How to file for tax extension for those affected by storms

How to file for tax extension for those affected by storms

The tax day falls on April 15, but not this year.

Federal taxes are due on April 18 unless you are affected by the severe storms in California, Georgia and Alabama. They are automatically able to file their returns until October 16 of this year.

April 18 is the deadline to file for a tax extension or to make contributions to a traditional IRA, Roth IRA, SEP IRA, Health Savings Account HSA or solo 401k for the 2022 tax year.

The reason tax day isn't April 15 this year is because that date falls on a Saturday. The next business day after April 15 is a tax day, which would be Monday, April 17 this year. The IRS observes and closes for the District of Columbia's local holiday, Emancipation Day.

The deadline to file a tax return electronically, postmarking a paper return or request an automatic extension is April 18, which means that tax day this year is the next business day.

Here are some other dates that you should know.

If you have filed for an extension, the due date for your federal returns is October 16, 2023. The deadline to file your federal tax return is 2022. You still need to pay any tax liability by April 18, but you still have six more months to file your tax return. An extension to file does not mean an extension to make your tax payment.

There are three ways for taxpayers to request an extension.

The second way to file an extension is to file an extension through your tax-filing software. You can file an extension online through the IRS through a software provider that partners with the IRS. The providers offer free extension services for taxpayers who meet eligibility criteria, including adjusted gross income under a certain amount or filers over a certain age.

If you need to make estimated payments, taxpayers can file an extension by making the payments in their tax software, if supported, or on the IRS website using Direct Pay, Electronic Federal Tax Payment System, or by debit or credit card.

Taxpayers can request an extension by mail by paper filing Form 4868, Application for Automatic Extension of Time to File U.S. Print and fill out the form according to the instructions and mail it in with a check or money order of any tax balance is due. Here is the correct IRS branch to mail your extension form.

If the employer does not file an extension by April 18, the deadline to make contributions to SEP IRAs and solo 401k is October 16, 2023.

The filing deadline for victims of severe storms in California, Georgia, and Alabama has been postponed by the IRS on October 16, 2023. The postponement gives taxpayers time to file, make tax payments and make a 2022 contribution to IRA accounts if they are affected by severe storms in the three states.

This relief is offered to declared-disaster areas by the Federal Emergency Management Agency FEMA Rebecca is a reporter for Yahoo Finance and previously worked as an investment tax certified public accountant CPA.