William Penn Life, 2009 (44. évfolyam, 1-12. szám)
2009-04-01 / 4. szám
Moneywi$e Extra time to file Can’t file your income tax return on time? Here's how to get an extension from the IRS Sometimes, despite our best efforts, we simply cannot complete tasks on time. If this is the case with your 2008 federal income tax return, don't panic. You may be able to get an extension of time to file your return. According to the IRS, if you cannot file your 2008 return by the due date, you may be able to get an automatic six-month extension of time to file. For example, if your return is due on April 15,2009, you will have until October 15, 2009, to file. But, remember: even if you receive an extension to file your return, you still must pay the tax you owe on time. If you do not pay the tax due by the regular due date (generally, April 15), you will owe interest. You may also be charged penalties. How to get the automatic extension You can get the automatic extension by using IRS e-file (electronic filing) or filing a paper form. Using e-file. There are two ways you can use e-file to get an extension of time to file. One, complete Form 4868, "Application for Automatic Extension of Time To File U.S. Individual Income Tax Return," to use as a worksheet. If you think you may owe tax when you file your return, use Part II of the form to estimate your balance due. If you e-file Form 4868 to the IRS, do not also send a paper Form 4868. You can use a tax software package with your personal computer or a tax professional to file Form 4868 electronically. You will need to provide certain information from your tax return for 2007. If you wish, you can make a payment by electronic funds withdrawal. You can also get an extension by paying part or all of your estimate of tax due by using a credit card. You can do this by phone or over the Internet. You do not file Form 4868. Filing a paper Form 4868. You can get an extension of time to file by filing a paper Form 4868. Mail it to the address shown in the form instructions. If you want to make a payment with the form, make your check or money order payable to the "United States Treasury." Write your Social Security number, daytime phone number, and "2008 Form 4868" on your check or money order. When to file. You must request the automatic extension by the due date for your return. You can file your return any time before the sixmonth extension period ends. When you file your return, enter any payment you made related to the extension of time to file on Form 1040, line 67. If you file Form 1040EZ or Form 1040A, include that payment in your total payments on Form 1040EZ, line 10, or Form 1040A, line 43. Also enter "Form 4868" and the amount paid in the space to the left of line 10 or line 43. Individuals Outside the United States You are allowed an automatic two-month extension (until June 15, 2009) to file your 2008 return and pay any federal income tax due if you are Money Links For more information about getting an extension for filing your federal income tax return, log onto the IRS website at: 3 www.irs.gov a U.S. citizen or resident, and on the due date of your return if:- you are living outside the United States and Puerto Rico, and your main place of business or post of duty is outside the United States and Puerto Rico, or- you are in military or naval service on duty outside the United States and Puerto Rico. Once again, however, if you pay the tax due after the regular due date (generally, April 15), interest will be charged from that date until the date the tax is paid. If you served in a combat zone or qualified hazardous duty area, you may be eligible for a longer extension of time to file. If you file a joint return, only one spouse has to qualify for this automatic extension. If you and your spouse file separate returns, this automatic extension applies only to the spouse who qualifies. How to get the extension. To use this automatic extension, you must attach a statement to your return explaining what situation qualified you for the extension. Extensions beyond two months. If you cannot file your return within the automatic two-month extension period, you may be able to get an additional four-month extension, for a total of six months. File Form 4868 and check the box on line 8. This additional four-month extension of time to file is not a further extension of time to pay. You can use a credit card to pay your estimate of tax due. No further extension. An extension of more than six months will generally not be granted. However, if you are outside the United States and meet certain tests, you may be granted a longer extension. |WPI.| 6 William Penn Life, April 2009
