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The Law allows you to file your tax return after 4 ½ months from the end of the year i.e. April 15th. You can get an extension of time to file your return but not to pay your taxes. In some circumstances, you also can get an extension of time to file and pay any tax due. However, if you pay the tax due after the regular due date, interest will be charged from the regular due date until the date the tax is paid.
*Please Note: An extension of time to file your return does not grant you any extension of time to pay your taxes.
1. Automatic Two-Month Extension.You are allowed an automatic Two-month extension to file your return and pay federal income tax if you are a U.S. citizen or resident alien, and on the regular due date of your return:
You are living outside the United States and Puerto Rico and your main place of business or post of duty is outside the United States and Puerto Rico, or
You are in military or naval service on duty outside the United States and Puerto Rico.
2. Automatic Six-Month Extension. If you are not able to file your return by the due date, you generally can get an automatic Six-month extension of time to file (but not of time to pay). To get this automatic extension, you must file a paper Form 4868
3. Previous Two-Month Extension. If you cannot file your return within the automatic Two-month extension period, you generally can get an additional Four months to file your return, for a total of SIx months. The Two-month period and the Six-month period start at the same time. You have to request the additional Four months by the new due date allowed by the Two-month extension.
4. Additional Extension Of Time For Taxpayers Out Of The Country. In addition to the Six-month extension, taxpayers who are out of the country can request a discretionary Two-month additional extension of time to file their returns (to December 15 for calendar year taxpayers).
Taxes must be paid as you earn or receive income during the year, either through withholding or estimated tax payments. If the amount of income tax withheld from your salary or pension is not enough, or if you receive income such as interest, dividends, alimony, self-employment income, capital gains, prizes and awards, you may have to make estimated tax payments. If you are in business for yourself, you generally need to make estimated tax payments. Estimated tax is used to pay not only income tax, but other taxes such as self-employment tax and alternative minimum tax. You also may be charged a penalty if your estimated tax payments are late, even if you are due a refund when you file your tax return.
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