You can no longer request a "second extension" of time to file using Form 2688. Instead, your request for an automatic extension of time to file using Form 4868 will grant you an extra six months to file your taxes. Under the old extension procedures, you would request an automatic 4-month extension followed by a 2-month second extension. An extension of time to file is not an extension of time to pay.
Difficulty: Easy
Time Required: 15 minutes
Tips:
- If you owe the IRS, you must pay your tax in full by April 15th. If you do not pay your tax in full, the IRS will calculate penalties and interest on your outstanding balance. If you think you owe, file an extension! You will save money by avoiding the late filing penalty.
