How to File a Tax Extension and Extended Tax Deadlines in 2024 (2024)

April 15 is technically tax day—the day you are expected to have your 2023 taxes paid and return filed with the Internal Revenue Service. But if you need a little longer, it’s also the last day you can request an extension, which gives you until Oct. 15, 2024 to file your returns instead.

If you think you’ll need time beyond the April deadline, you won’t be alone. IRS data shows that 10% to 15% of Americans file a tax extension form in a typical year. A tax extension is simply a form you submit to the IRS by tax day, which extends your filing deadline by about six months.

But here’s the tricky part: While you can get more time to file, you don’t get more time to pay.

For tax year 2023 (filed in 2024), you needed to submit your tax extension request by Monday, April 15—the regular tax filing deadline—or face a penalty. If you did so, you’ll need to file your completed Form 1040 by Oct. 15.

Here’s what you need to know about federal tax extensions and their deadlines.

What is a tax extension?

Taxpayers who need more time to file their federal personal income tax return can request a tax extension from the IRS using the one-page Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return.

Compared with other IRS forms, the tax extension form is remarkably short and shouldn’t take more than a few minutes to complete. But first, you’ll need to supply some basic identifying information plus an estimate of your tax liability for the year.

What does a tax extension extend?

A tax extension extends the deadline to file your completed 1040 personal tax return, not your time to pay. So if you requested an extension on your 2023 taxes, you should have already paid any taxes owed by the regular April tax filing deadline. (Note: Filing the extension form with the IRS only applies to your federal income taxes. Those subject to state income tax must file a separate extension.)

If you don’t have all the information you need to calculate the taxes you owe accurately, you would have made an estimated payment. You can get an estimate in two different ways:

• Using online tax software. You can enter your available financial information and let the software calculate estimated taxes owed.
• Using a tax professional. A tax filing service or certified public accountant can help you crunch the numbers to arrive at a reasonable estimate.

What happens if you don’t file taxes?

Filing a tax extension will help you avoid a penalty for filing late. (Though, if you fail to file completed return by the extended October deadline, you could still be hit with a failure-to file-penalty.)

If you’re thinking of submitting an extension without payment, however, think again. If you didn’t pay at least 90% of the taxes owed by tax day, the IRS could charge a failure-to-pay penalty of up to 25% of your unpaid taxes—plus interest (currently 8%).

Do I need to file a tax extension?

Most Americans who need additional time to file will want to file an extension. However, some people don’t need to, thanks to specific provisions in the tax code. For example, you might qualify for an automatic extension if:

• You were impacted by a natural disaster. The IRS keeps a running list of qualifying disasters and resources for taxpayers in those areas.
• You worked or lived outside the U.S. on the tax filing deadline. This includes military personnel and their families and may qualify you for an automatic two- to six-month filing extension.
• You are a qualifying member of the military. Beyond the extensions for living abroad, those in combat zones or hospitalized because of injury may qualify for automatic extensions.

If you know you’re getting a refund, the IRS is a bit more gracious if you don’t file an extension. If you missed the April deadline, in this case you’ll avoid a penalty for failing to file. However, those who don’t file a completed tax return within three years of the original due date stand to lose their entire refund.

How do I file a tax extension?

You have three options for filing a tax extension: file online, by mail or with a tax professional. But no matter which method you use, the IRS loves a good deadline, so your extension also has a deadline: Oct. 15, 2024.

File a tax extension online

You can file your tax extension free using the IRS’s Free File website or use one of the many popular online tax software providers such as TurboTax, e-File and H&R Block.

A benefit to filing your extension online via the IRS or other providers is digital tracking. You’ll receive notice when the IRS has received your extension request and then again once it is accepted.

File a tax extension by mail

Yes, filing your tax extension via the U.S. Postal Service is still possible. To do so, you’ll print Form 4868 and then mail it to the address specified on page four of the instructions accompanying the form. And while it isn’t entirely free, fans of regular mail will find the cost of an envelope and stamp negligible.

If you opt to file your extension by mail, make sure it was postmarked on or before tax day.

File a tax extension with a tax professional

If you prefer professional help to get you through tax season, your tax preparer can e-file your tax extension on your behalf. Whether it’s your CPA, a local accounting firm or an online tax preparation service, you might find peace of mind knowing that your extension has a professional touch.

Remember that even though e-filing the extension might be free, your professional may charge you for their time.

Can a tax extension be rejected?

When you submit a tax extension using Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return, your request is typically approved immediately—hence, the “automatic” in the form’s name. However, the IRS can reject a tax extension.

Rejections typically happen if your form has typos or if your current address doesn’t match the one on file with the IRS. But all isn’t lost. You can submit a corrected tax extension form at any date up until the tax extension filing deadline.

If you discover the IRS has rejected your tax extension after the filing deadline, don’t sweat it. In this case, you have a five-day grace period to refile a corrected extension.

What about IRA contribution deadlines?

If you contribute to an individual retirement account, you still need to make all contributions for the 2023 tax year by April 15, 2024. However, a tax extension can push back contribution deadlines for some small business retirement plans.

For instance, if you file an extension and have a Simple IRA, SEP IRA or a solo 401(k), you can contribute to these accounts for the 2023 tax year until the October 2024 filing deadline.