No matter what kind of business you run and ACA Forms you file, chances are, you file some version of the Form 1040 for your personal taxes. And whether it’s Form 1040, 1040A, 1040-EZ, 1040NR, 1040NR-EZ, 1040-PR, or 1040-SS, it’s due Tuesday, April 18, 2017.
Unless that is, you apply for an extension!
That’s right: just like your ACA Forms and business tax return, your personal tax return deadline can be extended with just a little application. That application is Form 4868, by the way, the Application for Automatic Extension of Time To File U.S. Individual Income Tax Returns. And like other extension applications, it doesn’t extend your time to pay any taxes you owe, but it does grant you an automatic 6-month extension to file your tax forms with the IRS*.
*That “with the IRS” bit is important: Form 4868 is a federal form, so it doesn’t extend your state personal tax deadline, but there may be a form available for your specific state you can utilize instead.
To complete Form 4868, you’ll just need to provide your basic taxpayer information (name, address, SSN), the form you normally file, and your estimated 2016 tax liability. In other words, you’ll need to state whether you expect a tax refund or what you plan to pay in taxes for the 2016 tax year. It’s okay if this is a guess, or even incorrect, so just try your best. If your income hasn’t changed much, you can probably even use previous-year returns to make a better estimate. You also have the option to go ahead and pay your taxes when you file Form 4868.
Another point to note about Form 4868: if you plan on filing your taxes jointly with a spouse, you’ll need to indicate so on your application. You’ll also need to provide your spouse’s taxpayer information, including their name, address, and social security number. And, of course, the deadline to have Form 4868 submitted is the same as your tax return deadline (April 18).
Well, you know if we introduced the form to you, we’ve got a way for you to e-file it! You may have heard us mention before about our sister product, ExpressExtension (they also offer the 7004 Extension Form). And if you can put two and two together, you know exactly where we’re going: you can quickly and easily e-file Form 4868 through ExpressExtension!
Just head on over to www.ExpressExtension.com to learn more or to get started! And if you have any questions, you can always give us a call and we’ll put you in contact with a member of our just-as-stellar ExpressExtension support team, or you can call them yourself at (803) 514-5155.