Form 4868 - Personal Tax Extension

Who Must File Form 4868?

Form 4868 can be filed by,

• Individual Taxpayers – Both U.S. residents and non-residents who need extra time to file their Form 1040 and related schedules.
• Sole Proprietors – Self-employed individuals who report business income on their personal tax return.
• Single-Member LLCs – These are businesses owned by one person and taxed as sole proprietors. Since they report income on Form 1040, they qualify for the extension.
• Certain U.S. Citizens and Resident Aliens Abroad – Taxpayers living outside the U.S. get an automatic two-month extension, but if they need more time, they can file Form 4868 for an additional six months.

Which Forms Do the Form 4868 Extend?

Form 4868 can used to extend the various personal tax return deadlines. Some of the key forms are:

• Form 1040 – U.S. Individual Income Tax Return
• Form 1040-SR – U.S. Tax Return for Seniors
• Form 1040-NR – U.S. Nonresident Alien Income Tax Return
• Form 1040-PR – Self-Employment Tax Return (Puerto Rico)
• Form 1040-SS – Self-Employment Tax Return (U.S. Territories)

What Information is Required to File Form 4868?

To file Form 4868, you must provide the required information. Here’s what you will need:

• Full Name
• Residential Address
• Social Security Number
• Estimate of total tax liability
• Balance Tax Due

Click here to view the step-by-step instructions to complete the 4868 form.

When is the Due date to File Form 4868?

• The deadline for Form 4868 is the same as the original deadline for the personal tax return for which the extension is required.
• If the deadline falls on weekends or legal holidays, the next business will be considered the deadline.
• For example, if you need to file an extension for Form 1040 for the 2024 tax year, the deadline is April 15, 2025.

To learn more about the filing deadline for the specific extension forms, click here.

What are the Penalties for Late Filing of Form 4868?

The penalties for late filing of Form 4868 can vary depending on whether the issue is related to late filings or late payment of taxes.

• Late Filing Penalty: If you don’t file your tax return or Form 4868 by the due date, a 5% penalty on the unpaid tax applies per month or part of a month, up to a maximum of 25%.
• Late Payment Penalty: If you don’t pay the tax due by the deadline, a penalty of 0.5% per month on the unpaid tax is charged, up to a maximum of 25%. However, if you can show reasonable cause for the delay, this penalty may be waived.

How to File Form 4868?

You can file your personal tax extension Form 4868 by paper or electronically. However, the IRS recommends you e-file your extension for a faster and more efficient filing process. If you opt for a paper file, you can fill out all the required information in the respective boxes, download and print it, and mail it to the appropriate respective agency address.

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