If you properly filed IRS Tax Form 4868 (Application for Automatic Extension of Time to File U.S. Individual Tax Return) prior to April 15, you would have received a six-month extension to file your tax return. That means that October 15 is the final deadline to submit your taxes for last year.
There will be no more extensions for regular individual taxpayers, so don’t wait any longer to file.
If you fail to complete your tax return filing by the October 15 deadline, you will be penalized with late fees, interest and other tax penalties. These problems are best avoided, so do everything you can to file on time. Get all your forms, documents and receipts ready. Then contact the tax specialists at Ferguson, Timar & Company to help expedite the process and make sure every filing detail is covered accurately.
Now, there are some exceptions for individuals with special circumstances. If you meet the following requirements, you may be eligible for additional tax filing extensions:
1. Serving Active Military Duty
If you are a member of the Armed Forces and are currently serving in a combat zone or contingency operation, you may qualify for an additional six-month extension on your tax return. That extension begins the day your deployment ends, so make sure you track the dates carefully because there will be no further extensions beyond that. You can check out the Armed Forces Tax Guide (IRS Publication 3) for more information about these special extensions.
2. Currently Residing Outside of the United States
If you are a U.S. Citizen who currently lives outside of the country or in any of its territories, you might be able to qualify for a secondary tax extension that is generally an additional two months. There are strict requirements and a proper letter must be submitted before the October 15 deadline. More information about this extension can be found in the Tax Guide for U.S. Citizens and Resident Aliens Abroad (IRS Publication 54).
Whatever reasons you had for needing an extension, make sure you have all the information that will help you file on time (or request a special extension in the situations above) before the October 15 deadline.
Ferguson, Timar & Company can help you navigate the process and get everything completed properly in the quickest possible manner. For more information about our services, contact us today!