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Here’s how to file a tax extension that’s just two weeks before the IRS deadline

More than halfway through the 2022 tax season, it is still possible to apply for an extension.

We explain everything you need to know about the deadline and how to request more time.

We explain how to file a tax return extension

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We explain how to file a tax return extensionPhoto credit: Getty

When is the tax return deadline?

Individual tax returns are generally due by April 15th.

However, April 15 this year falls on a Friday, Emancipation Day in Washington, DC

All public offices in DC will be closed.

Therefore, the due date for filing individual tax returns and tax payments this year is Monday April 18th.

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There are a few exceptions. Maine and Massachusetts have until Tuesday, April 19th.

April 18 is an official holiday in these two states, Patriot’s Day.

How to file a tax extension

Monday 18 April is also the deadline to apply for a six-month tax return extension.

You can apply for an extension from the IRS in three different ways.

Both options give you until October 18 to file your tax return, but it doesn’t give you an extension to pay your taxes.

You should still estimate and pay any taxes owed by the April 18 deadline to avoid potential penalties.

Who has to file a tax return?

To know whether or not you need to file an application, complete this checklist on the IRS’s website.

You will need your filing status, which is linked to your marital status and determines which tax form you need to fill out.

You’ll also need your federal income tax withholding status, which you can calculate here, and basic information to help you determine your gross income.

In order to file your tax return, you must first prepare a few things.

USA.gov has outlined the first steps you need to take that you can look for help.

One of those steps is to get a W-2 form from each of your employers, as this form will show your annual wages and the amount of taxes withheld from your paycheck.

You must also have other income and interest certificates to hand.

Again, you need to know your registration status, which depends on whether you are married.

You can submit your tax return online and find out more about the options for electronic filing here.

You must also submit your application for an extension by the regular due date of your return at the latest.

Individual taxpayers, regardless of income, can use Free File to request an automatic renewal.

The IRS software also allows you to create and file your tax return for free.

Alternatively, you can obtain an extension by paying your estimated income tax due and stating that the payment is for an extension.

This is available when paying with Direct Pay, the Electronic Federal Tax Payment System (EFTPS), or a credit or debit card

This eliminates the need to submit a separate renewal form and provides you with a confirmation number for your records.

Or third, individuals can file paper Form 4868 and include payment of your estimated taxes due.

You don’t have to explain why you’re requesting an extension, and the IRS will contact you if your request is denied.

What happens if I don’t fill out a tax return?

If you don’t file your tax returns on time, you could be fined hefty by the IRS.

You could get a “late payment penalty” for each month you are late filing your tax return, which is typically 5% – but can go up to 25% – of your unpaid taxes.

If you are more than 60 days late in filing your tax return, you will be fined $435 or 100% of the tax you owe, whichever is less.

In other words, if you know you won’t be filing on time, make sure you apply for an extension.

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