In order to file a tax extension online, you'll need to first understand the purpose of an extension. Whether you're filing small business taxes or standard individual taxes, an extension is used to provide you extra time in which to complete your taxes. Typically, the allotted amount of extra time is six months.
Quickly complete your taxes in a cursory way in order to get an estimate of the amount of money that you owe. You'll still have to send the money in with your tax extension form that you file online. You can also pay this amount of money over the Internet if you prefer to avoid sending anything by mail.
Visit the IRS Website and Complete the Tax Extension Form
The tax extension form, Form 4868, or the Automatic Extension Form, is the form that you'll need to complete in order to file for a tax extension. This form is available on the IRS website and can be completed in just a few minutes. Complete it and submit it according to the instructions online.
Complete before Taxes Are Due
It's very important that you file for an extension before taxes are due. On the day that taxes are due, you'll have until midnight in order to either postmark a mailed piece of tax document materials or to submit something online. If you submit the extension online, be aware that it can take about 10 minutes to process the document. Therefore, you should give yourself more than that amount of time extra in order to be sure that you don't miss the deadline. Missing the deadline may result in a denial of your extension request and other penalties.