How to file a tax extension

If you need more time to complete your return you can file a tax extension.

An extension typically gives you six more months to gather tax documents and file your return. It doesn't give you more time to pay your tax bill, however. That's still due on April 15.

Below, CNBC Select explains how a tax extension works, how to request one and what your new filing deadline will be.

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A tax extension gives you six additional months to file your tax return. The deadline to file for an extension by April 15, 2025. If approved, you will have six more months to submit your return.

Any money you owe Uncle Sam, however, is still due on Tax Day. To avoid fees and interest, you'll need to estimate what you owe and send it to the IRS by April 15.

To receive an extension, you'll need to submit IRS Form 4868 and an estimated payment of your tax bill. Look at your Form 1040 to see what your total tax liability was for the year. Then subtract what you've already paid.

The difference will be what you need to send with your request.

There are several ways to submit your tax extension request:

• File Form 4868 electronically with a tax professional or a tax-prep program like H&R Block, TurboTax or TaxSlayer.

• Anyone can file for an extension with IRS Free File, even if your adjusted gross income is too high to use it to submit your return.
• Mail a completed paper Form 4868 and enclose your payment. It must be postmarked by April 15, 2024.
• Pay your estimated tax bill on the IRS website and indicate that the payment is for an extension.
• Make payment by phone by calling the Electronic Federal Tax Payment System at 800-555-3453.

If your request is approved, you should receive an online confirmation number from the IRS. Keep that for your records.

The deadline to request an extension to file your 2023 federal tax return was April 15, 2024, at midnight local time. Getting an extension gives you until Oct. 15, 2024, to file your completed return.

Each state has its own process for requesting a tax extension. Many, including California and Illinois, offer an automatic six-month extension for their state returns.

Check with your state's Department of Taxation for more details.

A tax extension will grant you six additional months to file your tax return, but you will need to pay your estimated tax bill by Tax Day to avoid penalties and interest.

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