If you are unable to pay your taxes all at once, you can apply for an extension to file your tax. This can be done through Turbo Tax by completing form 4868. If you've downloaded the form, you can print it and post it to your nearest tax office. Alternatively, you can submit the form online using Turbo Tax easy Extension. You should be aware that when you fill in form 4868, this will only give you extra time to file your tax return and pay your tax. You will still need to pay 100% of your tax by the original filing deadline, or you'll have to pay interest and possibly penalties.
How do I request an extension to file my taxes with TurboTax?
If you're not able to complete your tax return on time, you may need to request an extension. In general, tax returns are due by April, but if you are unable to meet this deadline, you can apply for an extension until October. To do this, you'll need to submit a short form, which you can fill in on Turbo Tax by completing the following steps:
1: Estimate the taxes you owe
The first thing to do is to estimate how much tax you owe for the year. You can do this by subtracting the total tax that's been withheld from your pay check from the amount of tax you owe.
Before you estimate your taxes, ensure that you've reduced your income by all the exemptions you are eligible for. If you are planning to use a tax credit, remember to reduce the amount of tax you owe by the credit. You can use TurboTax to help you estimate how much tax you'll owe.
If you owe tax from a previous year, it may be a good idea to include a payment when you apply for an extension. You should also be aware that if you don't pay enough tax, you may end up being charged interest or penalties.
2: Download and Complete Form 4868
To apply for an extension to your taxes, you need to completing form 4868. This form can be downloaded from the TurboTax website. It's a reasonably short form that can be quickly filled out in a few minutes and only requires your name and address and your Social Security number.
Alternatively, you can make an estimated tax payment using your credit or debit card in April. This will mean that your extension is automatically granted, and you won't have to fill in form 4868.
If you've downloaded the form, you can print it and post it to your nearest tax office. Alternatively, you can submit the form online using Turbo Tax easy Extension.
Use TurboTax Easy Extension
TurboTax has an Easy Extension, which is an online tool that will allow you to submit a tax extension in minutes. You should be aware that when you fill in form 4868, this will only give you extra time to file your tax return and pay your tax. You will still need to pay 100% of your tax by the original filing deadline. If you don't, you'll need to pay interest and may also end up with late payment penalties. It's, therefore, best to pay your tax on time, rather than asking for an extension if at all possible.
Contact Turbo Tax Customer Service
If you have any questions about applying for an extension to file your taxes with Turbo Tax, you may like to contact the customer service team. You can either phone, email, or talk to a customer representative via live chat.
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