Print out IRS Form 4868. You only care about lines 4 and 5.
You have know (or be reasonably sure of) how much tax you owe, and how much is already withheld. If your life hasn't changed since last year, take last year's return and copy some numbers.
From last year's 1040, find line 61, Total Tax. Copy it to line 4.
(Different forms might have different line numbers but it will always say Total Tax)
On last year's 1040, find line 72, Total Payments. Copy it to line 5.
(Different forms might have different line numbers but it will always say Total Payments)
Subtract 5 from 4 and put your answer on 6.
Write a (good) check if you owe and put it on line 7. (This is rather important)
Forget lines 8 and 8. (more about how much extension you get, and since you are just buying some time and are certainly going to finish your taxes next week, they don't apply).
Mail that sucker today! In my state you don't have to do anything for your state income tax, it's automatic. You now have lots of time to prepare your return.
(Different forms might have different line numbers but it will always say Total Tax)
On last year's 1040, find line 72, Total Payments. Copy it to line 5.
(Different forms might have different line numbers but it will always say Total Payments)
Subtract 5 from 4 and put your answer on 6.
Write a (good) check if you owe and put it on line 7. (This is rather important)
Forget lines 8 and 8. (more about how much extension you get, and since you are just buying some time and are certainly going to finish your taxes next week, they don't apply).
Mail that sucker today! In my state you don't have to do anything for your state income tax, it's automatic. You now have lots of time to prepare your return.
We're done, but this part is ALWAYS on the test:
The failure to PAY penalty is ONE HALF of 1% of the unpaid tax, per month.
The failure to FILE penalty is FIVE % of the unpaid tax, per month.
You can file any time before the expiration, and you don't have to attach a copy of the 4868.
The failure to PAY penalty is ONE HALF of 1% of the unpaid tax, per month.
The failure to FILE penalty is FIVE % of the unpaid tax, per month.
You can file any time before the expiration, and you don't have to attach a copy of the 4868.
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