You haven’t filed your return and you may be feeling anxious. Well don’t panic. The IRS allows you to file an extension which gives you an additional 6 months to file it. One thing to consider is that it’s not an extension to pay your taxes, so you still have to make a payment if you owe.
Per the IRS, below is what you can do if you haven’t filed your return:
Key points to remember
- It’s an extension to file your tax return and it’s due on April 15th
- It’s NOT an extension to pay your taxes. Your payment is still due by April 15th
- You have until October 15, 2024 to file your return. If the date falls on a weekend or holiday then the due date is the following business day
- You can request an extension on the IRS website with one of their trusted partners
How to file the extension
- You can file an extension electronically as you make a payment by creating an online account. There you can specify with your payment that you are requesting an extension
- You can mail form 4868 postmarked by April 15th
- Special rules may apply if you:
- Live outside the US
- Qualify for tax relief in a disaster situation
- Serve in a combat zone
Making payments
- To avoid penalties and interest, your payment needs to be 100% of what you paid last year or 90% of what you expect your tax liability to be for the current year.
- You can pay online with your bank account by using Direct Pay, or with your credit card, debit card, or digital wallet
- Download the app IRS2Go
- You can send a payment with form 4868
What happens if you can’t pay what’s due?
- Pay as much as you can with your extension
- Communicate with the IRS as you may be able to set up a short-term extension to pay (paid within 120 days or less)
- Apply online for payment plan if you owe less than $50,000
- If you owe more than $50,000, you may still qualify for an installment plan, but you will need to complete Collection Information Statement, Form 433-A
- Offer in compromise if paying will create a financial hardship
- Penalty Relief – you may qualify if circumstances were beyond your control
Need help with tax withholding?
- If you need help figuring out your tax withholding see IRS Tax Withholding Estimator
- You can also get help figuring out estimated tax payments with pay as you go
Need Help Filing Your Return
If you need help with your return, you can go here.
- Call: 800-829-1040
- 7 am to 7 pm local time
Callers who are hard of hearing or deaf:
- TTY/TDD 800-829-4059
Check Your Refund
To check the status of your refund, you can go here.
Mindful Reminder
The one thing to remember is to stay calm and don’t allow yourself to follow any stories about yourself. Failing to file by April 15th isn’t the end of the world. Your sanity and peace of mind are more important. Take the time to file an extension and if you can’t make the full payment, breathe, and promptly communicate with the IRS. They are not as scary as you may think. The sooner you speak to them about your situation, the better chances you have of reducing an additional tax liability.
Seeking Help
If you are depressed, anxious, or have panic attacks, find a health professional who can help you.
Substance Abuse and Mental Health Services Administration (SAMHSA) National can provide free referrals. They are open 24/7, 365 days a year.
- Call: (800) 662-Help (4357).
- Visit: SAMHSA’s National online treatment locator
- Text: Your zip code to 435748
If you are experiencing suicidal thoughts, please contact 988 for help. The calls are free, confidential, and they are open 24/7 to help you navigate difficult emotions.
Attend a Workshop
If you are interested in attending a live webinar on improving your relationship with your finances, please visit my events.
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IRS. (2024). About form 4868, application for automatic extension of time to file u.s. individual income tax return. Retrieved from: https://www.irs.gov/forms-pubs/about-form-4868
IRS. (2023). Apply online for a payment plan. Retrieved from: https://www.irs.gov/payments/online-payment-agreement-application
IRS. (2021). Can’t pay the tax you owe? Retrieved from: https://www.irs.gov/pub/irs-pdf/p4849.pdf
IRS. (2022). Collection information statement for wage earners and self-employed individuals. Retrieved from: https://www.irs.gov/pub/irs-pdf/f433a.pdf
IRS. (2023). Direct pay with bank account. Retrieved from: https://www.irs.gov/payments/direct-pay
IRS. (2023). Extension of deadlines — combat zone service. Retrieved from: https://www.irs.gov/newsroom/extension-of-deadlines-combat-zone-service
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IRS. (2024). Free file: everyone can file an extension for free. Retrieved from: https://www.irs.gov/filing/free-file-everyone-can-file-an-extension-for-free
IRS. (n.d.). How can we help you?. Retrieved from: https://www.irs.gov/
IRS. (2024). IRS free file: do your taxes for free. Retrieved from: https://www.irs.gov/irs-free-file-do-your-taxes-for-free
IRS. (2024). IRS2Go mobile app. Retrieved from: https://www.irs.gov/help/irs2goapp
IRS. (2024). Let us help you. Retrieved from: https://www.irs.gov/help/telephone-assistance
IRS. (2024). Make a Payment. Retrieved from: https://www.irs.gov/payments
IRS. (2024). Offer in compromise. Retrieved from: https://www.irs.gov/payments/offer-in-compromise
IRS. (2024). Pay as you go, so you won’t owe: a guide to withholding, estimated taxes, and ways to avoid the estimated tax penalty. Retrieved from: https://www.irs.gov/payments/pay-as-you-go-so-you-wont-owe-a-guide-to-withholding-estimated-taxes-and-ways-to-avoid-the-estimated-tax-penalty
IRS. (2024). Pay your taxes by debit or credit card or digital wallet. Retrieved from: https://www.irs.gov/payments/pay-your-taxes-by-debit-or-credit-card
IRS. (2023). Penalty relief. Retrieved from: https://www.irs.gov/payments/penalty-relief
IRS. (2024). Publication 54 (2023), Tax Guide for U.S. Citizens and Resident Aliens Abroad. Retrieved from: https://www.irs.gov/publications/p54
IRS. (2024). Tax relief in disaster situations. Retrieved from: https://www.irs.gov/newsroom/tax-relief-in-disaster-situations
IRS. (2024). Tax withholding estimator. Retrieved from: https://www.irs.gov/individuals/tax-withholding-estimator
IRS. (2024). Your online account. Retrieved from: https://www.irs.gov/payments/your-online-account