Income Tax Return Filing Deadline: For the great majority of Americans, the deadline to file your 2021 tax return is this Monday, April 18. We’ll walk you through the deadline, other deadlines to be aware of, and when you should expect a tax refund in this post.
Income Tax Return Filing Deadline
The majority of people’s federal income tax returns are due today, April 18 (those in Maine and Massachusetts have until tomorrow). If you are unable to file your return by the midnight deadline, you must instead request a tax-filing extension.
Although the extension is automatic (you don’t even need a justification for deferring your tax return), you must still request it. After that, you won’t have to file your federal tax return for the year 2021 until October 17, 2022.
However, you must still pay any taxes that are due. The extension only applies to the filing of your return, not to the payment of any outstanding balances. So, figure out how much tax you’ll owe (if any) when you file your return and pay it now.
However, don’t estimate too low, because if you’re short, the IRS will charge you interest. Penalties may also be imposed. You can deduct the amount you pay now from the total tax due on your 2021 tax return when you file it later (before October 17).
Form 4868 or an electronic tax payment to the IRS can be used to request an extension. In any case, you must act before the deadline for filing your federal income tax return closes tonight (or tomorrow night for residents of Maine and Massachusetts).
Americans residing overseas and those participating (or who have served) in a battle zone or crisis operation are subject to special tax restrictions. As a result, they may not have to file their 2021 tax return or pay any tax they owe by the end of today’s business day, and they may be granted an extension until October 17.
Victims of previous natural disasters will also have more time to file and pay their federal tax returns in 2021. They can also wait until their next tax return filing date, which is October 17, to request an extension.
Don’t forget to file your state tax return as well. Unless you live in a tax-free state, your state return may also be due today (although some states have later deadlines) The procedures and dates for state tax return filing extensions are frequently comparable to the federal requirements.
However, you should contact your state’s tax office to find out when your return is due and to learn more about how tax return filing and payment extensions work in your area.
How to Get More Time to File Your Tax Return with a Tax Extension
“Tax Day” is here! The last day to file a 2021 federal income tax return is today (April 18), which means you only have a few hours to complete your form (see below for the due date for people living in Maine and Massachusetts).
However, if you are unable to file your tax return before the deadline, do not panic. It’s simple to obtain a tax extension, which will extend your deadline to October 17. You don’t even need a decent reason or an explanation for why you need extra time. You only need to follow a few easy steps.
However, there is a catch. An extension to file your tax return does not prolong the time you have to pay any taxes that are owed to you. So, by midnight tonight, you must estimate the amount of tax you’ll owe and transmit it to the IRS.
The IRS will charge you interest on the unpaid debt if you do not pay promptly (even if you had a good reason for not paying on time). Additional fines may be imposed by the IRS if you file and pay your taxes late. Don’t fall into that trap!
Fill out Form 4868 or pay your taxes online.
Filing Form 4868 or making an electronic tax payment are the two options for requesting an automatic six-month tax return filing extension. In any case, you must take care of it today.
Form 4868 is the most typical procedure to request an extension. You have the option of mailing or submitting the form to the IRS electronically. If you’re mailing the form, it needs to be postmarked by midnight tonight.
If you’re mailing the form with a payment, you’ll also need to use the USPS because it must be delivered to an IRS P.O. box (private delivery services can’t deliver to an IRS P.O. box). You can use select private delivery services if you don’t want to pay.
Have a copy of your 2020 tax return accessible if you submit the form electronically because you’ll be asked to supply information from that return to authenticate your identification (you can e-file the form on your own computer or have a tax professional do it for you).
Use the IRS Free File or Free File Fillable Forms to prepare and e-file your tax return for free if you’re filing it yourself. Both can be found on the IRS website.
Making an electronic tax payment by tonight’s deadline is another method to seek a tax-filing extension.
All you have to do is pay your estimated income tax bill in full or in part using the IRS Direct Pay service (direct deposit from a bank account), the Electronic Federal Tax Payment System, a credit or debit card (processing fees may apply), or a digital wallet like PayPal or Click to Pay.
Keep the confirmation number and make a note that the payment is for a tax extension. To make an electronic federal tax payment, start by going to the IRS’s “Pay Online” page. When you make an electronic payment and indicate that it is for an extension, the IRS will regard it as an extension request without you having to file a second Form 4868.
Income Tax Return Refund
The IRS has stated that if you submit your federal tax return electronically and choose direct deposit, you should get your refund within 21 days.
The IRS has already processed more than 70 million tax returns for the fiscal year 2021, but they have warned that there could be delays.
This is owing to the fact that the 2022 tax season will be complicated by a number of factors, including stimulus payments and an enlarged child tax credit.