When Is the Last Day to Pay My Taxes?
If you owe taxes, the last day you have to pay what you owe is Wednesday, April 15, 2015. Even if you can’t get your taxes completed on time, and you decide to file an extension, you still need to pay the amount you owe on the 15th in order not to incur late and penalty fees. If you don’t know the exact amount you will owe, that isn’t an excuse the IRS will accept. You still need to estimate what you will owe and pay that amount, making sure your estimate comes within 90% of what you owe to avoid penalties (You will still be responsible for late fees if you come up short.). For this reason, it’s better to overestimate than underestimate when calculating what you think you may owe.
When Is the Last Day to File Taxes?
The last day to file your tax return is Wednesday, April 15, 2015, if you don’t file for an extension. Anyone can file for an extension, which will give you an automatic 6 month extension until Thursday, October 15, 2015, to file your taxes. As mentioned above, even with the extension, you still need to pay the amount you owe in taxes to avoid penalties and late fees.
How Do I File a Tax Extension?
In order to to get an extension to file your taxes, you need to file Form 4868 (PDF). To file Form 4868 on time to get your automatic extension, it must be postmarked by 11:59 pm on Wednesday, April 15, 2015, if it’s sent in by snail mail. You can also pay electronically by paying with one of the IRS electronic payment options for a portion or all of your estimated taxes. Doing this will automatically give you an extension, and there is no need to file Form 4868 when you make a payment electronically. It’s also possible to e-file an extension using your personal computer or through a tax professional.
Once again, the most important thing to remember is filing and getting an automatic extension is for filing your taxes only, and it doesn’t include paying the taxes you owe. You must pay any taxes you owe by April 15, 2015, to avoid possible late penalties and fees.