by John F Mann

Created on: August 01, 2010

Some years, the normal April 15 "deadline" for filing income tax forms arrives much faster, almost as a surprise! Although there is no need to panic, you must send in the standard form to obtain an automatic 6-month extension for filing (not paying!) your Federal taxes.

You can download the required form (Form 4868) online as discussed below. Print out and complete the form. Although Form 4868 is relatively simple, you must state the approximate amount of tax you expect to owe when you finally send in your actual tax form.  

REASON FOR EXTENSION TO FILE

Other than just needing more time to get organized, the basic reason for obtaining an extension to file Federal taxes is to avoid the Late Filing Penalty, which can be 25-percent of any additional tax you may owe with the eventual tax return.

It is essential to understand that you will be charged interest and a separate penalty (Late Payment Penalty) if you do not pay any amount that may still be owed when you finally file your tax return.

HOW TO OBTAIN FORM 4868 (AUTOMATIC EXTENSION TO FILE)

To download Form 4868 from the IRS web site, perform the following steps;

(Step 1) - Do a search for "IRS forms" and find the IRS site, or (more simply) click on the following link; http://www.irs.gov/formspubs/index.html

(Step 2) - At top of the menu, under "Download forms and publications by:", click on "Form and Instruction Number (PDF)". If you do not have the Adobe Reader software (which allows you to work with pdf files), there is a link to download Adobe Reader after you find Form 4868.

(Step 3) - Scroll down the list until you find Form 4868, or type "4868" into the "Find" box above the list of forms.  When you click the "Find" button, a listing for Form 4868 appears (along with Spanish version).  When you click on "Form 4868" the pdf file will appear. You can download and save this file on your computer or onto a CD. Of course, save the file to a folder that you will easily remember so that you can retrieve Form 4868. With the current Adobe Reader, you can also fill in the form online and print it out.

As with other tax forms, the IRS has made it relatively easy to file forms online, including Form 4868. See instructions with Form 4868 or with any other tax form.

Realize that for tax year 2009 you needed to file Form 4868 by April 15, 2010 (or thereabouts). The IRS web site still has the 2009 extension form listed (Form 4868), although it is no longer useful.

For this tax year (2010), you must file

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