Daily News header

Get Free Tax Filing Extension in Seconds - Form 4868

By  

April 15, as every TV news show and most newspapers are working hard to tell you, is the day you MUST file your taxes if you are in the U.S.

Of course, as with most TV reports, that is at best a half truth and one which drives a lot of tax payers more than a bit frantic as the day wears on and they discover they are missing some vital form.

Certainly April 15 is the day you are supposed to PAY your taxes if you owe more than has been deducted or prepaid over 2008, but it certainly isn't the day you MUST file all those papers.

On this day of panic around the nation with dramatic scenes of lines around the block at post offices, your best friend is IRS Form 4868.

Fill out a few lines, write a check for your estimated tax liability, and you have an instant, no questions asked extension to file the actual paperwork.

You can even get the form online: www.irs.gov/pub/irs-pdf/f4868.pdf

With just a few seconds work you can delay actual filing for 6 months until mid October.

There are a few points to remember.

First of all, you MUST make a good faith estimate of what taxes you probably owe and pay them by April 15 along with filing Form 4868.

Second, there is no penalty or extra charge for delaying filing, but there will be interest to pay if you don't pay enough.

There is the possibility of being assessed a penalty by the IRS if you don't pay a reasonable estimated amount on April 15.

That can be tricky if you pay $1,000 and owe $20,000 more, but not if you just work for a wage and can come close to paying the right amount or overpaying just a bit to be safe (you get the extra back later when you file the full return.)

If you are short by a small amount you will just get a small bill for the interest.

The tax extension is particularly important for those with complex returns such as online stock traders or others who must fill out page after page of detailed information even though you may know from past experience that you will actually get money back.

Those Post Office lines which we used to see everywhere before electronic filing make for dramatic TV but are more than a bit silly if you know about Form 4868.

John McCormick is a reporter, /science/medical columnist and finance and social commentator, with 17,000+ bylined stories. Contact John through NewsBlaze.

  Please leave a comment here     If it does not display within 10 seconds, please refresh the page

Related Top Stories News

The WHO has confirmed that two people traveled from Guiena by public transportation to Kayes, a city in western Mali on the Senegal River.
Every week we hear updates on the number of infected and dead caused by Ebola but individual numbers aren't the whole story. The WHO projects millions of cases in Africa by next year!
A new Ebola case in the U.S. is reportedly linked to a Doctors Without Border medic who self-reported very early symptoms and was immediately placed in isolation at Bellevue Hospital in New York City.
A second storm will roll in Friday night into Saturday. The storm this weekend could bring locally strong wind gusts on the coast.
Hard Money Lenders make all kinds of loans, particularly high on the list are property loans, commercial business loans , loans to investors seeking to purchase and flip houses and businesses, with sufficient equity.
New issue of The Hollywood Sentinel features a tribute to Robin Williams, Joan Rivers, Lauren Bacall, coverage of the Moira Cue Art Show at Bruce Lurie Gallery, Andy Warhol's Shadows show at MOCA, How to Succeed in Hollywood

 

NewsBlaze Writers Of The Month



Popular Stories This Month

newsletter logo

NewsBlaze
Copyright © 2004-2014 NewsBlaze Pty. Ltd.
Use of this website is subject to our Terms of Service and Privacy Policy  | DMCA Notice               Press Room   |    Visit NewsBlaze Mobile Site