WASHINGTON - If you´re trying to beat the tax deadline, the IRS offers several options for last-minute help. If you need a form or publication, the IRS web site at www.irs.gov has copies available. If you discover you need more time to finish your return, get a four-month extension with Form 4868. And if you have trouble paying your tax bill, the IRS has several payment options available.
To get the automatic extension, you should file Form 4868, Application for Extension of Time to File U.S. Individual Tax Return, with the IRS by the regular April deadline, or make an extension-related electronic payment. You can now file your extension request by phone or by computer instead of using the paper Form 4868.
The 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 accurate estimate of any tax due when you request an extension. You may also send a payment for the expected balance due, but this is not required to get the extension. However, you will owe interest on any amounts not paid by the April deadline, plus a late payment penalty if you have paid less than 90 percent of your total tax by that date.
The IRS opened a special toll-free phone line for extension requests on April 1. The number is 1-888-796-1074. You should use Form 4868 as a worksheet to prepare for the call and have a copy of your 1999 tax return. You will need to enter the adjusted gross income and total tax amounts from that return to verify your identity.
The system will give you a confirmation number to signify that the extension request has been accepted. You should put this confirmation number on your copy of Form 4868 and keep it for your records. Do not send the form to the IRS. If you call the extension line, you can choose to pay any expected balance due by authorizing an automatic withdrawal from a checking or savings account.
You may also e-file an extension request using your own tax preparation software or by going to a tax preparer. As with the phone system, computer filers must provide two figures from the previous year´s tax return to verify identity.
If you determine that you need still more time to prepare and file your return beyond the initial four-month extension, you may be able to get two more months to file. You will have to either write to the IRS or file Form 2688, Application for Additional Extension of Time to File Individual Tax Return. You must give the IRS the reason why the second extension is needed.
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