Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jul 13, 2020 3:10:13 AM

I dont have the money right now to pay my taxes or turbo tax what do i do?

How do i file an extension

0 2 285
2 Replies
New Member
Jul 13, 2020 3:28:12 AM

An automatic IRS extension for up to six months can be obtained by completing a form 4868 with the Internal Revenue Service, but the extension must be filed by or before the federal due date. Once filled, a 1040 return can be completed anytime within the six-month period. On the Form 4868, you will be asked to estimate your total tax liability.  

 

https://www.irs.gov/pub/irs-pdf/f4868.pdf

Level 15
Jul 13, 2020 5:10:47 AM

An extension will give you more time to file your Form 1040;  It will NOT give you more time to pay any 2019 tax due.  Your estimated 2019 tax  due is supposed to be paid by July 15, 2020 or you will be subject to penalties and interest.  pay what you can with the extension to mitigate the interest, etc. that you will owe if you cannot pay now.

https://ttlc.intuit.com/community/extensions/help/how-do-i-file-an-irs-extension-form-4868-in-turbotax-online/00/25999

 

The other thing you could do is ask for a payment plan with the IRS.  

https://www.irs.gov/payments/online-payment-agreement-application