Extension (Tax)

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You must file your taxes by April 15 each year, and there is a penalty for being late. However, if you know you will be late, you can apply for an extension that gives you more time to get your tax return in order. You can get a six-month extension relatively easily, and then usually an extra two months after that. You must request an extension by using Form 4868. It is important to note that the extension only applies to the documents required for the tax return; the extension does not apply to payment of any tax you might owe. You still have to pay what you owe or what you believe you owe on time. In other words, you cannot put off paying your taxes by filing for an extension.