The bad news is that if you haven’t already, you had until April 18, 2023, to submit your 2022 income tax return.
The good news is that you can ask for a delay if you are unable to submit your return by the due date.
It’s crucial to keep in mind that you must still submit your request for an extension before the due date for tax returns.
How to File an Extension for 2022 Income Taxes
You can file Form 4868 with the Internal Revenue Service (IRS) to ask for an extension, which will give you an additional six months to file your return.
It is crucial to remember that a filing extension does not equate to a payment extension for taxes.
To avoid fines and interest, you must still pay any taxes you owe by the original deadline.
You can send Form 4868 to the IRS by mail or submit an electronic extension request on the IRS website.
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How Do I Fill Out IRS Form 4868?
You must provide your name, address, and Social Security number (SSN) in order to complete Form 4868.
Your projected tax liability for the tax year, the tax year for which you are asking for an extension, and your signature are also required.
You might also be required to give other details, such as the justification for your extension request or proof of your anticipated tax due.
When Must a Tax Return Extension Request Be Made?
The due date for filing your return (April 18, 2023) and requesting an extension are the same.
If you ask for a deadline extension and your request is approved, you will have until October 18, 2023, to file your final return.
If you choose not to ask for a deadline extension or if your request is denied, your deadline will remain April 18, 2023.
You should speak with a tax expert if you have any queries about requesting an extension.
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Source: Marca
