Are you among the more than 11 million taxpayers who requested an automatic six-month extension this year and have yet to file? Time is running out. Taxes owed were due to the IRS by April 15, 2013. If you had filed a tax extension via Form 4868 in time, you will need to complete and submit your tax return by October 15, 2013.
Some will still have a little more time, including members of the military and others serving in Iraq, Afghanistan or other combat zone localities. Also, those in Louisiana and Mississippi affected by recent hurricanes and other natural diusasters also have more time to file. Check the IRS website for details.
But for the rest of those who filed for an extension, the tax filing deadline runs out on October 15, 2013. By filing you will avoid the late-filing penalty of 5% per month or partial month that would otherwise apply to any unpaid balance after October 15. Taxpayers can pay what they owe online or by phone.
What if I Can’t Pay My Taxes?
If you cannot pay the full amount of taxes you owe, you should still file your return by the deadline and pay as much as you can to avoid penalties and interest. You also should contact the IRS to discuss your payment options at 1-800-829-1040. The agency may be able to provide some relief such as a short-term extension to pay or an installment agreement. Details on all filing and payment options are on IRS.gov.
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