John Dillard is an author and Certified Public Accountant. To See how he takes Christ along with him to work visit www.HisCPA.com
April 18th, 2011 07:55 AM ET

Be Sure Your File an Extension if you Do Not File Your IRS Form 1040 Today

Be Sure Your File an Extension if you Do Not File Your IRS Form 1040 Today

IRS Form 1040 are Due Today

If you can't file today, be sure you file an Extension IRS form 4868/Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. Taxpayers are required to file their 2010 personal tax returns by 4-18-11. If for any reason you are not able to file your personal return/IRS Form 1040 by this due date taxpayers can file by the due date IRS form 4868/Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. The form can be viewed at the IRS's web site at http://www.irs.gov/pub/irs-pdf/f4868.pdf

IRS Form 4868/ Extensions

IRS Form 4868/The Application for Automatic Extension of Time To File U.S. Individual Income Tax Return is a legal way of notifying the IRS that you plan to file your return after the original due date. This year's due date is extended form 4-15 to 4-18-11 as a result of a holiday in Washington D.C.

The IRS allows a six month extension for both Personal Income Tax Returns, however please note that this is solely an extension of time to file and not an extension of time to pay and any late payments will result in assessments from both the IRS and state for penalties and interest. Please be advised that the penalties are even worse if you do not file the extension or the original return by the due date as the IRS can add failure to file penalties as well. These incentives are simply in place to give you time to file and pay.

Personal income tax return extensions are for six months and accordingly expire and there are no valid extensions available after this date.

Perhaps there is no greater area of tax law so complex and confusing. Our keep it simple style removes the shroud of confusion and assist those who want to avoid unnecessary penalties and interest.

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About this blog
John Dillard, an author and Certified Public Accountant, serves HIM by serving you with his expertise in this blog... one tax return at a time!