MOUNTAINSIDE — If you’re trying to meet the April 15th tax deadline, there are several options available at the IRS.gov Web site for last-minute help:
E-file or Free File your tax return.
Receive a six-month extension of time to file using Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return for taxpayers unable to file by the deadline date.
Payment options are available to taxpayers having trouble paying their tax bill.
Download forms and publications at IRS.gov.
“Taxpayers are encouraged to e-file their tax returns in lieu of paper filing. IRS e-file is the most efficient way to prepare your taxes, particularly taking into consideration the latest tax changes including the Recovery Rebate Credit, First-Time Homebuyers Tax Credit, Additional Standard Deduction for Real Estate Taxes and the Educators Expense Deduction,” said New Jersey’s IRS spokesperson Gregg Semanick.
“E-filing will ensure you do not miss out on any tax breaks. Also, taxpayers who earn $56,000 or less can file for free and online at the IRS.gov Web site using the Free File Program. Over 60 percent of New Jersey filers qualify to use the Free File Program.”
The IRS.gov Web site provides information on the benefits and available options related to e-filing and the Free File Program.
If you can’t meet the tax deadline to file your tax return, you can request an automatic six-month extension to file. The filing extension will give you extra time to get the paperwork to the IRS, but it does not extend the time you have to pay any tax due. You have to make an estimate of any tax due and pay at least 90 percent when you request an extension. You will owe interest on any amounts not paid by the April 15th deadline.
You can also e-file an extension request using tax preparation software on a computer or by going to a tax preparer.
If your return is completed but you are unable to pay the tax due, do not request an extension. File your return on time and pay as much as you can. The IRS will send you a notice for the balance due and will charge interest and penalties only on the unpaid balance. You can also request a payment plan prior to receiving the IRS notice.
If you cannot pay the full amount due with your return, you can ask to make monthly installment payments. You can apply for an IRS installment agreement using the IRS Web-based Online Payment Agreement application on IRS.gov. This Web-based application allows eligible taxpayers or their authorized representatives to self-qualify, apply for, and receive immediate notification of approval. You can also request an installment agreement by submitting a completed Form 9465, Installment Agreement Request, either when you file the return or when you later get a notice from the IRS.
For the last–minute filer, tax forms and publications are available at the IRS.gov Web site. For more tax filing season information, visit the IRS Web site at IRS.gov and click on 1040 Central.
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