This year the last day to file your tax return for 2020 was extended till May 17, but even with the extra time, many were not ready. If this has been your case, how can you get more time to file your tax return?
The IRS has reminded taxpayers who missed the tax filing deadline that there is no penalty for filing late. Those who owe money and missed the deadline without requesting an extension should file quickly to limit penalties and interest. How can you get more time to file your tax return?
If you need extra time to file your 2020 tax return, there are ways to obtain it. According to the IRS, anyone can request an automatic tax-filing extension, but some people get extra time without asking. Are you included?
Due to the ongoing pandemic, this year the IRS postponed the usual April 15 deadline for filing individual income tax returns until May 17, 2021. In spite of this, just like every year, many Americans will still need more time to meet their tax-filing obligation. What must they do?
The IRS estimates that more than 16 million taxpayers will get an automatic extension this filing season, either by filing a form or making an electronic tax payment.
Other taxpayers, however, including disaster victims, those serving in a combat zone, and Americans living abroad get more time, even if they don't ask for it.
These are the details on each of these special tax-relief provisions for disaster victims, combat zone taxpayers, and taxpayers outside the United States that can be checked on the IRS website
Taxpayers who don't qualify for any of these three special situations can still get more time to file by submitting a request for an automatic extension until October 15, 2021. But because this is only a tax-filing extension, their 2020 tax payments are still due by May 17 and will have to pay penalties if they did not meet the deadline.
An easy way to get the extra time is through Free File on IRS.gov. and to get the extension, taxpayers must estimate their tax liability on this form.
Another option is to pay electronically and get a tax-filing extension.