the IRS of the change. Showing a new address on Form 4868 won’t update your record. You can download or order IRS forms at www.irs.gov/FormsPubs.
If you plan to file a joint return, enter on line 2 the social security number (SSN) that you’ll show first on your return. Enter on line 3 the other SSN to be shown on the joint return. If you’re filing Form
IRS individual taxpayer identification numbers (ITINs) for aliens. If you’re a nonresident or resident alien and you don’t have and aren’t eligible to get an SSN, you must apply for an ITIN. Although an ITIN isn’t required to file Form 4868, you’ll need one to file your income tax return. For details on how to apply for an ITIN, see Form
▲An ITIN is for tax use only. It doesn’t entitle you to social ! security benefits or change your employment or
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immigration status under U.S. law. |
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Rounding off to whole dollars. You can round off cents to whole dollars on Form 4868. If you do round to whole dollars, you must round all amounts. To round, drop amounts under 50 cents and increase amounts from 50 to 99 cents to the next dollar. For example, $1.39 becomes $1 and $2.50 becomes $3. If you have to add two or more amounts to figure the amount to enter on a line, include cents when adding the amounts and round off only the total.
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Enter on line 4 the total tax liability you expect to report on your 2021:
•Form 1040,
•Form
•Form
If you expect this amount to be zero, enter
▲Make your estimate as accurate as you can with the ! information you have. If we later find that the estimate
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wasn’t reasonable, the extension will be null and void. |
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Enter on line 5 the total payments you expect to report on your 2021:
•Form 1040,
•Form
•Form
▲For Forms
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Subtract line 5 from line 4. If line 5 is more than line 4, enter
Line
If you find you can’t pay the amount shown on line 6, you can still get the extension. But you should pay as much as you can to limit the amount of interest you’ll owe. Also, you may be charged the late payment penalty on the unpaid tax from the regular due date of your return. See Late Payment Penalty, earlier.
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If you’re out of the country on the regular due date of your return, check the box on line 8. “Out of the country” is defined under Taxpayers who are out of the country, earlier.
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If you didn’t receive wages subject to U.S. income tax withholding, and your return is due June 15, 2022, check the box on line 9.
How To Make a Payment
Making Payments Electronically
You can pay online with a direct transfer from your bank account using Direct Pay, the Electronic Federal Tax Payment System, or by debit or credit card. You can also pay by phone using the Electronic Federal Tax Payment System or by debit or credit card. For more information, go to www.irs.gov/Payments.
Confirmation number. You’ll receive a confirmation number when you pay online or by phone. Enter the confirmation number below and keep it for your records.
Enter confirmation number here ▶
Note: If you use an electronic payment method and indicate the payment is for an extension, you don’t have to file Form 4868. You should pay the entire estimated tax owed or you could be subject to a penalty. Your extension will be automatically processed when you pay part or all of your estimated income tax electronically.
Pay by Check or Money Order
•When paying by check or money order with Form 4868, use the appropriate address in the middle column under Where To File a Paper Form 4868, later.
•Make your check or money order payable to “United States Treasury.” Don’t send cash.
•Write your SSN, daytime phone number, and “2021 Form 4868” on your check or money order.
•Don’t staple or attach your payment to Form 4868.
Note: If you
Notice to taxpayers presenting checks. When you provide a check as payment, you authorize us either to use information from your check to make a
No checks of $100 million or more accepted. The IRS can’t accept a single check (including a cashier’s check) for amounts of $100,000,000 ($100 million) or more. If you’re sending $100 million or more by check, you’ll need to spread the payment over two or more checks with each check made out for an amount less than $100 million. The $100 million or more amount limit doesn’t apply to other methods of payment (such as electronic payments). Please consider a method of payment other than check if the amount of the payment is $100 million or more.
Form 4868 (2021) |
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Where To File a Paper Form 4868 |
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And you’re not making a payment, |
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And you’re making a payment, |
send Form 4868 to |
If you live in: |
send Form 4868 with your payment to |
Department of the Treasury, |
Internal Revenue Service: |
Internal Revenue Service Center: |
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Florida, Louisiana, Mississippi, Texas |
P.O. Box 1302, Charlotte, NC |
Austin, TX |
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Arizona, New Mexico |
P.O. Box 802503, Cincinnati, OH |
Austin, TX |
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Arkansas, Connecticut, Delaware, District of Columbia, Illinois, |
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Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, |
P.O. Box 931300, Louisville, KY |
Kansas City, MO |
Minnesota, Missouri, New Hampshire, New Jersey, New York, |
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Oklahoma, Rhode Island, Vermont, Virginia, West Virginia, |
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Wisconsin |
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Pennsylvania |
P.O. Box 802503, Cincinnati, OH |
Kansas City, MO |
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Alaska, California, Colorado, Hawaii, Idaho, Kansas, Michigan, |
P.O. Box 802503, Cincinnati, OH |
Ogden, UT |
Montana, Nebraska, Nevada, North Dakota, Ohio, Oregon, |
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South Dakota, Utah, Washington, Wyoming |
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Alabama, Georgia, North Carolina, South Carolina, Tennessee |
P.O. Box 1302, Charlotte, NC |
Kansas City, MO |
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A foreign country, American Samoa, or Puerto Rico, or are |
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excluding income under Internal Revenue Code section 933, |
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or use an APO or FPO address, or file Form 2555 or 4563, |
P.O. Box 1303, Charlotte, NC |
Austin, TX |
or are a |
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Guam or the U.S. Virgin Islands |
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All foreign estate and trust Form |
P.O. Box 1303, Charlotte, NC |
Kansas City, MO |
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All other Form |
P.O. Box 1302, Charlotte, NC |
Austin, TX |
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Private Delivery Services
You can use certain private delivery services designated by the IRS to meet the “timely mailing as timely filing/paying” rule for tax returns and payments. These private delivery services include only the following.
•Federal Express (FedEx): FedEx First Overnight, FedEx Priority Overnight, FedEx Standard Overnight, FedEx 2 Day, FedEx International Next Flight Out, FedEx International Priority, FedEx International First, and FedEx International Economy.
•DHL Express: DHL Express 9:00, DHL Express 10:30, DHL Express 12:00, DHL Express Worldwide, DHL Express Envelope, DHL Import Express 10:30, DHL Import Express 12:00, and DHL Import Express Worldwide.
•United Parcel Service (UPS): UPS Next Day Air Early AM, UPS Next Day Air, UPS Next Day Air Saver, UPS 2nd Day Air, UPS 2nd Day Air A.M., UPS Worldwide Express Plus, and UPS Worldwide Express.
To check for any updates to the list of designated private delivery services, go to www.irs.gov/PDS. For the IRS mailing address to use if you’re using a private delivery service, go to www.irs.gov/PDSStreetAddresses.
The private delivery service can tell you how to get written proof of the mailing date.
▲Private delivery services can’t deliver items to P.O. boxes. ! You must use the U.S. Postal Service to mail any item to an
IRS P.O. box address.CAUTION
Privacy Act and Paperwork Reduction Act Notice. We ask for the information on this form to carry out the Internal Revenue laws of the United States. We need this information so that our records will reflect your intention to file your individual income tax return within 6 months after the regular due date. If you choose to apply for an automatic extension of time to file, you’re required by Internal Revenue Code section 6081 to provide the information requested on this form. Under Internal Revenue Code section 6109, you must disclose your social security number or individual taxpayer identification number. Routine uses of this information include giving it to the Department of Justice for civil and criminal litigation, and to cities, states, the District of Columbia, and U.S. commonwealths and possessions for use in administering their tax laws. We may also disclose this information to other countries under a tax treaty, to federal and state agencies to enforce federal nontax criminal laws, or to federal law enforcement and intelligence agencies to combat terrorism. If you fail to provide this information in a timely manner or provide incomplete or false information, you may be liable for penalties.
You aren’t required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid OMB control number. Books or records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax returns and return information are confidential, as required by Internal Revenue Code section 6103.
The average time and expenses required to complete and file this form will vary depending on individual circumstances. For the estimated averages, see the instructions for your income tax return.
If you have suggestions for making this form simpler, we would be happy to hear from you. See the instructions for your income tax return.
Document Specifics
| Fact Name | Detail |
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| Form Purpose | The IRS 4868 form is used to request an automatic extension of time to file a U.S. individual income tax return. |
| Extension Duration | Filing this form gives taxpayers an additional six months to file their federal income tax return. |
| Eligibility | Most individuals, including those living abroad or out of the country on the tax due date, are eligible to use Form 4868. |
| Filing Deadline | The form must be filed by the regular due date of the tax return, typically April 15. |
| Payment Requirement | While Form 4868 extends the filing deadline, it does not grant an extension for any taxes owed. Taxes are still due by the original deadline to avoid penalties. |
| Method of Submission | Form 4868 can be submitted electronically through IRS e-file or via mail. |
| State-Specific Forms | Some states require a separate extension form for state income tax returns. The need for a separate state form and its governing laws vary by state. |
Guide to Writing IRS 4868
Upon recognizing the need for additional time to gather the required documents and complete the annual income tax return accurately, individuals often turn to Form 4868 for relief. This form serves as an application for an automatic extension, granting filers an additional six months to submit their federal income tax return without incurring penalties for late filing. It's crucial to note, however, that this extension applies to the filing deadline only, not to any tax payments due. To avoid potential penalties and interest, estimated taxes should be paid by the original due date. The steps outlined below aim to simplify the process of filling out Form 4868, ensuring that individuals can confidently secure the extra time needed.
- Identify and gather your personal information, including Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), and if filing jointly, your spouse's information as well.
- Estimate the total amount of tax liability for the year using previous returns, financial documents, and any other relevant records. This estimation will form the basis of Part II on the form.
- Calculate the total payments already made towards this year’s tax liability. Include any withholding taxes from salaries, estimated tax payments made throughout the year, and any refundable credits.
- Access the IRS Form 4868 either through the IRS website or a tax preparation software. The form can also be obtained at local libraries or post offices.
- Fill in your name, address, and SSN (and your spouse’s information if filing jointly) in the designated spaces at the beginning of Form 4868.
- In Part I of Form 4868, enter your estimated total tax liability for the year in line 4.
- On line 5, input the total payments you have already made towards your tax liability.
- Subtract line 5 from line 4 to determine your balance due, if any, and enter this amount on line 6.
- If you are able to pay part or all of your estimated balance due, indicate the amount you are paying with the extension request in line 7.
- Review the form thoroughly to ensure all information is accurate and complete. Any errors may delay processing or affect the approval of your extension request.
- Submit Form 4868 and any payment of your estimated tax due electronically through the IRS e-file system, or mail the form to the appropriate IRS address. The specific mailing address can vary depending on your state of residence and whether you are including a payment, so refer to the IRS instructions for Form 4868 to find the correct address.
Once submitted, individuals will automatically receive an extension to file their federal income tax return, providing peace of mind and additional time to ensure their filings are accurate and complete. It is important to remember, however, that obtaining an extension to file does not extend the time to pay any taxes owed. To minimize the risk of incurring interest and penalties, filers should estimate and pay any owed taxes by the original due date.
Understanding IRS 4868
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What is the purpose of the IRS Form 4868?
The IRS Form 4868, officially titled "Application for Automatic Extension of Time To File U.S. Individual Income Tax Return," serves to grant taxpayers an additional six months to file their federal income tax return. This extension applies to the filing of the tax return, not to any tax payment due. The form is used when individuals need more time to gather necessary documentation, ensure accurate reporting, or seek professional tax preparation assistance.
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How do I file Form 4868 and by when?
Form 4868 can be filed electronically through IRS e-file or by mailing a paper form to the IRS. The submission must be made by the original due date of your tax return, typically April 15th. If the 15th falls on a weekend or legal holiday, the due date is then the next business day. Electronically filed extensions get an automatic acknowledgment from the IRS, confirming receipt.
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Is there a fee to file Form 4868?
There is no fee to file Form 4868. However, if you owe taxes, it's important to estimate and pay the amount due by the original filing deadline to avoid or reduce interest and penalties. Submitting Form 4868 gives you more time to file your return, but it does not extend the time to pay your tax liability.
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What happens if I don’t file Form 4868 by the deadline?
If Form 4868 is not filed by the tax return's original deadline, and you fail to file your tax return, you may face late filing penalties. The penalty is usually 5% of the unpaid taxes for each month or part of a month that a tax return is late. There is also a failure-to-pay penalty applied to any unpaid taxes. If both penalties apply in the same month, the maximum charge you'll face for both penalties is 5% of the unpaid taxes each month.
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Can I get a second extension beyond the Form 4868 extension period?
Generally, the IRS does not grant extensions beyond the additional six months provided by filing Form 4868. In special circumstances, such as being out of the country, taxpayers might qualify for additional time to file. However, these situations are exceptions rather than the rule. All taxpayers should aim to file by the extended deadline granted by Form 4868 to avoid penalties.
Common mistakes
Filling out IRS Form 4868, the application for Automatic Extension of Time to File U.S. Individual Income Tax Return, seems straightforward, but errors can occur. These mistakes may lead to processing delays or even penalties. Awareness of common pitfalls can help ensure the form is completed accurately.
Not checking eligibility: Taxpayers sometimes fail to verify their eligibility for an extension, not realizing that certain conditions may disqualify them.
Incorrect Social Security Numbers (SSNs): Entering an incorrect or incomplete SSN is a common mistake. This is crucial for identity verification, and errors can significantly delay processing.
Misunderstanding the extension: Many confuse the extension of time to file with an extension of time to pay taxes owed, leading to unexpected penalties and interest.
Incorrect tax year: Failing to specify the correct tax year for which the extension is requested can cause confusion and processing errors.
Estimating tax liability inaccurately: Taxpayers are required to estimate their tax liability on Form 4868. Underestimating may result in penalties, while overestimating ties up funds that could be utilized elsewhere.
Failing to sign the form: An unsigned form is invalid. For joint returns, both spouses must sign if they are both requesting an extension.
Missing the deadline: Submitting Form 4868 after the due date renders the extension request invalid and can lead to late-filing penalties.
Omitting necessary information: Skipping sections or not providing required details can lead to a rejected extension request or delays in processing.
Avoiding these mistakes requires careful review and comprehension of Form 4868 instructions. Taxpayers should double-check their work before submission to ensure a smooth extension process.
Documents used along the form
When the tax deadline looms and you find yourself needing more time, the IRS Form 4868 becomes your best ally, serving as an application for an automatic extension of time to file your U.S. individual income tax return. Yet, in the world of taxes, rarely does one form travel alone. Several other forms and documents often accompany Form 4868, each serving its own unique purpose in the intricate dance of tax preparation and filing. Here, we explore a collection of these companions, shedding light on their roles in ensuring your tax journey is both compliant and complete.
- Form 1040: The cornerstone of tax filing, this form is used by U.S. taxpayers to file their annual income tax returns. It gathers detailed financial information, which helps in calculating the tax owed or refund due.
- Form W-2: This wage and tax statement is provided by employers to their employees and the IRS. It reports annual wages and the amount of taxes withheld from paychecks, crucial for accurate tax return filings.
- Form 1099: This series of documents reports various types of income other than wages, salaries, and tips. From independent contractor earnings (1099-NEC) to interest income (1099-INT) and dividends (1099-DIV), these forms help account for income that might not be subject to regular withholding.
- Form 1098: Reporting mortgage interest paid during the year, this document is vital for homeowners looking to deduct mortgage interest from their taxable income.
- Schedule A (Form 1040): For those itemizing deductions rather than taking the standard deduction, this form outlines allowable deductions like medical expenses, taxes paid, and charitable contributions.
- Schedule C (Form 1040): Essential for self-employed individuals or sole proprietors, it reports income or loss from a business or profession.
- Form 8822: Changing your address? This form notifies the IRS of your new address, ensuring all future communication or refunds find their way to you without delay.
- Form 4506-T: In cases where you need to request prior-year tax return information, this form allows you to obtain transcripts that prove your income for loans or government aid applications.
- Form 8962: For those who purchased health insurance through the Marketplace, this form reconciles the Premium Tax Credit (PTC) and ensures that the correct credit amount is claimed on the tax return.
Gathering these forms and documents in conjunction with filing Form 4868 can streamline the process, ensuring you have all the necessary information at hand when it's time to complete your tax return. Remember, an extension to file isn't an extension to pay any taxes owed. So, understanding the purpose and necessity of each form in relation to your unique tax situation can ultimately save time, prevent errors, and reduce the stress often associated with tax season.
Similar forms
The IRS 4868 form is an application for an automatic extension of time to file a U.S. individual income tax return. This document shares similarities with the IRS Form 7004, "Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns." Both forms serve the purpose of requesting additional time to file taxes, though the 7004 form applies to entities such as corporations, trusts, and partnerships, demonstrating the IRS's flexibility in granting extensions across different taxpayer categories.
Another parallel document is the IRS Form 8809, "Application for Extension of Time to File Information Returns." Like Form 4868, Form 8809 is used to request more time for filing, but it specifically targets informational returns, like forms 1099 or W-2. The similarity lies in their function to alleviate the pressure on filers by granting them extra time, underscoring the IRS’s understanding of various filing obligations and deadlines that may overwhelm taxpayers.
The IRS Form 4868 also closely aligns with Form 2350, "Application for Extension of Time to File U.S. Income Tax Return." Form 2350 is specifically for U.S. citizens and residents who are abroad and need additional time to meet their tax obligations. Both forms highlight the IRS's allowance for different circumstances, providing avenues for extensions due to location or other specific needs of the taxpayer.
Form 5558, "Application for Extension of Time to File Certain Employee Plan Returns," is yet another document akin to IRS Form 4868. This particular form is used for requesting more time to file forms related to employee benefit plans. The resemblance lies in their mutual goal of facilitating compliance by allowing additional time for the preparation and submission of complex documents, although they cater to different aspects of tax and financial responsibilities.
Closely associated with IRS Form 4868 is the IRS Form 8892, which concerns itself with payments of and applications for extensions of time to file Form 709 (United States Gift (and Generation-Skipping Transfer) Tax Return). While Form 4868 pertains to income tax returns, Form 8892 deals with gift and generation-skipping transfer tax returns. Both forms enable taxpayers to seek more time for filing their respective returns, ensuring they have sufficient time to accurately report their liabilities.
The IRS Form 4868 parallels Form 1127, "Application for Extension of Time for Payment of Tax Due to Undue Hardship." While both forms seek extensions, Form 1127 is specifically aimed at extending the time to pay the tax owed, not the filing of the tax return itself. This distinction highlights the IRS's efforts to accommodate taxpayers facing genuine hardships, allowing them to avoid additional penalties as they manage their financial difficulties.
Lastly, Form 1138, "Extension of Time for Payment of Taxes by a Corporation Expecting a Net Operating Loss Carryback," resembles Form 4868 in its provision for postponing tax-related deadlines under specific conditions. In this case, Form 1138 allows corporations anticipating a net operating loss to defer tax payments. While aimed at different taxpayer groups, both documents emphasize the IRS's recognition of varying financial situations and its provision of mechanisms to address these through extensions.
The similarity between IRS Form 4868 and Form 4768, "Application for Extension of Time To File a Return and/or Pay U.S. Estate (and Generation-Skipping Transfer) Taxes," also deserves mention. Form 4768 provides an extension for filing estate tax returns and/or paying the due taxes, akin to how Form 4868 applies to individual income tax returns. Both forms exemplify the IRS's comprehensive approach in granting taxpayers additional time to fulfill their filing and payment obligations under numerous and diverse circumstances.
Dos and Don'ts
Filling out the IRS Form 4868, the Application for Automatic Extension of Time To File U.S. Individual Income Tax Return, requires attention to detail. This form allows taxpayers to obtain an additional six months to file their U.S. individual income tax return. However, there are specific dos and don'ts that individuals should pay careful attention to in order to avoid common mistakes and ensure the process is handled correctly.
Do:
- Ensure you have all your personal information accurate and current, including your Social Security Number (SSN) and address.
- Estimate your tax liability for the year as accurately as possible based on your available information.
- Pay any estimated tax due by the original filing deadline to avoid or minimize penalties and interest.
- Check the specific requirements for taxpayers who are out of the country or living in a federally declared disaster area, as these situations may have different rules.
- File the form by the deadline, typically April 15, unless the date falls on a weekend or holiday, in which case the deadline is the next business day.
Don't:
- Assume that filing Form 4868 gives you an extension to pay your taxes; it only extends the time to file your return.
- Forget to check whether your state requires a separate extension form if you need more time to file your state tax return.
- Overlook the need to file Form 4868 if you're expecting a refund but need more time to file. Filing the form avoids any potential issues with the IRS.
- Ignore the IRS if you mistakenly miss the deadline to file Form 4868. Contact them as soon as possible to explain your situation and seek guidance.
- Rely solely on postal services if you're close to the deadline; consider electronic filing options through IRS-approved e-file providers.
Proper attention to these guidelines when completing and submitting IRS Form 4868 will help taxpayers avoid common pitfalls, ensuring that they remain in good standing with the IRS while securing the extra time they need to file their income tax returns.
Misconceptions
When it comes to tax filings, misunderstandings can lead to mistakes. This is especially true for the IRS Form 4868, which is an application for an automatic extension of time to file U.S. individual income tax returns. Here are five common misconceptions about the Form 4868:
Many people believe that filing a Form 4868 will give them an extension to pay their taxes. However, this is not the case. The extension only applies to the filing of the tax return. Taxes owed are still due by the original deadline, typically April 15.
Another misconception is that filing for an extension is a red flag for IRS audits. There is no evidence to support the claim that filing an extension increases your chances of being audited. The decision for audits is based on various factors, but not directly on filing extensions.
Some think that filing a Form 4868 is complicated and requires extensive documentation. The truth is, the form is quite straightforward and requires only a few basic pieces of information, such as name, address, and an estimate of your tax liability.
There's also a belief that you must explain why you need an extension. The IRS does not require a reason for why you're filing a Form 4868. The extension is automatically granted upon proper filing of the form.
Lastly, many are under the impression that if you do not owe any taxes, you do not need to file a Form 4868 if you can't file your return by the deadline. This misconception can lead to unnecessary penalties. If you are due a refund, filing a Form 4868 can still be beneficial to avoid failure-to-file penalties if you end up owing taxes after all.
Understanding the facts about IRS Form 4868 is crucial for avoiding errors and ensuring the tax filing process is as smooth as possible. Always make sure to meet tax payment obligations on time, even if you have filed for an extension on submitting your full tax return.
Key takeaways
The IRS Form 4868 is the Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. It’s crucial for taxpayers who need more time to file their tax returns. Below are key takeaways regarding how to properly fill out and use this form:
- Form 4868 grants taxpayers an additional six months to file their tax return. Importantly, it must be filed by the original due date of the return, typically April 15th.
- To complete Form 4868, individuals need to provide their name, address, Social Security number, and an estimation of their tax liability for the year. They also need to state the amount of any payments already made.
- Filing Form 4868 does not extend the time to pay taxes owed. Taxpayers are expected to estimate and pay any owed taxes by the original filing due date to avoid possible penalties and interest.
- There are several ways to submit Form 4868, including electronically through the IRS e-file system, using tax preparation software, or by mailing a paper copy to the IRS. The IRS encourages electronic filing for its speed and convenience.
- If a taxpayer is outside of the United States and meets certain criteria, such as living abroad or being on military duty outside the country, they may automatically qualify for a two-month filing extension without needing to file Form 4868. However, interest on any unpaid taxes will still accrue from the original April 15th deadline.
- It’s important for taxpayers to keep a copy of Form 4868 for their records, especially if they are mailing it. This serves as proof of their intention to file and can be crucial if the IRS queries the timeliness of the tax return or related payments.
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