Can’t Make the Tax Deadline? Here’s How to Get an Extension

Tax Day is quickly approaching, with the federal deadline set for April 15. If you find yourself unprepared to file your tax return by this date, there’s no need to panic. There are simple ways to secure more time to complete this task.

According to IRS estimates, approximately 19 million taxpayers requested extensions on their 2023 tax returns. By requesting an extension, you can push back your deadline to October 15, providing you with additional time to gather essential documents or organize your finances.

It’s important to note that while an extension allows you more time to file your federal tax return, it does not grant an extension for paying any taxes you owe. Failure to pay taxes by the April 15 deadline will result in penalties and interest, regardless of whether you’ve filed for an extension.

To file for an extension in 2025, there are several convenient options available. One of the simplest methods is to submit Form 4868, also known as the “Application for Automatic Extension of Time to File U.S. Individual Income Tax Return,” online through tax preparation software like TurboTax or H&R Block. Alternatively, you can utilize the Free File program on the IRS website to file your extension free of charge.

If you prefer traditional paper filing, you can download and print Form 4868 from the IRS website and mail it before the April 15 deadline. Be sure to use certified mail or another trackable delivery method to confirm timely submission. Additionally, you can make a payment towards your estimated tax liability through the IRS Direct Pay system, the Electronic Federal Tax Payment System, or with a credit/debit card. Selecting “extension” or “Form 4868” when making your payment will automatically grant you an extension to file without the need for a separate submission.

When filing for an extension, be prepared to provide your name, address, Social Security number, an estimate of your total tax liability, the amount already paid through withholding or estimated payments, and the remaining balance paid with your extension request. It’s essential to note that these guidelines apply to federal tax extensions only, as state tax processes and deadlines may vary.

There is no fee associated with filing a tax extension with the IRS, as the extension request itself is free. However, if you opt to use a tax preparation service or software, they may charge a fee for this service. Additionally, a processing fee will apply if you choose to pay your estimated tax liability by credit card when requesting an extension.

If you owe taxes, you can still file for an extension. This is particularly crucial if you are unable to pay your full tax bill by the deadline. Filing an extension can help you avoid the failure-to-file penalty, which is typically 5% of the unpaid taxes for each month your return is late, up to a maximum of 25%.

In cases where you need more time to pay your tax bill, the IRS offers several payment options. For those able to pay within 180 days, a short-term payment plan can be applied for online with no setup fee. However, penalties and interest will continue to accrue until the balance is paid in full. Larger tax bills may qualify for a monthly payment plan, with setup fees ranging from $22 to $178 depending on the application method and payment preferences.

Individuals experiencing significant financial hardship may be eligible to settle their tax debt for less than the full amount. This option is only available if the IRS determines that full payment is unattainable. Additionally, if paying your tax debt would hinder meeting basic living expenses, you can request a temporary delay in collection until your financial situation improves.

To explore these payment options, visit the IRS website or contact the IRS directly using the provided phone number on your bill or notice. Remember, even if you cannot pay the full amount owed, it is crucial to address your tax obligations promptly. Filing your return or extension on time, paying what you can, and arranging for the remaining balance is the recommended approach.

By understanding the process of filing extensions and setting up payment plans, you can navigate tax season with less stress, even if you miss the April 15 deadline. For more information on taxes and the IRS, check out additional resources on Money’s website.