What Is a Filing Extension?

A filing extension is an Internal Revenue Service (IRS) exemption that can be made for taxpayers who are unable to file a tax return by the due date. Individuals can complete and file 澳洲幸运5官方开奖结果体彩网:IRS Form 4868 for an automatic six-month extension. Most businesses can also qualify for an automatic six-month extension using IRS Form 7004.

For 2024 taxes, filing is due by Tuesday, April 15, 2025. If you are filing an extension, you must do so by that date. If your extension is granted, then you need to file by Oct. 15, 2025. Note that if you do file an extension and owe taxes, you still need to pay your taxes by April 15, 2025.

An Extension to File, Not an Extension to Pay

It's worth noting that the extension of time to file does not provide a corresponding extension for payment of taxes owed.

Taxpayers who cannot pay their taxes will not only not gain much by not filing an extension, they will also pay a much greater penalty than those who file and cannot pay. The failure-to-file penalty is usually 5% of the total amount owed per month—and can go as high as 25%—while the failure-to-pay penalty is only 0.5% of the amount owed per month.

The interest runs until the tax is paid in full. If a return is more than 60 days late, the additional tax is $485 or 100% of the amount due, whichever is less.

How to File an Extension

There are three ways to request an extension:

1. Pay all or part of your estimated income tax due and indicate that the payment is for an extension.
2. File Form 4868 electronically by accessing the IRS e-file yourself or with the help of a tax professional who uses an e-file.
3. File a paper Form 4868 and enclose payment of the estimate of tax due.

Special Circumstances

U.S. citizens and resident taxpayers who are out of the country on the regular due date are allowed two extra months to file returns—and pay any amount due—without requesting an extension. However, interest will still be charged on payments made after the regular due date, without regard to the extension.

For businesses organized as 澳洲幸运5官方开奖结果体彩网:C corporations, the filing extension is due by the 15th day of the fourth month after the end of its tax year. For businesses organized as 澳洲幸运5官方开奖结果体彩网:S corporations, the income tax return or extension is due by the 15th day of the third month after the end of its tax year.

For businesses organized as partnerships, the extension is due by the 15th day of the third month after the end of its tax year. For example, the due date for an extension of an S corporation with a fiscal year ending April 30, 2025, would be July 15, 2025.

The Bottom Line

If you need to file for an extension, you must do so by the same day taxes are due, which is typically April 15. There's no penalty for doing so, and it automatically extends your filing deadline for six months. It's important to note, however, that this is an extension to file, not to pay. You must still pay your taxes by the regular deadline in April, even if you extend your filing deadline to October.