Placeholder Image

Subtitles section Play video

  • [Music - Piano melody]

  • Hello, I'm Nick from TurboTax with some helpful information for taxpayers in need

  • of a little extra time filing their tax return. There may be a tax year when you can't just

  • get that return finished by the April deadline. Luckily, the IRS offers automatic extensions

  • of time to file all types of tax returns. For most personal returns, the filing deadline

  • for tax returns is April 15 of each year. However, by filling out form 4868 and mailing

  • it to the IRS by April 15th, you can get an extra six months to file your tax return without

  • incurring penalties. It is important you don't confuse an extension

  • of time to file with an extension of time to pay your taxes.

  • If you know that you'll owe tax, you should still send the payment to the IRS with your

  • form 4868; otherwise, you may end up paying late payment penalties.

  • The IRS gives businesses, estates and trusts extra time to get their tax returns filed

  • as well. If you're responsible for filing a partnership,

  • estate or trust tax return, a six-month tax extension is available if you submit form

  • 7004 by the original due date of the return. All other types of businesses such as a corporation

  • are eligible for a five-month tax extension. Just like with your own tax return, this is

  • not an extension of time to pay. Interest and penalties will apply if you do

  • not pay the taxes in full by the original filing deadline.

  • For more tips and information to help you get your taxes done smarter, visit TurboTax.com

  • [Music - Piano melody]

[Music - Piano melody]

Subtitles and vocabulary

Click the word to look it up Click the word to find further inforamtion about it