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Tag Archive for Form 4868

Penalty Relief For The Procrastinating US Rental Property Owners Return Filing

So, you’re a Canadian, or other non-US citizens, who own and rents out US property, hasn’t yet obtained an ITIN and you don’t expect to make your June 15, 2018, 1040NR filing due date. No worry, go ahead and file an extension request on Form 4868 by writing “ITIN to be requested” on SSN line of the form.

Note – if US tax is due and paid after June 15, then the late payment penalty (usually ½ of 1% of any tax) and related interest does arise. But your extension is assisting you regarding the late filing penalty (usually 5% of the amount due for each month or part of a month your return is late; the maximum penalty is 25%) that is usually charged if your return is filed after the due date – as such due date includes extensions. Read more

Filing Season Is Here – Did You File Your Extension?

John Dundon

Tax day is upon us – remember to at least get you application for automatic extension request electronically filed or post marked today using IRS Form 4868.

Keep in mind this extension request is for additional TIME TO FILE the income tax forms. It is NOT a request for an extension of TIME TO PAY income taxes due.

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More Time To File, More Time To Procrastinate

Barry Fowler

Yes, this year taxpayers have an extra 3 days to get their taxes filed or to file for an extension. And whenever a procrastinator is given more time, they will inevitably stay true to their nature and put off filing until the very last minute.

This behavior is so well known to professional tax preparers and firms that the Wall Street Journal recently published an entire Read more

Need More Time to File Your Taxes?

Peter Flournoy

The April 18 tax deadline is coming up. If you need more time to file your taxes, you can get an automatic six-month extension from the IRS. Here are five things to know about filing an extension:

1.Use IRS Free File to file an extension. You can use IRS Free File to e-file your extension request for free. Free File is only available Read more

Important Date For Taxpayers Living Abroad

If you are a U.S. citizen or resident alien living and working (or on military duty) outside the United States and Puerto Rico, June 15, 2015 is the filing due date for your 2014 income tax return and to pay any tax due. If your return has not been completed and you need additional time to file your return, file Form 4868 to obtain 4 additional months to file. Then, file Form 1040 by October 15, 2015. However, if you are a participant in a combat zone, you may be able to further extend the filing deadline (see below).

Caution: This is not an extension of time to pay your tax liability, only an extension to file the return. If you expect to owe, estimate how much and include your payment with the extension. If you owe taxes when you do file your extended tax return, you will be liable for both the late payment penalty and interest from the due date. Read more

How To File For An Extension

If you believe that you will not be able to file your tax return by the due date (generally April 15) you can apply for an automatic six-month extension of time to file, by filing Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. With the 6-month extension, you must file your tax return by October 15.

It is very important to note that when you file for an extension, you are only requesting an extension of time to file, and NOT an extension of time to pay. Therefore, you have an obligation to make an accurate estimate of your tax liability for the year, and pay the amount due by regular due date (April 15). If you do not pay the taxes due, you could be hit with a penalty. Read more

Automatic Extension Request of Time to File Personal Income Taxes: IRS Form 4868

Income tax forms and payment are due AGAIN. Don’t sweat it, file IRS Form 4868 today!

Remember this is an Automatic 6 month Extension Request for time to file IRS Form 1040 only.

It is not an extension of time to pay your federal and (where applicable) state income taxes.  You are always best served estimating your tax liability and paying that liability in full to the US Treasury as well as with most all states on or before April 15th. If you cannot pay what you estimate you owe, STILL FILE IRS FORM 4868 to secure your automatic extension request.

Why?

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Application For Automatic Extension of Time To File U.S. Individual Income Tax Return – IRS Form 4868

Everyone starts getting a little freaked out this time of year because of personal income tax reporting and paying obligations due on April 15th. I have found through the years that this kind of pressure causes people in all walks of life to make poor judgments and less than fully informed decisions just to hit a deadline.

The point of this post is to inform you that it is okay to file an application for a six month automatic extension of time to file your United States individual income tax return and NOT TO WORRY IF YOU ARE BEHIND THE CURVE THIS YEAR. There are many reasons why you may need an extension of time to file your taxes that are all fully legitimate including:

1. life changing events, Read more

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