You need to report this info so you can make a tax payment to the IRS when you file your extension. You’ll also need to estimate your tax liability, and look up how much in federal taxes you paid (you can find that on your W-2). And seriously, the form just asks for basic information like your name, address and Social Security number. So, all you have to do to file an extension is fill out Form 4868. But filing a tax extension is pretty doggone easy, and most are automatically approved. Ever try to navigate the IRS website? It’s a maze of schedules and publications. The IRS has a well-earned reputation for making things overly complicated.

2 Is It Easy to Apply for a Tax Extension? 1 However, filing an extension can help you avoid big failure-to-file penalties, which are 5% a month up to a max of 25%.

If you owe taxes, they’re due on Tax Day, and if you don’t pay by Tax Day, you’ll rack up late-payment penalties (0.5% of your tax bill a month up to a max of 25%) and interest.

Use one that’s on your side-Ramsey SmartTax.īut fair warning: An extension doesn’t buy you more time to pay your taxes. Don’t settle for tax software with hidden fees or agendas.

Form 4868 download