The Stress of Tax Season
Tax season is a stressful time for everyone. The due date is approaching fast, and you haven’t even started your taxes yet. You know you’re going to owe money, but you don’t have it. What can you do?
One option is to file an extension. This will give you an extra six months to file your taxes. But what if you’ve already filed an extension and now you need to prove it?
Here are a few ways to do that:
- Check your bank statement. The IRS will typically charge a small fee when you file an extension. This fee will show up on your bank statement.
- Look for a confirmation email. The IRS will send you a confirmation email when you file an extension. This email will contain the date you filed your extension and the date your taxes are now due.
- Contact the IRS. If you can’t find your bank statement or confirmation email, you can call the IRS at 1-800-829-1040. The IRS can verify that you filed an extension.
It’s important to note that filing an extension does not give you an extension to pay your taxes. You will still need to pay your taxes by the original due date. If you can’t pay your taxes by the due date, you should contact the IRS to make a payment arrangement.
Frequently Asked Questions About Tax Extensions
- How long does an extension give me to file my taxes?
An extension gives you an extra six months to file your taxes. This means that if your taxes are due on April 15th, you will have until October 15th to file them.
- How much does it cost to file an extension?
The IRS charges a small fee to file an extension. The fee is currently $55.
- Can I file an extension online?
Yes, you can file an extension online. You can use the IRS website or a tax software program.
- What happens if I don’t file an extension?
If you don’t file an extension, you will be charged a late filing penalty. The penalty is 5% of the tax you owe for each month that your taxes are late.
- What if I can’t pay my taxes by the due date?
If you can’t pay your taxes by the due date, you should contact the IRS to make a payment arrangement. The IRS can help you set up a payment plan that you can afford.
Conclusion
Filing an extension can be a helpful way to get more time to file your taxes. However, it’s important to remember that filing an extension does not give you an extension to pay your taxes. If you can’t pay your taxes by the due date, you should contact the IRS to make a payment arrangement.
