Determine what you need to know about filing an extension on your taxes.
Tax Day is around the corner. It’s time to file your income taxes, or request an income tax extension. Filing an extension helps to give you a little extra time to file your taxes. Learn all about requesting a tax extension so that you can get your taxes settled.
About Tax Extensions.
To extend the filing period for your 2016 taxes, you must submit the necessary paperwork by April 18, 2017. You will then have six months (October 17, 2017) to file your income taxes without late-filing penalties. However, it’s important to note that filing an extension only extends the deadline for you to file your taxes. Any owed taxes from 2016 are still due on April 18, 2017. Keep in mind that this sort of extension applies to federal income taxes. Check your state income tax rules for specifics in your state, as these extension rules vary.
Why Extend the Deadline.
People choose to extend their tax deadline for a variety of reasons. While you shouldn’t be extending your deadline for extra time to pay your taxes, if you need more time to file due to special circumstances, an unexpected life event, or a missing tax document, extending your deadline can be the right decision for your needs.
How to Extend the Deadline.
When extending your tax deadline, you have several options. You can e-file for an extension, or you can mail in the appropriate form. Determine which method works best for your needs so that you can file your taxes appropriately.
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