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When you are having trouble filling out tax forms or need time to put your receipts and other financial records in order you may need to file a tax extension.
The IRS allows you to file for an automatic, six-month extension using Form 4868 without incurring interest and penalties. The extension does not exempt you from paying any taxes you owe by the original filing deadline. You do not have to provide the IRS with an explanation for the request. When you file for an extension, you must estimate your tax liability for the year and, though you don’t have to pay the full amount due, you may have to pay interest on what you owe when the extension expires. Remember, you must file form 4868 and pay all or a portion of estimated taxes owed on the date taxes are due in April of the current year.
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified tax lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local tax attorney to discuss your specific legal situation.