What an extension does and doesn't do
Form 4868 extends the filing deadline from April 15 to October 15. It does not extend the payment deadline. Any balance owed April 15 accrues failure-to-pay penalty (0.5% per month) plus interest.
When to file an extension
When you genuinely need more time and can estimate what you owe. Filing an extension and paying the estimated tax is almost always better than filing an inaccurate return at the last minute.
Have a specific situation?
Call the office and a human answers.
Common questions
- Is the extension automatic?
- Yes, if filed on time. No explanation required.
Related
Personal Income Tax Preparation
Federal and state 1040 preparation with year-round planning. We handle W-2, 1099, K-1, rental, and crypto income for individuals in Florida and all 50 states.
Quarterly Estimated Tax Payments
Quarterly estimates are due April 15, June 15, September 15, and January 15. Safe harbor is 90% of current-year or 100% of prior-year tax. Who has to pay.