|Since I needed more time to do my taxes, I recently filed for a tax extension. To do so, just had to file Form 4868. It required me to fill out our estimated tax liability along with the total tax payments (withholdings). In my case, I filed for the extension electronically free using TaxAct's website. I didn't have to provide any payments as I estimated that we will be due some refund but you can provide the banking information in case you owe IRS money and want to allow IRS to withdraw the money from your bank account. It's important to know the getting the extension to file taxes late doesn't extend the deadline for making any payments beyond April 15th deadline, otherwise the IRS will be imposing additional penalties.
For the state taxes, I just went to our state's Web site and requested an extension electronically although I didn't even have to do that since my state automatically grants extension if we file for federal tax extension. The entire process of filing for federal and state tax extensions online took under 10 minutes, so it was a pretty quick process and gives me till Oct 15 to file my taxes.
For links to different state's taxsites for filing tax extension via your state's Website, see:
Links to different state's tax sites
Labels: investing, investment, irs, taxes