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The standard tax extension grants you an additional six months to file your tax return with the IRS. However, even with that extra time, some people might still need more. Here's what you need to know about requesting a second tax extension beyond the initial six-month period.
1. Gather your documents: Start by collecting all the documents and information you'll need to complete your tax return. This includes W-2s, 1099s, receipts for deductions, and any other relevant tax forms.
2. Write a request letter: In a clear and concise letter, explain why you need an extension beyond the six-month window. Be specific and provide details about the hardship that's preventing you from filing on time. Here are some examples of situations that might qualify as undue hardship:
3. Submit your request: Mail your letter along with a copy of Form 4868 (Application for Automatic Extension of Time To File U.S. Individual Income Tax Return) to the IRS address listed on the form under "Where to File."
By following these steps and providing a compelling explanation for your hardship, you can increase your chances of getting an extension beyond the standard six-month period.
Filing on your own can be a headache. BookkeeperLive can help:
Get ahead now! Grab your free consultation with BookkeeperLive. We'll guide you smoothly through extensions and filing. And don't forget those estimated tax payments to steer clear of penalties.
1. How do I request an extension beyond six months?
You'll need to write a letter to the IRS explaining your situation in detail and why you need more time. Include any documentation to support your hardship claim. Mail your letter along with a copy of Form 4868 to the IRS address listed on the form.
2.What are the chances of getting an extension beyond six months?
The IRS considers each request on a case-by-case basis. Providing a clear and compelling explanation of your hardship will increase your chances of approval.
3. What if my extension request is denied?
Even if your request is denied, you are still obligated to file your tax return as soon as possible. Penalties and interest can add up quickly for late filing, so prioritize getting your return submitted.
4. Are there any alternatives to an extension?
Consider filing your return electronically. E-filing is generally faster and more accurate than filing a paper return. You may also want to consult with a tax professional. They can help you determine the best course of action for your situation and ensure your return is filed accurately and on time.
5. Where can I find more information about tax extensions?
The IRS website has a wealth of information on tax extensions, including instructions for filing Form 4868 and guidance on undue hardship situations.
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