Your Income Tax Extension Time Is Up
If you did not complete your federal tax return by the April 15 deadline and filed for an extension, you have until October 15 to wrap things up.
Taxpayers who needed more time to file their 2008 tax return and bought more time by filing an extension, moved the deadline back six months to October 15, 2009 thus avoiding IRS late-filing penalties.
Plan Ahead to File Late in 2010
If you think you will need more time for filing your 2009 taxes (planning to procrastinate – there’s a good topic for your therapist!) you can do it easily. There’s a catch, though: the extension only pushes back the due date of the paperwork. If you owe money, you need to estimate the amount, then file your extension and make your payment by April 15, 2010.
There are several ways to file your extension, officially known as IRS Form 4868: Application for Automatic Extension of Time to File.If you’ve already started a return in TurboTax, go back to the TurboTax program and click Apply for more time to file your return on the Get Started page. TurboTax walks you through preparing Form 4868. Then print and mail it in (also including a check if you’ll owe) on or before April 15, 2010. You also can use TurboTax to find out about extensions for state returns.
Alternatively, you can print the form and fill it out by hand. Refer to IRS Form 4868: Application for Automatic Extension of Time to File. Print the form and instructions. Fill out the form and send it to the IRS address for your state.
If you owe federal taxes for 2008, include your payment with your Form 4868 and mail it—postmarked by April 15, 2010. (If you don’t make a payment for the taxes due, you could be liable for penalties and interest, even if you’ve filed for an extension.) Then complete and file your return on or before October 15, 2009.
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