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Filing for an Extension
The traditional tax-filing deadline is April 15 every year, except for years when April 15 falls on a weekend. April 15 falls on a Tuesday in 2008 so you have until midnight on Tuesday, April 15 to file your 2007 taxes this year.
If you need fail to meet the deadline, you can obtain an extension by filing IRS Form 4868 by April 15. The extension extends the time to file, but not to pay. You should estimate your tax liability and send any amount you think you owe with the extension.
Believe it or not, the Internal Revenue Service doesn't require a return from some people.
Who Has to File a Tax Return?
The extension grants you six additional months, to October 15, to file an individual income tax return. (If you are living outside of the U.S., you already have two additional months to file. In that case, submitting Form 4868 gives you an additional two-month extension.)
An extension grants you more time to file a return but it likely means paying a penalty on the amount of taxes owed but not paid at the time you file for an extension. For more information, see Form 4868.
2008-07-21 17:04:01
Taxes: Basics
Anyone seeking help with taxes should start with the fundamentals. Here are the basics of taxes.
- Who Must File a Return
- Audits & Penalties
- Taxes on Capital Gains
- Withholding Your Taxes
- Common Tax Credits
- Personal Exemptions
- All About AMT Tax
- Calculate Taxable Income
- Itemizing Deductions
- Filing a Return Online
- 2007 Tax Brackets
- 2008 Tax Brackets
- Standard Deductions
- How to File an Extension
Tax Talk
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