Time for Taxes!
Tax time has arrived. The final day to file without extension on income earned in 2016 and pay your taxes is April 18th. If you haven’t filed yet, forgot to file, or simply haven’t had time, you can file an extension without penalty on or before April 18th. This extension allows you to extend your filing (not the estimated payment) to October 16th, 2017.
Note that this option extends the time to file your tax return, but does not extend the requirement to pay the taxes. If you don’t pay an estimate of your tax owed, you will owe penalty and interest.
Tax Extension Filing Process
There are three ways to request an automatic extension of time to file a U.S. individual income tax return.
- You can pay all or part of your estimated income tax due and indicate that the payment is for an extension using Direct Pay (direct transfer from your bank account), the Electronic Federal Tax Payment System, or using a credit or debit card. You can also pay by phone using the Electronic Federal Tax Payment System.
- The Form 4868 can be filed electronically by accessing IRS e-file using your home computer or by using a tax professional who uses e-file.
- A paper Form 4868 can be filed and with it, you can enclose payment of your estimate of tax due.
If you have questions or need assistance requesting an extension, contact Christianson PLLP and one of our experts would be happy to assist!