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It’s Tax Day! Need to File a Last Minute Tax Extension?

by Credit.com on 04/15/2010

If you haven't filed your taxes for 2009, it's not too late. You can still make the deadline by filing an extension online – but you'll need to do it today, before midnight.

The IRS allows you to apply for an automatic six-month extension to file your taxes by filing the Application for Automatic Extension of Time to File, Form 4868. This extension gives you until Oct. 15th to file your tax return.  There is a catch though– while an automatic extension gives you a six-month reprieve from filing, it does not give you an extension on the time to pay your taxes if you owe.

So if you haven't done your taxes yet, how are you supposed to know what your estimated taxes are?  There are actually a few free tax estimator utilities available online to help.  H&R Block has a quick and easy one that you can use to help get a quick estimate of what your balance due might be.  Remember, you're just looking for an estimate. It'll also give you an estimated return amount if you're due a refund. 

So now that you have your estimated tax, how do you file the form? It's actually pretty easy! And even though there are websites like FileLater.com that will charge you $17.95 to file the form for you, you can actually do it  yourself –for free.

How to File a Last Minute Tax Extension for Free

Or you can file manually…

  • Manual File - Simply download Form 4868, complete the form, estimate your taxes with one of the free tax estimator utilities, include an estimated payment if you owe and drop it in the mail. You'll need to make sure you visit a post office that's open later to ensure that it's post marked with today's April 15th deadline date.

Hopefully you can breathe a little easier knowing that you have another six-month's. Happy Tax Day!

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Comments

{ 1 comment… add a comment }

Alex Burge April 22, 2010 at 4:51 AM

Thank you for some good advice. I was able to file last hours before time ran out.

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