Business aside, with everything 2020 threw at us, you may need extra time to meet your personal income taxes. Individual income tax returns are due to the IRS on May 17, 2021. That being said, there’s a lot of information to provide to the IRS and we know you may not be ready to file.
Thankfully, if you need some extra time, you can file extension Form 4868. Here’s a quick review on personal tax Form 1040 for the 2020 tax year and how to extend it safely and easily with Form 4868.
Form 1040 is an individual income tax return. U.S. residents are required to file this form every year to calculate their total taxable income. This form also helps taxpayers figure out how much they need to pay to the government. For the 2020 tax year, Form 1040 is due on May 17, 2021.
The deadline to file Form 1040 can be extended with extension Form 4868.
What is Personal Tax Extension Form 4868
Extension Form 4868 usually allows taxpayers to extend their personal income tax return deadlines up to six months. Since the IRS has already granted taxpayers an extra month this year, filing an extension will give you five more months to meet your deadline. For 2020 filing, extension Form 4868 will move your May 17, 2021 Form 1040 deadline to October 15, 2021.
Form 4868 is an automatic extension form, which means you will not need to include your signature or explain to the IRS why you need a little extra time.
Information Required on Form 4868
It is easy to file Form 4868, as long as you have all the right information ready to go.
To complete Form 4868, be ready to provide your personal details, including your full name, address, and Social Security Number (SSN). If you are filing jointly with your spouse, you will need to provide their information as well. You will also need to enter your total tax liability and payment for 2020, and any balance you have due.
When is Form 4868 Due
It’s important to file Form 4868 on or before your personal income tax deadline. To extend your Form 1040 due date for the 2020 tax year, be sure to file Form 4868 on or before May 17, 2021.
How to file Form 4868?
The best way to extend your Form 1040 deadline is to e-file Form 4868. When you file Form 4868 online, your extension request is transmitted directly to the IRS, ensuring that you receive the extra time you need to meet your deadline safely.
At ExpressEfile, we’re looking out for you! We want to make sure you have everything you need to meet all your IRS deadlines and stay penalty free. If you need extra time, our sister product, ExpressExtension offers an easy filing option and takes all the risk out of extending your deadline.
You can file Form 4868 in minutes. Just complete these simple steps:
- Step 1: Choose the extension type you would like to file (either individual or joint filing)
- Step 2: Enter your personal details such as Name, Address, SSN
- Step 3: Enter your tax payment details if you owe any taxes
- Step 4: Review your form
- Step 5: Transmit your Form 4868 to the IRS.