By what method to file your Tax Extension to the IRS

Filing an extension could be described as asking the Internal Revenue Service (IRS) for extra time in order to file a tax return.

This is basically a simple task so before an extension is filed it should be properly understood what exactly an extension can and cannot do.

In the US, the deadline to file personal tax for the year 2015 is April 18th 2016. So by filing a Form 4868 to the IRS, the extension could be extended up to six months, which would work out the new deadline to file returns as October 17th 20116. But an important point to note is that all payments for the 2015 will be due by original 18th of April 2016, and that the extension would not provide a person any additional time to pay, and the IRS would charge interest, and in some instances – penalties, for taxes payed after the 18th of April.

Below listed is how tax returns are to be filed:

• Firstly it is important to create a draft on the tax return which would help in getting a sort of idea on whether there would be an actual refund or if payments might have to be made.
• The Form 4868 should be downloaded. This is the PDF Application for the "Automatic Extension of Time to File US Individual Tax returns". Once this is done, the form should be filled out, and if taxes are owed, a check for the amount should be made out for the approximate amount.
• The check would then have to be mailed out along with the extension form. It is important that the extension should be postmarked on or before the 18th of April or the deadline of the 19th of April.
• It is also possible to file the extension online, but it is important that the form should be completed before midnight on the day of the deadline. As the form would take anywhere in the region of between 5 to 20 minutes to do the extension online, in order to finish by the midnight deadline, you should be mindful of filing it out before it closes.

Important points to note are:

If for some reason or the other you are unable to pay the taxes in full by the time of the deadline, at least a partial payment (or as much as you can) should be paid before the April deadline and the balance could be paid by the time of the October deadline. It is also possible to set up an agreement with the IRS to pay the balance in an installment basis.

The IRS also has IRS Approved Credit and Debit card services where by it is possible to pay taxes using your Credit or Debit card. But it is important to note that since this is done by a third party, there could be a service charge or fees in order to do the processing. So if you pay part or the whole of the tax estimate using a credit or debit card, a 4868 Form will not be needed to be filed and the payment will be taken as the extension.

The Direct Pay Service on the IRS website could also be used in order to make payments, and if it is marked as an extension, the IRS will file the extension and it will not be needed to fill out the 4868 Form.