I want to file an extension but not an "easy extension". I want to file and mail it in with my payment by May 1, 2025. I am a Florida resident. How to update my return?

[Bobgolf49r]

If I create, print and file a paper 4868, how do I include it in my Federal return when I file in the fall?

[AnnetteB6]

When you finish your return to file it by the due date after filing an extension, the main thing you need to take into account is any payment that was made with the extension.  

To enter the payment that was made with your extension you will go to Deductions and Credits > Estimates and Other Taxes Paid > Other Income Taxes then click Start or Update.  Next click Start or Update beside Payment with 2024 Federal Extension to enter the payment that you made when you file your extension.  

This will update your return to include the extension payment so that your remaining refund or balance due takes that amount into account.

[Bobgolf49r]

Hello! Since I am entitled to file for an extension up to May 1, 2025, will TurboTax allow me to put "05/01/2025" on my payment with Form 4868 or will TurboTax erroneously calculate a late payment penalty and interest or should I enter 04/15/2025 instead of 05/01/2025 to get the correct calculations? I am skeptical about this "corner case" for filing my extension on May 1, 2025 and NOT having TurboTax calculate any penalty and interest for late payhment. TIA! 

[Opus 17]

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@Bobgolf49r wrote:

Hello! Since I am entitled to file for an extension up to May 1, 2025, will TurboTax allow me to put "05/01/2025" on my payment with Form 4868 or will TurboTax erroneously calculate a late payment penalty and interest or should I enter 04/15/2025 instead of 05/01/2025 to get the correct calculations? I am skeptical about this "corner case" for filing my extension on May 1, 2025 and NOT having TurboTax calculate any penalty and interest for late payhment. TIA! 

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Why do you believe you are entitled to request an extension after April 15?

[Bobgolf49r]

I am a Florida resident affected by Hurricane Milton. See IRS bulletin FL-2024-10, Oct. 11, 2024.

[Vanessa A]

You can select to have the IRS calculate the penalty for you and then TurboTax should not include the penalty. Then if no penalty is due because of the hurricane, you would not have one.  

[Bobgolf49r]

Please explain where that step in the process is regarding "have IRS calculate any penalty / interest". Is it under "deductions and credits" or "other tax situations"? I updated the date of the payment for the payment included with my Form 4868 to May 1, 2025 and I don't see any change in my refund or balance due. So, it looks like TurboTax may have been updated to permit an extension and payment by May 1, 2025 for Florida residents. But if I still ned to flag the return to have the IRS calculate any penalty/interest, I need to know where that is. TIA!

[Vanessa A]

You actually have 2 options.  You will find this by going to Other Tax Situations>>Underpayment Penalties

First option is as you walk through the steps select yes to do any of these apply to you?  

• Your underpayment was due to a casualty, disaster or other unusual circumstance
• One of you became disabled

Then walk through the steps to request and explain why you are requesting the waiver.  

This would actually be the better way to do it.  

If you select no to that question you will be asked if you want to let the IRS figure your penalty.  

[Opus 17]

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@Bobgolf49r wrote:

I am a Florida resident affected by Hurricane Milton. See IRS bulletin FL-2024-10, Oct. 11, 2024.

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You can't e-file the extension, I think.  If you want to file on time by May 1, just e-file.  Turbotax may think it is late, but you can ignore that.  The IRS should know you qualify based on your zip code.  There should also be a function in Turbotax where it asks if you are affected by any disasters or other situations that change the deadlines, although I don't know where that function is.

If you need the extension, and it is too late to e-file, you fill out and mail in the form 4868. The IRS should get the disaster extension based on the zip code, but you can write "Hurricane Milton IRS notice FL-2024-10" on the form if you want.

If Turbotax tries to calculate a late filing or late payment penalty, I would refuse, don;t include a penalty calculation with your return (I think you can do that).  Wait and see if the IRS actually bills you.