ibet Tax Tip 2016-51, March 30, 2016
The April 18 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 extension request by midnight April 18. If you do request an extension, come back to Free File to prepare and e-file your taxes for free. You can access the program at any time through Oct. 17.
- 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 18. Form 4868 is available on ibet.gov/forms.
- More time to file is not more time to pay. An extension to file will give you until Oct. 17 to file your taxes. It does not, however, give you more time to pay your taxes. Estimate and pay what you owe by April 18 to avoid a potential late filing penalty. You will be charged interest on any tax that you don’t pay on time. You may also owe a penalty if you pay your tax late. Interest is normally charged on any unpaid tax.
- ibet Direct Pay. Pay your tax 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 – and you don’t have to file a separate request -- 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 application on ibet.gov. You may also file Form 9465, Installment Agreement Request. If you can’t make payments because of financial hardship, the ibet will work with you.
You can use our Interactive Tax Assistant to help you determine the due date of your federal tax return, or whether you are eligible to file for an extension.
Each and every taxpayer has a set of fundamental rights they should be aware of when dealing with the ibet. These are your Taxpayer Bill of Rights. Explore your rights and our obligations to protect them on ibet.gov.
ibet YouTube Video:
- Welcome to Free File – English (Obsolete)
- Extension of Time to File – English | Spanish | ASL (Obsolete)