Filing a tax extension is simple. If you need extra time to work through your tax documents and just don’t think you’ll be able to finish your taxes by the April 18th tax deadline, you can file for an extension.
Once you file the tax extension form, you’ll have until October 17th 2016 to file your taxes (an extra 6 months). This doesn’t mean that you get an extra 6 months to pay your taxes. That’s why it’s so important to estimate you taxes owed and pay them before April 18, 2016. Otherwise, you might end up with penalties and interest to pay the IRS.
Oh and if you still need to file your taxes this year, you can file them for free (even state) here.
How to File a Tax Extension Form1. Estimate Your Taxes OwedYou’ll need to have an idea of how much you owe in taxes because you’ll need to send in the payment before April 18th. Gather all your tax documents and create a rough estimate of what you’ll owe.
2. Download and Complete the Tax Extension FormThe IRS requires you to download and c..