A spokesman for the IRS says an estimated 147,000 Iowa taxpayers will request an extension this year. Spokesman Chris Miller says an extension is an option if you can’t meet today’s filing deadline.
“If you don’t think you have everything together in time to file an accurate tax return by the deadline, then you should consider filing for an extension,” Miller says. He says the extension lets you avoid late filing penalties. “An extension gives you an additional six months to file your tax return until October 15th to file without penalties. It’s important to remember that an extension of time to file your tax return does not give taxpayers extra time to pay if they owe,” he says.
Miller says you can use the IRS Free File program for an extension. “All individual filers can use the program to request an extension regardless of income and at no cost to them. And taxpayers at that point in time, when using the free file program, will estimate their tax liability,” he says. In addition to using last year’s tax return to estimate taxes owed, individuals can also use Form 1040-ES.
Miller says there are a few groups that get an automatic extension. “Members of the military on duty outside the U.S and Puerto Rico — they receive an automatic two month extension to file. And also those serving in combat zones, they have at least 180 days after they leave the combat zone to file tax returns and pay any taxes due. And then taxpayers in federally declared disaster areas,” he says.
Miller says there expect to receive an estimated 1.6 million individual Iowa tax returns. You can find out more information at IRS.gov.