Taxpayers may be busy with work, children, house tasks, holiday planning, health problems, and many other issues. The IRS knows that not everyone has enough time to file by the April 15 deadline.
Therefore, they still offer the possibility to file for an extension. So, yes. It is possible to get extra time to file your 2023 tax return. In this way, you will avoid the IRS‘s failure to file penalty.
Do not forget that you should file a request to obtain an extension before the April 15 deadline. What is more, you should not forget to do something which could be costly.
WHEN IS THE DEADLINE TO FILE IF THE IRS ACCEPTS MY EXTENSION REQUEST?
October 15 will be the new deadline if the IRS grants you a filing extension. The problem is many taxpayers do not pay their taxes by the April 15 deadline. For your information, the extension is just for filing.
Hence, taxpayers must pay any tax they owe the IRS. It is true that some American taxpayers qualify for a filing extension automatically. This happens when there is a natural disaster.
For example, an automatic extension may be available if you are currently living outside the U.S., are a military member stationed abroad or serving in a combat zone or your zone has been federally declared disaster area.
WAYS TO GET AN EXTENSION IN MARCH
Some taxpayers simply pay their taxes online and check the box. As you are paying any money you owe the IRS online, tick the box to tell the Internal Revenue Service it is for an extension.
However, make sure you receive a confirmation number of your extension. Another way to get an extension is to use Free File. The last way to request a filing extension in 2024 is to do it by mail.
However, it will take longer. Fill out Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. Then, send it by mail, online or with the help of a tax professional. Estimate your tax liability and pay your taxes.