This Thursday, April 15th at midnight taxes are due. If you need an extension to file, you have until April 15th at midnight to file Form 4868, requesting an automatic extension through IRS Free File. The extension gives you an additional six months, until Oct. 15, to file the tax return.
Even if you’re asking for an extension to file, if you think you’re going to have to pay taxes, you have to estimate what you owe and pay it this week when you request the extension. You can pay by electronic funds withdrawal, credit card and check.
If you can’t pay the total balance you think will be due, you should pay as much as possible and then contact the IRS about an installment plan. Doing this will avoid the failure-to-file penalty.
Happy filing, start organizing from the beginning for an even better next year–and just think of how great you’ll feel when it’s done!