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Down To The Wire: Need An Extension?

If you haven’t filed your taxes yet, check out the date… you have less than a week to do it. Do you really want to spend a sunny warm weekend indoors pouring over filing forms or sitting in front of your computer trying to fill out little boxes? Heck no! That’s why you need to file an extension.

Here are the two important facts, straight from H&R Block themselves:

Notify the IRS – If a taxpayer files an extension with the IRS (Form 4868) he or she will have until Oct. 16 to complete their tax return. (Taxpayers living and working outside the US have an automatic two-month extension to June 15. They can request an additional 4-month extension by filing Form 4868.)

Preparing Form 4868 isn’t always easy, so the taxpayer should plan ahead. Using a tax professional or a digital solution (online or software) may simplify the task. They may also visit www.hrblock.com [3] to file an extension electronically or to find the nearest year-round H&R Block office.

File later, pay now – The extension to file will not give taxpayers more time to pay their tax bill. Taxpayers should estimate their tax liability and pay as much as they can by April 17. Underpayments are subject to penalties and interest.

More tips from H&R Block… [4]