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What is Form 4868?
Form 4868, ‘Application for Automatic Extension of Time to File U.S. Individual Income Tax Return,’ is the IRS form that individual taxpayers use to request an automatic six month tax extension for their federal tax return (Form 1040).
Although a completed form 4868 automatically extends the deadline for filing your return, it doesn’t extend the amount of time you have to pay your federal income tax. Payment is still required on the usual tax deadline.
If you want to file 4868 properly, you’ll have to do the following:
- Estimate your 2023 tax liability using the information you currently have
- Enter your total tax estimated liability on line 4 of Form 4868
- Pay that tax liability by the regular due date
If you pay late, you’ll have to pay interest, and might also incur a late payment penalty. (Even if you file Form 4868.)
Who needs to file Form 4868?
Form 4868 applies to anyone who needs more time to file Form 1040, Form 1040-SR and Form 1040-NR.
If you need more time to file other tax forms, use Form 7004 to request a six month extension.
How to file it
Form 4868 is a simple, one page form from the IRS that looks like this:
It’s divided into two parts:
Part I will ask you for your personal information, including your name, address, social security number and spouse’s social security number. For nonresident and resident aliens without an SSN, an individual tax identification number (ITIN) can be used in its place. If you’re in the process of getting an ITIN, you can put “ITIN requested” where an SSN is required.
Part II is where you’ll estimate your total tax liability and payment for 2023.
Use Line 4 to record the total tax liability you expect to report on the following tax forms:
- Form 1040 or 1040-SR, line 16
- Form 1040-NR, line 61
- Form 1040-NR-EZ, line 17
- Form 1040-PR, line 6
- Form 1040-SS, line 6
Record any tax payments you’ve made for the 2023 tax year so far on Line 5. Subtract Line 5 from Line 4 to get your total tax due (Line 6). Record the total amount you intend to pay on Line 7.
(Remember: if you fail to pay your taxes by the regular deadline, you will pay interest charges, and might also incur a late filing penalty.)
Check the box on Line 8 if you’re a U.S. citizen and are out of the United States at the time of filing, and the box on Line 9 if you didn’t receive wages as an employee subject to U.S. income tax withholding.
When is 4868 due?
The filing deadline for Form 4868 is April 15, 2024, the date you would have filed your income tax return.
Where to file form 4868
You can file a paper Form 4868, along with an enclosed tax payment (in the form of a check or money order) to one of the following addresses provided by the IRS. (Which address you end up sending to will depend on which state you do business in, and whether or not you’re including a payment.)
Can you file 4868 electronically?
Yes. You can e-file Form 4868 through the IRS e-file service using your computer, or by using a tax professional who uses e-file.
Can you make a 4868 payment electronically?
Yes. You can pay the balance due you reported on Line 6 three different ways:
- Directly from your bank account using the IRS’s Direct Pay service;
- Using the Electronic Federal Tax Payment System (EFTPS);
- Over the phone, using a debit or credit card
For more information about making payments to the IRS, go to www.irs.gov/Payments.
How Bench can help
No one enjoys the tax preparation process—especially if you’re a business owner. Between self-employment taxes, tallying tax credits and deductions, and brand new forms to figure out, it’s understandable why you might need an extension on your tax filing.
But if you want someone on your side helping you figure out every step of taxes along the way, try Bench. We’re America’s biggest bookkeeping service and we provide tax filing and advisory services to our clients. You get access to unlimited, on-demand tax consultations to figure out what you need to be tax ready, minimize your tax bill, and improve the process for next year. Learn more about Bench’s bookkeeping and tax filing services.
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