How Smart Truckers Outsmart The Tax Day Deadline

| April 13, 2018 | 1040 Extension, File tax extension, Form 4868 electronically, Income tax return, IRS e-file extension, IRS extension, Tax extension, Tax extension deadline, Tax Return | No Comments
April is here Trucking Nation! That means a few things for us in the transportation industry. Both your personal income return and IFTA fuel taxes are both due this month. Are you prepared for these tax deadlines?

Are You Prepared For These Tax Extension Deadlines?

Typically, Tax Day is April 15th, but this year it falls on Sunday and Monday is Emancipation Day, a legal holiday in Washington, D.C. The official Tax Day Deadline is April 17th, 2018.

Need More Time To File?

The IRS is far more forgiving about doling out additional time than you might expect when it comes to the 2018 personal tax deadline. Filing an income tax extension is easier than you might think, especially if you e-file a tax extension online. You can e-file Form 4868 for an automatic six-month extension to submit your federal income tax return without penalties.

If you submit your application to the IRS by midnight on April 17, 2018, you will receive an additional six months to file your tax return without incurring IRS penalties.

However, while Form 4868 does give you an extension of time to file income returns, it does not extend the time to pay. If you are unable to make your tax payment, you will need to pay penalties and interest, It is recommended that you pay as much of the owed taxes as possible to lower your penalty cost.

What You Need to File a Federal Income Tax Extension

Assuming you file on time, you will automatically receive six months to file your return to the IRS, and you will not be subject to late-filing penalties. You will have until October 15th, 2018 to file your tax return.

To file for a tax return extension, you will need:

  • Your name and address
    • Spouse’s name if filing jointly)
  • Your Social Security Number (SSN
    • Spouse’s SSN if filing jointly
  • Estimated total tax liability for the 2017 tax year
  • Totally 2017 tax withholding and tax payments
  • Estimated tax payment owed to the IRS (If any)

How Do I Apply For An Income Tax Extension?

You can e-file Form 4868 with our sister product ExpressExtension. They will transmit your forms directly to the IRS so you can rest easy knowing you have an additional six months to file your federal income taxes. File today and receive an automatic six-month extension of time to file your personal tax return.

Once you have filed 1040 extension with the IRS, you will get a confirmation email within 48 hours notifying you that your extension was accepted by the IRS.

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