IRS Tax Extensions Face Aug. 15 Deadline
IRS Tax Extensions Face Aug. 15 Deadline
HARTFORD â More than 114,000 Connecticut taxpayers who filed for extensions to their 2004 federal income tax returns face an August 15 deadline.
The Internal Revenue Service reminds taxpayers who opted for the automatic extension of time by completing Form 4868 that they must file their returns by August 15 to avoid the late filing penalty, which is five percent per month of the unpaid tax.
âHelp may be available, however, for people who cannot file by August 15,â said Dianne Besunder, IRS spokesperson for Connecticut.
âTaxpayers with special circumstances, such as a hardship, that prevent them from preparing and filing their tax forms by August 15 may request an additional two-month extension by completing Form 2688,â she said.
To request the additional time to file, taxpayers must file Form 2688 with the IRS by August 15. Form 2688 is available on the IRS website, IRS.gov. The IRS will advise filers in writing whether or not their requests are granted. Form 2688 can be filed electronically or mailed to the IRS.
âExtension filers should take a few minutes and look into the benefits of IRS-e-file,â said IRS Commissioner Mark W. Everson. âIRS e-file is the preferred method for taxpayers who want their taxes done fast. Itâs accurate, secure, and easy to use.â
E-file is also the best option for taxpayers who need to file, but did not get an extension, he said. E-file speeds the return to the IRS, reducing penalty and interest amounts for those who owe taxes.
IRS e-file will be available through October 17. To e-file, taxpayers can use tax preparation software on their own computers or file electronically through an authorized e-file provider.
According to Ms Besunder, more than 751,000 Connecticut taxpayers have used e-file this year, a 19.7 percent increase over the same time last year.
In addition, several private companies participating in the Free File program will also continue to provide free return preparation and e-filing services to eligible taxpayers through mid-October. Free File enables qualifying taxpayers to e-file for free. Free File services are available through the IRS website.