How Do You Extend Deadline For Taxes?
• Decide if you need an extension to fill in the required income tax paperwork or if you cannot make the payment. If you can complete the forms, but cannot pay in full, you should complete your taxes and pay what you can. • If you submit your tax forms and a partial payment, you will receive a bill in the mail at a later date with the balance due. This will give you more time to collect the money before interest payments must be made. • Even if you request an income tax extension, you will be required to pay interest on payments you received after this date. You will also owe a late payment penalty, if you file an extension. It will be waived if you have paid at least 90 percent of your tax by the mid-April due date. • If you want to avoid interest and pay in installments, then go to the IRS website and click on “Apply for an Online Payment Agreement (OPA),” a program that creates an installment payment schedule for you. You must make less than $25,000 and meet other requirements. • Re
