File Free IRS Tax Extension: How It Works for You

Last-minute tax filers, don't panic! File a free tax extension today to avoid late fees and penalties. Get more money back!

Today is Tax Day, April 15, which is the deadline for filing your income taxes, unless you live in Massachusetts or Maine, or were impacted by a natural disaster. If you can't finish your taxes by the deadline, don't worry - you can file a free tax extension that gives you an additional six months to submit your federal tax return for 2023.

To file a tax extension, you can use the best tax software available or submit IRS Form 4868 by mail, ensuring it is postmarked by the deadline. It is important to pay any estimated income tax due if you think you owe taxes, using Direct Pay, the Electronic Federal Tax Payment System, or a debit or credit card. Failure to pay estimated taxes with your extension may result in interest and potential penalties when you file.

Certain individuals, such as military personnel in combat zones or those in federally declared disaster areas, are automatically granted more time to file. US citizens living abroad have until June 17 to file their taxes. It is crucial to estimate and pay at least 90% of your tax liability by the deadline to avoid late fees and penalties.

Failing to file taxes by the deadline could result in missing out on potential refunds, such as the child care tax credit, which could provide up to $2,000 per child. The amount of money you can receive for child care expenses has decreased from pre-pandemic levels, but you could still be eligible for refunds of up to $1,050 for one child or $2,100 for two or more children.

The timeline for receiving your income tax refund depends on when you file, and refunds for more complicated returns may take longer to process. The IRS recommends filing electronically and signing up for direct deposit to receive your refund faster. Taxpayers can file and schedule federal tax payments online, by phone, or using the mobile IRS2Go app.

If you need to find a tax software service, you can use an IRS-approved free filing service if you make $79,000 or less. Gathering income statements, adjustments to income, filing status, and dependent information is necessary for filing. For those making more than $79,000, the Free File Fillable Form is available.

The IRS prefers electronic payments, offering options such as IRS Direct Pay linked to a checking or savings account, credit card payments through the IRS2Go app, or the Electronic Federal Tax Payment System. Accessing your IRS account online allows you to review tax-related details, including address and payment plan information, as well as access to tax transcripts for record-keeping purposes.

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