Tax Extension FAQ

• How do I get an extension of time to file my federal tax return?

You may file Form 4868 for an automatic six month extension. Click on the webpage link “Prepare an Extension” (after you login) and after a short interview, the form will be produced that you may then file electronically or printout and mail to the IRS.

• What if I am out of the country when it is time to file my return?

If you are “out of the country” (see instruction for definition) on the regular due date of your return and a U.S. citizen or resident, you are allowed two extra months to file your return and pay any amount due without requesting an extension. For a calendar year return, this is June 15, 2008. If you need an additional four months to file your return, file Form 4868 and be sure to check the box on line B.

• After I have made an extension payment and have received an extension of time to file by using Form 4868, can I get more time by filing Form 2688?

Form 4868 used to be a four month extension and Form 2688 was an additional two month extension. The IRS has made Form 4868 a request for an automatic six month extension and eliminated Form 2688.

Some taxpayers can wait until after April 15 to file a return, pay any taxes due and make IRA contributions for 2007. As a general rule, those eligible get the extra time without having to ask for it.

Eligible taxpayers for automatic extensions include:

• Members of the military serving in Iraq, Afghanistan or other combat zone localities. Normally, the postponement is until 180 days after the service member leaves the combat zone.
• Disaster-area taxpayers in four states affected by recent floods, storms and tornadoes. The postponement is until May 6 in parts of Illinois, May 19 in parts of Georgia and parts of Missouri and May 27 in parts of Arkansas.

IRS expects to receive 10.3 million extension requests during 2008 compared with 10 million extensions received during 2007. The IRS expects to receive almost 2 million extension requests electronically this year.