How do I file a tax extension for 2019?

Today is the deadline for filing and paying 2018 federal income taxes.  Any filings after today that are not on extension will be considered late and subject to penalties and interest assessments.   Remember if you mail in your return, it must be postmarked today, so make sure that the mailing service you are using whether it be the US Postal service drop-off or other have a collection time that will meet the April 15th postmark deadline.

In the event that you cannot file your tax return by the deadline, you need to file for a tax extension, which is also subject to the above April 15th postmark deadline.  To get a filling a tax extension, you will need to submit Form 4868(Application for Automatic Extension of Time To File U.S. Individual Income Tax Return).

The IRS also allows you to get an extension by paying all or part of your estimated income tax due and indicate that the payment is for an extension using Direct Pay, the Electronic Federal Tax Payment System (EFTPS), or a credit or debit card.  This way you won’t have to file a separate extension form and you will receive a confirmation number for your records.

It is important to note that, an extension to file will give you six more months to file your taxes, until Oct. 15. It does not however, give you extra time to pay your taxes.  You still must estimate and pay what you owe by April 15.  You will be charged interest on any amount not paid by the deadline.  Below are the 2018 Income Tax Brackets to assist you estimate how much money you will need to send (if any) along with your Form 4868.

2018 Income Tax Brackets and Standard Deduction Rates

Table 1. 2018 Income Tax Brackets and Rates

 

Table 2. 2018 Personal Exemption and Standard Deduction

The personal exemption for 2018 is eliminated