• <h4 class="dechead">On One Hand: You Must Use Mail

    You may efile an extension by April 15 of the year your taxes are due. This gives you until Oct. 15 to efile your tax return. However, if you are later than that to efile your tax return, you can prepare your tax return on, but you must mail it to the IRS.

    On the Other: Make Partial Payment

    If you are late efiling your tax return because you don't have the money to pay your taxes, the Internal Revenue Service will accept a small fraction of payment with your tax return. However, you may be subject to interest or IRS penalties if you do.

    Bottom Line

    If you do not efile or file your tax return, it can cost you. The IRS may charge you 25 percent of your tax bill or more for being late. File or efile by the due date, even if you don't have all your tax information or money. The IRS will allow you to amend your tax return at any time.

    Source:; Federal IRS Extension; IRS e-file: Filing your taxes online was never easier!

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