Form 4868
The IRS offers a solution for individuals who need more time to prepare their tax returns: IRS Form 4868, officially known as the "Application for Automatic Extension of Time to File U.S. Individual Income Tax Return."
Contents
Form 4868 is a document you submit to the IRS to request an extension for filing your tax return. Filing this form on time provides an additional six months to prepare and file your tax documents, which is especially helpful if you’re waiting for more financial information, facing a complex tax situation, or simply need more time to gather your records. However, while filing this form extends your filing deadline, it does not extend your payment deadline. You are still required to estimate and pay any tax you owe by the original due date (April 15th for most taxpayers). If you don’t pay at least 90% of your estimated tax by that date, you may be subject to penalties and interest on the unpaid balance.
How to File Form 4868?
1. Filing Electronically (E-File)
Filing electronically is the quickest and most convenient way to file Form 4868. Here’s how to do it:
- Most tax preparation software platforms (e.g., TurboTax, H&R Block) allow you to electronically file Form 4868. If you’re using one of these programs to prepare your return, it will guide you through the process.
- You’ll need to enter your name, address, Social Security number (or taxpayer ID number), and estimate the amount of tax you owe.
- Once the information is entered, you can submit Form 4868 online through the tax software. After submission, you’ll receive a confirmation from the IRS that your extension has been accepted.
2. Filing by Mail
If you prefer, you can download Form 4868 from the IRS website and file it by mail. Here’s what you need to do:
- Step 1: Download and Print the Form – Visit the IRS website to download Form 4868.
- Step 2: Complete the Form – Fill out the necessary information, including your name, address, and Social Security number. You’ll also need to estimate your total tax liability for the year, the amount you’ve already paid (through withholding or estimated payments), and the amount you’re paying with the extension request, if any.
- Step 3: Mail the Form – Once you’ve completed the form, mail it to the IRS before the filing deadline. The mailing address varies depending on where you live, so check the instructions provided with Form 4868 for the correct location.
How to Fill Out Form 4868?
Form 4868 is relatively straightforward and requires the following information:
- Identification (Part I):
- Line 1: Your name and address
- Line 2: Your Social Security number
- Line 3: Your spouse’s Social Security number (if filing jointly)4
- Individual Income Tax (Part II):
- Additional Information:
- Line 8: Check if you’ll be out of the country on the regular filing due date
- Line 9: Check if you file Form 1040-NR and didn’t receive wages subject to U.S. income tax withholding4