How to Get Extra Time to File Your 2010 Personal Tax Return
Did you file an extension for your 2010 personal income tax return in April? If so, here’s good news for you: You have a few more days to procrastinate! Read on for more details.
Typically, by filing Form 4868 by April 15, you get an automatic six-month extension to file your federal individual income tax return. But when the due date for any federal tax falls on a Saturday, Sunday, or federal holiday, the due date is extended to the next non-weekend or non-holiday business day.
In this case, since October 15 is a Saturday, the extended due date for 2010 personal tax returns is Monday, October 17. Doesn’t it fill your heart with joy? You now have an additional two days to rummage and make your return.
If you are sending your return to the IRS by regular mail, keep in mind that filing a return on time means it is postmarked on or before the due date. So as long as you receive it at the post office by October 17, your return is filed on time. It’s also wise to get proof of mailing from the US Postal Service, so consider spending a few more bucks for that. If you are filing your return electronically, you should receive an acknowledgment from the IRS within your software program.
One more piece of good news for procrastinators who are residents of the following states and live in areas affected by Hurricane Irene (Connecticut, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Puerto Rico, and Vermont) – the IRS has extended the personal tax filing deadline to October 31. To qualify for this additional two-week extension, you must have lived in a particular area specifically identified by the IRS. Certain counties, cities, and towns that meet this condition are listed on the IRS website.
Regardless of when you file your return (October 17 or October 31), remember that filing an extension is not an extension to pay any tax due. If you have a balance due on your 2010 return and you pay it off by the October due date with your return, you will likely receive a bill from the IRS for late payment penalties and interest. You will not be penalized for filing late, because your extension filed on time excludes you from that. But he will face penalties and interest for paying the tax late, because the tax was still due on April 15, even though he filed an extension for the return.