[Urgent Help] Incorrectly filed extension

hi,

I incorrectly filed extension form 4868 with "Estimate of total tax liability for 2019" to 0 while it should have been 10000$. I misread it as actual taxes owed which is indeed 0.

Is there anyway I can resubmit my extension here or on IRS website ?

Is there any risk with leaving it as is ?

Greatly appreciate the help.

860

Employee Tax Expert

Jul 15, 2020 5:26:26 AM

There is no risk in leaving it as is. However, if you expect to owe tax and want to make a payment now to avoid late payment penalties and interest, you can still do so HERE or by mailing in payment with Form 4868 or 1040-ES.

Returning Member

Jul 15, 2020 7:32:52 AM

Hi,

Thank you for your reply. I have tried to file tax extension again in TurboTax by creating another account and corrected the tax value that I owe. But the tool says I have already filed the extension.

Please throw some light on this situation.

Your help is much appreciated.

Employee Tax Expert

Jul 15, 2020 7:46:41 AM

@karthikanandh

You are allowed to file only one extension (which you already have). The IRS knows that you have already filed an extension (form 4868) because you used the same Social Security number or ITIN.

Creating another account will not fix that.

If you expect to owe money over and above what you indicated the first time you applied for an extension and paid some tax due, you can do so by going to Payments, and making (another) extension payment.

Returning Member

Jul 15, 2020 8:41:13 AM

Thanks! that is very helpful.

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[Urgent Help] Incorrectly filed extension