Everyone knows that the due date for filing your federal income taxes usually is April 15. But for one reason or another, sometimes taxpayers are unable to file by that date. Sometimes an emergency has arisen that kept you from taking care of it. Or key documents have gotten lost or proved hard to track down.
The IRS understands that life sometimes gets in the way. It allows taxpayers to file for a six-month extension, to give them the chance to file later without incurring any penalties.
To do this, the tax agency provides a form called Form 4868, Application for Automatic Extension of Time To File U.S. Individual Tax Return. As the name implies, this is for individuals looking for an extension to file their taxes. There are different forms for businesses and other organizations, estates, and citizens and resident aliens living abroad. It may also be possible to file for an extension online using tax software.
An extension can give you more time to prepare your taxes. But if the IRS says you owe back taxes or has begun an audit of a prior return, you need legal help now. The IRS may be threatening to garnish your wages, put liens on your property or even seize your assets. A tax attorney may be able to avoid these potentially disastrous consequences, and negotiate a way to allow you to pay off your tax debt, or successfully argue that the alleged debt is exaggerated or nonexistent.
For more information about your specific case, please contact a tax attorney.
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