Filing Deadlines And Obtaining An Extension

April 15th is known to Americans as Tax Day -- the due date for most federal individual income tax returns. Occasionally a taxpayer may need additional time to gather the information necessary to complete the return. The IRS allows a one-time automatic six-month extension to the filing date, with a final return due date of October 15th. This is only an extension of the filing date. Taxes owed must still be paid on time.

Instructions

1. • 1
     Prepare your return as completely as you can. Follow the instructions for the applicable 1040 Form and fill out as much of the form as possible. Even if you're planning to file an extension, you'll need to have an accurate idea of your tax situation prior to the April deadline.
   • 2
     Follow up on any missing forms or statements needed to complete your filing. If you are missing a W-2 or 1099-R (retirement plan income), for example, contact your employer or account trustee and request one. If they do not cooperate, contact the IRS, which will make the request on your behalf. Follow up all requests in writing and keep copies of all correspondence. If you have to make an educated guess due to not receiving forms on time, you will have proof of your attempts to obtain accurate information.
   • 3
     Estimate the total tax as closely as you can. Penalties and interest accrue on unpaid taxes as soon as the April filing date passes, even if you are allowed an extension. You can avoid penalties and interest, however, if you pay at least 90 percent of your total tax liability by April 15th and pay the remainder by the extended deadline.
   • 4
     Fill out Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. Mail the paper form to the appropriate processing center, along with your payment, if applicable. You can also file Form 4868 electronically and pay by check, credit or debit card, or through the Electronic Federal Tax Payment System (EFTPS).
   • 5
     Submit your payment and an extension form, if applicable, to your state taxing agency as well. Most states accept the federal extension or grant automatic extensions, but some require you to file a state extension form. As with the federal extension, the state extension gives you more time to file but not more time to pay.