It's tax season again! It's actually almost over. Are you prepared? Have you filed yet? If not, the best thing to do at this point is file an extension. Filing an extension is super easy. I tell you how to do it. But first, let's talk about what an extension is and what it is not. An extension is a way to ask the Internal Revenue Service for more time to file a tax return. The deadline to file your 2012 return is April 15, 2013.
Form 4868 will extend the deadline by six months. With an extension, your deadline to file a tax return is extended to October 15, 2013. However, an extension of time to file is not an extension of time to pay. Tax payments for the year 2012 are still due by April 15, 2013.
Payments of tax made after April 15th are subject to penalties and interest. Some taxpayers may be eligible for a waiver of the late payment penalty for year 2012 taxes.Feel free to download the form here as well.
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Source: About.com
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