You are required to provide an estimate of your income tax liability when you apply for an extension. So if you owe income tax to the IRS that year, you will have to pay your total tax liability (or at least 90%, to avoid the late payment penalty) along with your extension application. Once you obtain an extension, make sure to file your tax return by the extended due date if you want to avoid penalties.Īnother important factor to remember is that getting a tax extension does not change the due date for paying your taxes. If you file your extension request after this deadline, you will not be eligible for one. First, the tax extension application must be submitted by the original filing deadline (April 15) in order to be accepted by the IRS. Once your request is approved, your tax filing deadline will move forward to October 15, giving you ample time to get your tax paperwork in order.īefore you file for a tax extension, there are certain things you should remember. For this you will need to submit a tax extension application ( Form 4868) to the IRS. If you don’t think you can file your taxes on time and you need some extra time to prepare, you can easily get an additional 6 months to file your return without facing any penalties.
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