Filing a Tax Extension in 2022

March 2, 2022
Main post image

With tax season already here, many taxpayers have begun the tedious process of filing taxes. The deadline for filing taxes is only a few weeks away, but you have options available by filing a tax extension. It’s possible to file for tax extensions to give you more time to file taxes. 

You can file for tax extensions at both the state and federal levels. Here’s how to file for federal tax extensions and state tax extensions in 2022.

Use Form 4868 to File for a Tax Extension

If for whatever reason, you can’t file federal taxes by the deadline (April 18, 2022), you can complete Form 4868 to file for a federal tax extension. By using Form 4868, you’ll have an extra six months to file your federal tax return. You can file for tax extensions for any reason, and completing the form won’t take much time.

Form 4868 contains two parts. Within the first part of the form, you’ll provide your: 

  • Name 
  • Address
  • Social Security Number
  • Spouse’s Social Security Number, if applicable.

Within the second part of the form, you’ll provide an estimate of what your final taxes will be. You’ll determine this after subtracting the total tax payments you’ve made for the year. If you expect to owe taxes, you’ll need to pay the balance with Form 4868.

You can request a federal tax extension either by mail or online.

How to File a Tax Extension Request Online

The first option to file for a tax extension request is to file online. The IRS allows individual taxpayers to use Free File, allowing you to e-file your tax extension form.

If you choose to file a tax extension request online:

  • You’ll have until October 17th, 2022 to file a return since the IRS states, “If October 15 falls on a Saturday, Sunday, or legal holiday, the due date is delayed until the next business day.” 
  • You must file your extension request no later than your tax return’s regular due date.
  • You should estimate and pay any owed taxes by your regular deadline, which will help you avoid penalties.

How to File a Tax Extension Request By Mail

You can also file a tax extension request by mail. You have three options regarding how to request Form 4868 by mail: 

  1. You can call the IRS to order a form. 
  2. The second option is to request having a paper form mailed by completing an order form on the IRS website.
  3. Local libraries or post offices may have copies of Form 4868.

The same requirements for filing a tax extension request online also apply to filing a tax extension request by mail. 

Tax Filing Extensions Do Not Extend Payment Deadlines

While you can file for a tax extension, it’s critical to note that you won’t receive a payment deadline extension. 

Even if you submit Form 4868 requesting an extension, you should still send a payment of the estimated balance owed. By paying more, you’ll have less interest and penalties, and you may receive a refund when you file your tax return.

If you file for tax extensions online, you can send payments electronically on either the IRS or state website. If you file for an extension by mail, you can mail payments with your completed Form 4868.

State Tax Extensions

On top of federal tax extensions, you may also qualify for state tax extensions. These extensions will also give you a six-month extension, and it’s available for all taxpayers. Depending on your state, you may need to complete a form before your state tax return’s due date.

Like federal tax returns, requesting a state tax extension won’t extend the due date. Different states have requirements to file state tax extensions, which could affect how you pay state taxes:

  • Some states recognize federal extensions to grant state tax extensions automatically. You may need to attach Form 4868 to your state tax extension request form.
  • Some states will allow a state extension if you have no tax due and if you file for a federal extension.
  • Some states will recognize federal extensions as valid state extensions if a majority of tax liability is paid by April 15.
  • Taxpayers may have payment requirements for their tax liabilities to avoid penalties. 
  • Taxpayers not granted an automatic federal extension must file a state form in certain states.
  • You can file extension requests and pay for any taxes owed by mail and online in many states.

If you live in a state without a state income tax, you won’t need to file a state tax return. You also won’t need to file a state tax return extension request.

How Do You Know If Your Tax Extension Request Is Approved?

Following your federal tax extension request submission, the next step is the approval process. The approval process is normally automatic, but make sure you complete Form 4868 correctly. You may receive a rejection for your tax extension request by not ensuring that your information is correct.

The method you’ll receive your approval will depend on how you submitted Form 4868. For taxpayers filing their tax extension request online, you’ll receive an email within 24 hours with a confirmation. For taxpayers filing their tax extension request by mail, you won’t receive an email. Instead, you’ll contact the IRS to confirm your extension request was received.

Is There a Penalty for Filing a Tax Extension?

If you need an extension, you should file for one on or before the April 18 deadline to avoid a late-filing penalty from the IRS.

After you file for tax extensions, one thing you may wonder about is if there will be a tax extension penalty. You won’t face a penalty for filing for a tax extension, but your taxes are still due before federal and state deadlines. 

If you don’t pay those taxes on time, you’ll have late payment penalties. You may also have penalties for not paying or for underpayment too.

1-800Accountant’s Tax Experts Can Assist You

As tax season continues, you still have time to file for a federal extension or a state tax extension. Filing for a tax extension will give you several months to file taxes, but not more time to pay taxes.

When you need help with filing for a tax extension, tax experts are ready to assist you. Contact the tax experts at 1-800Accountant to receive the help you need before the deadline arrives.

This post is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult his or her own attorney, business advisor, or tax advisor with respect to matters referenced in this post. 1-800Accountant assumes no liability for actions taken in reliance upon the information contained herein.