April 15 is the deadline for filing a federal tax return. But not everybody can meet that deadline. If you need more time to get your paperwork in, make sure you file a Form 4868, Automatic Extension of Time to File, with the IRS by the April 15 deadline and you'll get an automatic six-month extension of time to file. The extension gives you until Oct. 15 to file the tax return.
Remember, a delay in filing your tax return will also delay your receipt of your economic stimulus payment, if you qualify to receive one, since payments are based on the tax return.
Note that an extension of time to file is not an extension of time to pay. You should pay any taxes you owe by April 15; otherwise, the outstanding tax balance will accrue interest and possibly penalties, increasing the total amount you will owe. If you can't pay the full amount that you owe by April 15, pay as much as you can to minimize the interest and penalty charges.
With the deadline approaching, our last-minute reminders may be helpful.
And visit 1040 Central, your one-stop shop for all your tax information needs.
Did you enjoy this blog post? If so, please subscribe right now!
Get this and other great articles from the source at www.ChristopherSPenn.com