All you need to do is let the IRS know by filling out this form.īut how do you know how much to pay if you haven't got all your documents? You estimate. It doesn't even matter why you need an extension to file your taxes. Maybe you're waiting on a 1099 form for some freelance work you did, or perhaps you haven't been able to prepare your tax return because of a broken wrist. Here is how to get an extension and what to do if you can't pay your tax bill. If you owe the IRS money, not filing your taxes can result in several kinds of penalties, and you'll still be on the hook for the tax bill you owe, which will accrue interest until you pay. (And there is no penalty for filing your taxes late if the IRS owes you money.) After all, most Americans get refunds come tax day anyway. It's also not a bad option if you don't think you owe the IRS any money. But for people who are still trying to find documents and pull together their return, the extra time can be a saving grace. Getting an extension may be more hassle than it's worth, since you have to cough up the cash now anyway. While you have until mid-October to get all your paperwork in order and filed, you still need to pay any tax you owe on tax day, which is April 18 this year. OK, back to business: Note that we wrote "file" your taxes, not "pay" your taxes.
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