The Tax Day deadline for filing your income taxes is typically April 15, unless you were affected by natural disasters or live in Massachusetts or Maine, in which case you get two extra days. If you can’t meet the deadline, you can file a free tax extension using IRS Form 4868, which gives you an additional six months to complete and submit your federal tax return. The best tax software can also help you file a tax extension, or you can mail in the form as long as it is postmarked by the deadline. It is important to note that filing an extension does not delay the payment of any taxes owed to the IRS.
To file a tax extension, you need to submit Form 4868 to the IRS either electronically or by mail before the deadline. If you owe taxes, you must pay your estimated income tax using Direct Pay, the Electronic Federal Tax Payment System, or a debit or credit card. Failing to pay your estimated taxes with your extension can result in interest and potential penalties. Some taxpayers, such as military personnel in combat zones or those in federally declared disaster areas, are automatically granted more time to file. It is essential to estimate and pay at least 90% of your tax liability by the deadline to avoid late fees.
If you had a new baby or gained a dependent in 2023 that the IRS wasn’t aware of, you could be eligible for additional money back. The child tax credit remains an important aspect of tax refunds, allowing you to receive up to $2,000 per child. Additionally, child care expenses can also be included in your tax refund, with potential reimbursements for daycare, babysitters, transportation, and other related expenses. Filing a tax extension may delay your refund, as the timeline for receiving it depends on when you file and the complexity of your return.
The IRS recommends filing electronically and reviewing your details carefully to avoid errors that could delay your refund. Taxpayers can file and schedule federal tax payments online, by phone, or through the IRS2Go app. There are IRS-approved free filing services available for individuals earning $79,000 or less, and if you make more than that, you can use the Free File Fillable Form. It is advised to make tax payments electronically using services like IRS Direct Pay or the Electronic Federal Tax Payment System to facilitate quicker processing.
Accessing your IRS tax account online can provide you with valuable information regarding your tax-related details, such as your address, payment plan, and adjusted gross income. You can review your stimulus payment and child tax credit amounts, as well as your estimated tax payments and credits. Taxpayers can also access their tax transcript to gather necessary records for solving tax problems or addressing missing payments. For additional assistance, you can utilize the IRS Interactive Tax Assistant or sign up for direct deposit when filing your taxes.
