U.S. individual and business taxpayer: Need more time to prepare your personal or business tax return? You should consider filing an extension.
If you’re not able to file your personal or business tax return by the April 18, 2023 initial due date, you can request an extra time to the federal tax authorities. You request extra time by filing a request for an extension. If you properly file your request, it is automatically granted and you’ll have until October 16, 2023 to file your federal income tax return.
HOW CAN YOU REQUEST AN EXTENSION?
For individuals
Regardless of how much money you made, you may:
- Use IRS Free File at IRS.gov/FreeFile to request an automatic six-month extension to file; or
- File Form 4868, Application for Automatic Extension of Time to File.
For Business and Corporations
Use Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns to request a six-month extension to file your business’ tax return. The request for an extension will be granted if you complete Form 7004 properly.
WHAT ARE THE REQUIREMENTS?
For your extension to be considered properly filed, you must meet several requirements:
For individuals
You must:
- File your extension on or before April 18, 2023.
- Estimate the tax that you owe, if any, and pay it on or before April 18, 2023
For businesses
You must:
- File Form 7004 on or before the due date of the applicable tax return. The due date depends on how your company files its tax return, its year-end.
- Estimate the tax that your business owes and pay it on or before the due date of the return.
Example: Your business files its tax return as a C Corporation and closes its books on December 31. You must request an extension to file the C Corporation tax return on or before April 18, 2023.
WHAT IF YOU’RE IN A FEMA DISASTER AREA?
If you’re in an area that the Federal Emergency Management Agency (FEMA) designates as a disaster area, the IRS may offer you an automatic extension. You don’t need to file any extension paperwork or call the IRS to qualify for the extended time.
Example: As part of a coordinated federal response to the damage caused by storms in most of California and parts of Alabama and Georgia, the IRS announced on February 24, 2023 that it extends to October 16, 2023 the due date of various tax filing and payment deadlines as follows:
- For individuals that are in this FEMA designated disaster-area: the April 18, 2023 due date for most calendar-year 2022 individual returns has been extended to October 16, 2023.
- For businesses that are in this FEMA designated disaster-area: returns that are normally due on March 15 and April 18 now have an October 16 extended due date.
- For tax-exempt organizations that are in this FEMA designated disaster-area: returns that are initially due on May 15 have been postponed to October 16.
WHAT IF YOU’RE LIVING ABROAD OR ARE IN THE MILITARY IN COMBAT ZONES
If you’re a U.S. citizen or resident alien or a military member in combat zones, you may have an extra time to file your tax return and pay any taxes due.
During the 2022 filing season, about 165.8 million individual income tax return were sent to the IRS as of December 31, 2022. About 43 million (one third) of these returns were sent to the Federal tax agency after April 18th, 2022, the initial tax due date.