If you are feeling the crunch of tax season and having difficulty getting all of your numbers and papers and files in order--then consider filing for an extension with the Internal Revenue Service. It is not a big deal to file an extension, and you are not penalized for doing so. The important rule to remember here, however, is that you must file by the extended deadline. You also will need to pay an "estimated tax" to hold over the IRS until you can get the correct documents and numbers in order.

Necessary Forms

Fill out Form 4868, which officially is called "Application for Automatic Extension of Time To File U.S. Income Tax Return." You may be eligible for an automatic six-month extension. The key is to fill out the form by "the due date for filing your calendar year return (usually April 15) or fiscal year return," reports the IRS website. If you are living outside of the United States, living outside of the country when an automatic six-month extension expires or serving in a combat zone, you will have to fill out additional forms. These forms are available--with instructions--on the IRS website (See Resources).

Mailing Forms

Print and mail Form 4868 and any other forms to the IRS addresses according to the state you live in. You can find these addresses on the bottom of Form 4868.

Filing Forms Electronically

File Form 4868 electronically by visiting a tax professional or filing on your own on the IRS e-file website. You also will need to pay an "estimated tax," which you can e-file or send along in the mail. "Please be aware that an extension of time to file your return does not grant you any extension of time to pay your tax liability," warns the IRS website. Please consult a tax professional for more information on adhering to strict IRS filing policy.

Source:

Internal Revenue Service: Getting an Extension

More Information:

IRS.gov: Form 4868; Application for Automatic Extension of Time To File U.S. Individual Income Tax Return

IRS: Extension of Time to File Your Tax Return