Extension Form

Because we have so many clients who require extension forms, we decided to dedicate a separate page of our website for this topic.

Here we go again. Similar to last year, on 3/17/21 the IRS extended the deadline to file, and pay any balance due on, 2020 individual income tax returns to Monday, May 17th. (Read this article.) For victims affected by the winter storms in Texas, Oklahoma, AND Louisiana the IRS has extended the tax filing deadline to June 15, 2021 for various personal and business returns normally due April 15th and March 15th, respectively. (Read this article.) NOTE:  This only extends the deadline for your federal, not state (where applicable), returns. Also, taxpayers in only those 3 states have until June 15th to make Q1 2021 quarterly estimated tax payments for tax year 2021 and IRA contributions for tax year 2020 normally due April 15th.

We typically mail reminder postcards by around April 1st with directions on how to get Form 4868 and its instructions at this page of our website to all clients for whom we prepared last year’s current year tax return, but from whom we have not received this year’s current year income tax data. CLIENTS FROM LAST YEAR (2020; TAX YEAR 2019), WE WILL NOW MAIL THOSE POSTCARDS TO YOU ON OR AROUND 5/1/21. However, since our postcard will simply direct you to this page of our website, and you are already here, you might as well take care of filing your extension Form 4868 now.

If you are wondering if we can still prepare your income tax return by the new May 17th deadline, I moved our tax data submission deadline to April 15th for clients living in TX, OK, and LA,, and April 1st for everyone else.

Remember you can always file (by the filing deadline) for an extension using Form 4868 and then we can prepare your tax return when we have completed all the ones in line ahead of you. As an incentive, if you submit your tax data to us by NOON Wednesday, May 12th, we will input that data into our computer and generate the Form 4868 for you. If our preliminary (that means not final, and certainly not guaranteed) results show you are due a refund, then we will mail your extension form for you, since a signature is not required. However, if our preliminary results show you owe money, we will call you to get an email address or a fax number to where we can email or fax you the Form 4868 so you can mail it in with a check in order to avoid some penalty and interest. Also, if you live in a state that has a state income tax, be forewarned that you need to know what your state’s (extension) filing requirements and deadline are and satisfy them on your own.

If you believe you will not be able to submit your income tax data to our office by May 12th, then you can simply print off our Form 4868 instructions and go to Form 4868 to download and fill out Form 4868. (I know, Form 4868 from the IRS’s website still says the filing deadline is April 15th, but it is really May 17th [June 15th for taxpayers in TX, OK, and LA].) Be sure to print off all pages of Form 4868, but especially pages 1 and 4. Then follow the instructions to complete the form yourself and mail it to the correct IRS address for your state shown on page 4 of Form 4868. Be sure to notice that one column of addresses is for taxpayers who ARE making a payment with their Form 4868 and the other column of addresses is for taxpayers who do not owe additional tax and ARE NOT making a payment. This extends your federal filing deadline until October 15th. However, it DOES NOT EXTEND THE DATE TO PAY ANY TAX OWED. ALTHOUGH TAX PAYMENTS NORMALLY DUE BY APRIL 15, 2021 HAVE BEEN EXTENDED UNTIL MAY 17, 2021 WITHOUT BEING ASSESSED ANY PENALTIES NOR INTEREST, PENALTIES AND INTEREST WILL BE ASSESSED AS OF MAY 18, 2021. Also, you are responsible for knowing and satisfying your state’s tax filing deadline requirements.  BE AWARE THAT IF YOU DO NOT SUBMIT YOUR TAX DATA TO US BY MAY 12TH, WE CANNOT PREPARE YOUR EXTENSION FORM FOR YOU, BECAUSE 1) WE DON’T HAVE YOUR TAX DATA AND 2) WE ARE FOCUSED ON ASSISTING THE SCORES OF CLIENTS WHO HAVE SUBMITTED THEIR TAX DATA TO US.

As another option, you may go to the IRS’s website for information on how to file your extension through them, as well as watch videos on how to pay your tax http://www.irsvideos.gov/PaymentAlternatives/player/frame-flv.htm. Finally, our tax software provider has a convenient link to pay your tax through a variety of methods. For your convenience, click on this link http://www.1040paytax.com/.