The standard deadline for filing your tax returns is over, since the famous “Tax Day” was on April 15, that is, last Monday. So, you should have already filled out your tax return, and it would only remain to pay your taxes due, when you are ready for it.
But, if this April 15th you were not ready to file your taxes, for any valid reason whatsoever, the Internal Revenue Service (IRS) offers the possibility of requesting an extension of time, but beware, because that is not a delay in the deadline for paying your taxes, only the filing of your return. Let’s talk about how to request an extension from the IRS and what exactly can be done with that right.
Filing an Extension for Your 2023 Income Tax Return
Applying for a six-month extension is easy and the IRS offers a free way to do it. In some special cases, such as when there are natural disasters, the IRS may automatically extend the tax filing deadline, without the need for taxpayers to contact them to request this extension. For example, due to severe storms in Michigan, the deadline was extended to June 17.
This extension applies to both the filing of returns and the payment of taxes that are normally due on April 15. The IRS website provides more details about these special situations and how they affect tax deadlines.
The tax relief applies to any area designated by the Federal Emergency Management Agency, including Eaton, Ingham, Ionia, Kent, Livingston, Macomb, Monroe, Oakland, and Wayne counties. Individuals and households who reside or have a business in these localities qualify for the tax relief and extension of the term. But attention, that this is only for this particular case, and for other specific cases that the IRS and the federal government will define in the future. In the rest of the country, the deadlines are still those stipulated by law.
Step-By-Step Guide to File a Tax Extension
You have several options to request your extension of time to decorate taxes from the IRS, but they all start by filling out Form 4868. This is the one that provides an extension of an additional six months, after the “Tax Day”, and you will be able to file your return in this period of time.
You can submit the form online, using the IRS Free File tool, and it will be received by the agency electronically. However, if your preferred way is by post, you can also send it there, but keep in mind that the reception is not immediate, nor is the response.
The deadline to submit Form 4868 is April 15 or the next business day if it falls on a weekend or holiday. If you submit the form after this date, it will not be considered a valid extension request.
Form 4868, also known as the Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, grants taxpayers an extension until October 15 to file their taxes. This extra time can be invaluable for those who need to gather necessary documentation or seek professional assistance to accurately complete their returns.