What’s A Procrastinator To Do: Should You File An Extension For Your Personal Income Tax Return – Form

income tax return formApril 15 is fast approaching but there’s no way you can get your personal income tax return done by so.

Now you have six more months to file your personal income tax return. Do you know an answer to a following question. What’s a procrastinator to do, this is the case right? Read on to understand. You can automatically extend the April 15 due date to October 15 by filing Form 4868, Application for Automatic Extension of Time To File Individual Income Tax Return. File an extension, for sure. Of course perhaps you are wondering whether so that’s top-notch option for you.

The nice thing about Form 4868 is that simply filing this form grants an automatic, no questions asked 6month extension. You don’t necessarily ought to have a reason. Notice that just sending this form to the IRS on or before April 15 gets you the extra six months. Here’s another important point about Form This 6month extension is NOT an extension to pay any tax you may owe on the tax return. Form 4868 only grants an extension of time to file the tax return.

Therefore in case you usually get a refund on your personal tax return, you are OK.

Great, if you are getting a refund. File the extension form and wait until October 15 to send in the return, So if you’re not in a hurry to get the refund. If you think you consequently you should go ahead and prepare the return to some quality stuff from your ability, do the calculations, and see where you stand. With that said, you must send in your balance due with Form That way you avoid any penalty and interest for late payment of tax, if you have a balance due on the return.

While showing the Form 4868 payment as a credit, when October 15 rolls around, you send in the return. Obviously, the key we have whether you have a balance due on your return. For awhile being that you filed the extension form on time. If you have a balance due, so do not send in the payment with orm 4868, you will have penalty and interest charges for paying the tax after April 15. The end result is this.

Bottom line.

SelfEmployedTaxDeductionsToday. Furthermore, it only gives you an extension of time to file the return. It’s a well do not overlook the fact that Form 4868 does not grant you an extension of time to pay the tax. Usually, bonus Tip -To get your copy of the free TaxSaving Guide, Top 10 Tax Deductions for Small Business Owners ‘SelfEmployed’ People, visit http.

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