Have a question on form 4868 federal extension please
Me and my wife filed this form to get more time to prepare our taxes. We noticed the Turbotax CD version did not allow electronic filing for extensions, so we used our online Turbotax ID's to file it easily electronically
Is there any other action needed? should i mail another 4868 one with a 0 in that balance due cell or just leave it be ? when we eventually file our returns there will be a refund !
thanks for any help !!
No, you don't need to worry about this. I am not certain why the form is displaying a balance due when there is not a balance due, but if you file a second extension, it will be disregarded.
In addition any penalties for late filing or payment will be based on the 1040 that you file, so there is nothing to worry about. Just file your return when you are ready and it will be fine.
No, you don't need to worry about this. I am not certain why the form is displaying a balance due when there is not a balance due, but if you file a second extension, it will be disregarded.
In addition any penalties for late filing or payment will be based on the 1040 that you file, so there is nothing to worry about. Just file your return when you are ready and it will be fine.
No, you don't need to worry about this. I am not certain why the form is displaying a balance due when there is not a balance due, but if you file a second extension, it will be disregarded.
In addition any penalties for late filing or payment will be based on the 1040 that you file, so there is nothing to worry about. Just file your return when you are ready and it will be fine.
thanks so much for the feedback - we really appreciate it - will help us sleep a little better !
still not sure what happened. The CD version works great and is correct - but TurboTax forces you to mail it in - so i wouldn't get any confirmation. The online option through TurboTax worked well too but you had to key in all the inputs - TT should build in a control to this online software to show 0 due when you enter payments > liability (or at least ask the question - are you sure you owe a balance?)
thank you again !
We are happy to hear you for the issue resolved.
Please let us know if we can assist you further.
Thank you for posting this question. I had this same issue today. Form 4868 is populating incorrectly on line 6 (shows a balance due when the number should be 0). There is definitely a programming mistake in how this form is populating on line 6. Turbotax really needs to correct this ASAP.
I've completed enough of my 2021 return (using installed version of TT Deluxe) to file for an extension. The Form 4868 generated by the software fills in the balance due with an amount more than 10% greater than the Amount you're paying. I've run several reviews of the return with the same result, and cannot find any explanation for the discrepancy. Any ideas?
It would be best to contact us by phone by following the instructions here so we can better assist you. @Infernal_Revenue_Service
You don’t need to file Form 4868 (by mail or by TurboTax)
if you make a payment using the IRS
electronic payment options. Your extension will be automatically
processed when you pay part or all of your estimated income tax
electronically. You can pay online or by phone.
===
You can pay all or part of your estimated income tax due and indicate that the payment is for an extension using Direct Pay, the Electronic Federal Tax Payment System, or using a credit or debit card. Your extension is then automatically granted and you will receive a confirmation number for your records.
if you estimate you have a refund coming, you don't need an extension of time.
There is no penalty for filing for a refund after April 15th.
I have the same issue using the Free federal tax extension on Turbotax website. The refund amount was put on line 6 Balance due instead of 0. However when I did it on turbotax premier that I down from a disk, the Balance due was correct at 0, but the tax extension was not able to efile on the software.
Same thing happened to me - line 6 should be zero since I estimate I have overpaid, but turbotax put in a positive due-amount. How do I really know this doesn't negatively affect my filing with IRS? Why hasn't turbotax fixed this? How many people is this happening to who really don't notice it?
I have the same problem showing up online. Line 6 should be 0 but instead it shows the amount already paid (more than liability) in 2021, the amount tax liability (line 4) was 0 so this Line 6 should also be 0.
There seems to be no option to resubmit or correct this.
You don't "need" to correct the 4868. The IRS cares about only these things:
1. Your name
2. Your Social Security number
3. The amount you are paying
That's it. There are no "wrong" numbers on the 4868 unless they cause YOU to not pay enough balance. The IRS certainly does not spend any time looking at those numbers and checking them. If you are expecting a refund, then the numbers make absolutely no difference to the IRS.
So if you feel that you paid enough so that you won't owe anything when you file your return, then you have done your job.
"There are no "wrong" numbers on the 4868 "
If TurboTax fills out the form incorrectly and then uses that number on your Form 1040, and you did not sent that amount to the IRS, that's going to be a problem, don't you think ?
22.0414 filing a 2021 extension just in case I don't have time to complete return by April 18 2022 deadline.
I'm miffed & puzzled on TurboTax (TT) online extension.
I have TT on my computer. I completed extension only to discover I can not e-file. So, I ventured to TT online and input same #s.
line 4, positive #
line 5, positive larger #
line 6, per instruction, should be a ZERO (is on Mac software).
Online extension though, line 6 showed me owing what I should be receiving. Unfortunately, I did not discover TT ERROR (because no preview function is available) until I downloaded the form, after being submitted.
... I don't think I'll have an issue because I'm owed money. However, this is unnecessary anxiety.
I had the exact same problem using TurboTax online. IRS owes me a refund. Turbotax did not put 0 in line 6. I spent 3 hours talking with multiple TurboTax reps on the phone. No one could fix the problem. One rep even told me that the form was not designed for extensions with tax refunds !!!! I could have completed the filing of my taxes in less time than the time spent dealing with TurboTax"s ineptitude. This is unacceptable. Does anyone have a recommendation for another online Tax service that allows viewing the 4868 form prior to transmitting to IRS ?
Just filed for an extension right now via TurboTax e-file, and had the same exact problem when I looked at the submitted Form 4868. Good to read that the IRS does not seem to mind, but a little concerning the problem isn't fixed, nor the ability to look at the 4868 before submission.
It just happened to us too. You would think they would have corrected an error such as this by now...
Just want to add this error only occurs on the e-filed federal tax extension on Turbotax website. I initially used the desktop version of TurboTax to generate Form 4868, which calculated the balance of 0 correctly. But since the desktop version has no option to e-file, and makes you print and mail out the form, I opted to go on the website and file the extension there instead.
I felt the same way. Turbotax screwed up and now for those of us who are expecting a refund and filed for an extension will be scrutinized because of the incorrect calculations provided. I wonder what else they screwed up now on the tax forms.....
It won't be scrutinized. People expecting refunds file extensions all the time, as a 'just in case' precaution. The numbers (tax liability, expected refund, expected balance due) on Form 4868 are meaningless. The IRS created the form years ago and most of it is simply not important - but you have to enter something in order to electronically file it. As long as it shows accepted, you are fine.
It would not matter if you said you were expecting a $20k refund or if you thought you were going to owe a million dollars. I have filed an extension and told the IRS I thought I owed $750,000 - nothing happened. I filed the return 5 months later and paid the $138 I owed with a small amount of interest. There is no penalty for estimating wrong.
If you deliberately or even not deliberately, underestimate the final tax due, and include nothing or only a token amount with Form 4868, IRS can ,deny your extension.
Some states deny extensions for underpayment of tax, but the IRS does not. There is no provision in federal tax law that denies the extension for lack of payment. However, late payment penalties accrue immediately along with interest.
While you're required to "properly estimate" you're not required to pay (it even says this on the form instructions, though those aren't binding law.) The IRS will not deny your extension so long as it is filed on time.
It says it right in the instructions for Form 4868, which you should review.
"Make your estimate as accurate as you can with the
information you have. If we later find that the estimate
wasn’t reasonable, the extension will be null and void."