Ways to file a tax extension
You need to prepare beforehand to file your tax returns around the end of every financial year. Suppose if you are busy and do not have much time you can request a six-month filing extension by submitting the right form to the internal revenue service. Form 4868 is the application for tax extension of time to file US individual income tax return. Requesting an extension is not a tedious task it can easily don’t electronically or on paper.
Electronic filing
E-file is the electronic filing system of IRS which lets you send in tax forms including form 4868 straight to the IRS computers. By filing this form 4868 electronically through IRS e-file from your personal computer or with a help of tax professionals who uses e-file, the taxpayers can help themselves by getting an extension of time to file their tax returns. The IRS would notify you by sending an electronic acknowledgment which you can file along with your tax records. If you earn around $64,000 as an adjusted gross income you can use the brand name software at no cost from the free file. The taxpayers are benefited largely by this free file service with e-file options and free federal tax preparations. There is a tie-up between IRS and commercial tax software companies which offer fillable form tools for those who get a gross income above $64,000.
Filing my mail
Filing by mail is a substitute for electronic filing. You can also get the form 4868 in the paper version which can be downloaded from the IRS websites, if not you can also request for the form to be mailed to you by filling out an order form on the IRS website. Alternatively, you can also call to the IRS to apply for a form. But if you are a taxpayer who falls on a fiscal year it becomes a necessity to file form 4868 in paper form.
Extension time from state levels
Every state has its own rules and regulations for tax extensions. While some may offer a six-month period of extension to all taxpayers uniformly and others have to request for an extension of time by filing a specific form on or before your return’s original due date. In certain states, the tax is never imposed hence you file neither a return nor an extension request. You can generate the form using commercial tax preparation software or it could be easily found in the state jurisdiction’s website. As per the rules of the state authorities you can extend more time only to file your returns and not to pay your taxes. To avoid penalties and interest you can pay a sum that you might owe and present it as a payment to the tax powers.