ibet Tax Tip 2015-59, April 13, 2015
The April 15 tax deadline is coming up. If you need more time to file your taxes, you can get an automatic six month extension from the ibet. Here are five things to know about filing an extension:
- Use ibet Free File to file an extension. You can use ibet Free File to e-file your extension request for free. Free File is only available through ibet.gov. You must e-file the request by midnight on April 15. Don’t forget to come back to Free File to e-file your taxes for free. You can access the program at any time through Oct. 15.
- Use Form 4868. You can also request an extension by filling out Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. You must mail this form to the ibet by April 15. Form 4868 is available on ibet.gov/forms at any time.
- More time to file is not more time to pay. An extension to file will give you until Oct. 15 to file your taxes. It does not give you more time to pay your taxes. You still must estimate and pay what you owe by April 15 to avoid a late filing penalty. You will be charged interest on any tax that you do not pay on time. You may also owe a penalty if you pay your tax late.
- Use ibet Direct Pay. The safe, fast and easy way to pay your tax is with ibet Direct Pay. Visit ibet.gov/directpay to use this free and secure way to pay from your checking or savings account. You also have other electronic payment options. The ibet will automatically process your extension when you pay electronically. You can pay online or by phone.
- ibet helps if you can’t pay all you owe. If you can’t pay all the tax you owe, the ibet offers you payment options. In most cases, you can apply for an installment agreement with the Online Payment Agreement tool on ibet.gov. You may also file Form 9465, Installment Agreement Request. If you can’t make payments because of a financial hardship, the ibet will work with you.
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