Countdown to Tax Day- If You Need More Time …

April 15th is right around the corner. Are your taxes already done, or will you be sending in your taxes right before the deadline?

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For many people, there is some anxiety surrounding tax day, either because they cannot submit their tax return on time, or they cannot pay the tax due by April 15th. If you fall into either category, relax! There are things you can do to give you more time to file and pay your taxes.

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If you need a little more time to do your taxes, have no fear. You can request an extension of time to file electronically or using a paper form. To submit it electronically, just go to any one of IRS’s FREE FILE providers to request for an automatic SIX MONTH extension. You can submit this extension request regardless of your income. If you prefer to mail in the extension request, use Form 4868 and mail it to the appropriate address as indicated in the form.

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If you have your return ready but you can’t pay your taxes, you can request an extension of time to pay. The extension of time to file IS NOT the same as an extension of time to pay. If you need more time to pay your tax, you have to complete a different form. You will need to complete Form 1127 in order to get more time to pay your taxes. Granting a payment extension is at IRS’s discretion, and they do not promise that everyone will be allowed more time to pay. They generally only allow it under hardship circumstances. But it never hurts to try, especially if you cannot afford to pay by April 15th.

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If you have other IRS questions, feel free to contact me for a FREE consultation. I’d love to help you!

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